Electrotherm (India) Ltd Share Price

History of Electrotherm (India) Ltd

Electrotherm (India) Limited (EIL), incorporated in October, 1986, is a leading engineering company, known for providing best steel melting equipment globally. The Company has significant presence in steel sector for TMT Bar and DI Pipe industry in India. The Company is engaged in the business of manufacturing induction furnaces, TMT Bars, Ductile Iron Pipes (DI Pipes), Electric Vehicles, Transformers etc. EIL is manufacturing induction melting furnaces, TMT Bars, Ductile Iron Pipes (DI Pipes), Electric Vehicles, Transformers, Transmission Line Towers etc. EIL is also into wind power generation. Since its first order of 350-KW Medium frequency induction furnace in Jun 1983, it has installed over 300 induction furnaces allover India and abroad sofar. EIL also has some firsts to its name ...like design and commission of India's first indigenously made solid state generator of 1200 KW. EIL has set up a sister concern for new products like laser cutting machines for cutting stainless steel to very close tolerances which otherwise is a difficult operation. EIL has recieved the prestigious 'Dhatu Nayak' award for the year 1997-98 and 1998-99 for indigenous development, manufacture & Commissioning of India's largest Medium Frequency Induction Melting Furnace of 7500 KW/15 Ton capacity for Alloy steel and key contribution to stainless steel and alloy steel industry by developing indiginously developing cost effective equipment for manufacturing of stainless steel through induction furnace route respectively. The Company also supplied India's largest MF Induction Melting Furnace of 20 Tons capacity to M/s Shah Alloys Ltd, Ahmedabad. In the year 2000-01 the company accredited with ISO-9001 certificate through RWTUV. During the year 2004-05, the Company started process of expanding its business through setting up of a most modern steel plant at Kutch at a project costing Rs 125.23 Crores. It completed the detailed engineering for the second phase of steel project consisting of Pelletisation Plant, Direct Reduced Iron (DRI) Plant, Modern Alloy Steel Melting Facility and Rolling Mill for heavy structural and alloy steel rolled products. Electrotherm's Steel Division was established in the year 2005 in Kutch, Gujarat. During 2006-07, it established manufacturing capabilities to produce Electric vehicles and expanded the same to produce 150000 Electric Scooters per annum. The Company commissioned Second Phase of project at Kutch during 2008, and further completed third phase of project at Kutch during 2009. In addition to these, Bhaskarpara Coal Company Limited, a Joint Venture Company with Grasim Industries Limited and ET Elec-Trans Limited were incorporated as two new subsidiary companies during 2009. 40 ton 14 MW Induction Furnace for mild steel billet making application was dispatched and commissioned in Nagpur during 2009. The Company commissioned the production of Blast Furnace - II and Ductile Iron Pipe during 2009-10. It further embarked an inorganic growth strategy by virtue of acquiring Transmission Line Tower Plant near Baroda during March, 2010. In May, 2010, it acquired 100% shareholding of Shree Ram Electrocast Private Limited, at Kolkata and manufacturing complex at Siruguppa, Bellary, Karnataka, for Pig Iron with installed capacity of 1,20,000 MT per annum and Power Generation Plant of 2.5 MW. It acquired 100% shareholding of Hans Ispat Limited, a Kutch - Gujarat based Company having manufacturing facilities for Billet of 84000 TPA, TMT Rolling Mill of 1,20,000 TPA and SS Rolling Mill of 72000 TPA per annum. The Company also acquired the shareholding in Shree Hans Papers Limited, a subsidiary of Hans Ispat Limited in June, 2010. Resulting to these acquisitions, all 3 Companies mentioned above became subsidiaries of the Company during the Financial Year 2010-2011. The Company introduced continuous casting machine for small size induction furnaces in April 2011. Further, it implemented the use of LRF and De-phosphorization and De-sulphurization process for production of high quality low phosphorous forging grade billets during 2011-12 and thereafter, introduced Fe-550D TMT rebar products. During 2013, it started operation from Thol plant in Ahmedabad, Gujarat. It installed more than 60 mini high speed casters during 2013-14. It commissioned fusion bonded epoxy coated TMT Bars facility at their Kutch Plant during 2016-17. It started their third TMT Rolling Mill production in the month of March 2019. During 2019-20, Company established heavy-duty scrap poker, which also eliminates manual intervention while melting. It commissioned a galvanizing line for a strip / sheet making plant during the year 2020.