ISMT LTD
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BSE Code:
532479
NSE Code:
ISMTLTD
Business Profile
Business Profile
ISMT (ISMT) is engaged in manufacturing and marketing of precision seamless tubes and alloy steels. Promoted as The Indian Seamless Metal Tubes in 1977, the company merged with Indian Seamless Steels and Alloys in 2005 to form ISMT.
The company manufactures specialized seamless tubes through the Assel mill route in the range of 6 mm to 273 mm OD. These have applications in the manufacture of auto-components, OCTG products, heat-exchangers, and others. Value-added products include cold rolled and machined rings for bearings and constant velocity (CV) joints, steering columns for two-wheelers, ..etc. The manufacturing units are located in Baramati and Ahmednagar. The installed capacity is being increased to 400,000 TPA and 75,000 TPA in Baramati and Ahmednagar, respectively. This would take the combined installed capacity to 475,000 TPA after expansion.
ISMT offers carbon and alloy steel products including alloy and alloy spring steels, micro alloyed and boron steels, ball bearing steels, high alloy steels, free cutting/semi free cutting steels, carbon and carbon spring steels. These are used in industries such as forging, seamless tube making, automobile and auto-ancillaries and other engineering applications. The manufacturing plant in Jejuri produces alloy steels from 20 mm to 225 mm diameter with an installed capacity of 250,000 MT per annum, which is being increased to 500,000 TPA in the next two to three years.
The company is ISO 9000, QS-9000 and ISO/TS 16949 certified from BSI, UK and recently has been awarded with ISO 14001 and OHSAS 18001 certifications. The company acquired a 100% stake in Structo Hydraulics AB (Sweden), a manufacturer of tubular components for the hydraulic cylinder industry.
The registered office of the company is located at Lunkad Towers, Viman Nagar, Pune-411014, Maharashtra.
Financials
The company announced a steep drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 22.53% to Rs 195.30 million from Rs 252.10 million in the same quarter previous year. Net sales declined 5.37% to Rs 3,022 million, while total income for the quarter fell 5.20% to Rs 3,037.70 million, when compared with the prior year period. It reported earnings of Rs 1.33 a share during the quarter, registering 24% decline over previous year period.
Recent Developments
08-APR-09
Fitch Ratings, has revised the company Outlook to Negative from Stable. Its national long term rating has been affirmed at `A(ind)`.