Balasore Alloys Ltd
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BSE Code:
513142
NSE Code:
BALASORE
Business Profile
Business Profile
Balasore Alloys (ISPALLOY), formerly Ispat Alloys, is a member of the Ispat group of companies owned by the Mittals. It was incorporated in 1984 and started its commercial production in 1987. The other group companies are Ispat Industries, Ispat Metallics India, Ispat Profiles India, Gontermann Peipers India, ..etc.
ISPALLOY is engaged in the ferro alloy business. The company manufactures and exports ferro chrome, charge chrome, and ferro alloys. To produce ferro alloys, the company uses the electrometallurgical process in submerged arc furnaces with a capacity of 60 MVA divided into five furnaces.
ISPALLOY has also acquired about 100 hectares of chrome ore mines in Sukinda Valley in the State of Orissa in order to execute mining operations. The company has its own captive power generation facility of 21 MW to meet the requirement of power and has a well-equipped laboratory with all modern facilities for analyzing various ferro alloys and raw materials.
Its customer list includes Jindal Strips, Shah Alloys, Chandan Steel, Synergy Steel, Mukund Industries, ..etc. ISPALLOY exports ferro alloys to countries like USA, Japan, Korea, Europe, Taiwan, ..etc. Its plant is located in Balgopalpur, Balasore, Orissa. It has five furnaces that can produce 100,000 MT per annum of various ferro alloys.
Financials
Balasore Alloys registered a 302.45% growth in net profit to Rs 24.63 million for the quarter ended March 2007 from a profit of Rs 6.12 million for the quarter ended March 2006.
Net sales for the quarter rose 21.20% to Rs 778.20 million for the quarter ended March 2007 from Rs 642.06 million for the quarter ended March 2006.
Total income rose 23.11% to Rs 793.9 million for the quarter ended March 2007 from Rs 644.89 million for the quarter ended March 2006.
The earnings per share (EPS) of the company stood at Rs 0.43 in the quarter ended March 2007.
Recent Developments
06-FEB-07
Rabindra Kumar Jena, executive director of the company has been elevated to and appointed as joint managing director of the company w.e.f. January 31, 2007.
20-NOV-06
The company has obtained an approval of prospecting license for about 284 hectares of manganese ore mining lease in Orissa by the Government of India, estimated reserves of which is 52 million tons approximately.
Future Plans
The company has decided to undertake the business of consultancy services in addition to its existing line of business.