Indsil Hydro Power & Manganese Ltd Share Price

History of Indsil Hydro Power & Manganese Ltd

Incorporated on 31 Aug.'90, Indsil Hydro Power and Manganese Ltd (Formerly known Indsil Electrosmelts Ltd) was promoted by S N Vardarajan, who has interests in two other companies -- Coimbatore Steels and Sun Metals and Alloys. Presently, the Company is engaged in manufacturing Carbon Silico Manganese used in Steel and Stainless Steel Industry. Headquarter in Coimbatore (India), Indsil has LCSM Smelters in India integrated with Captive Hydel Power Plant. Indsil came out with a public issue aggregating Rs 2.85 cr in Jul.'93 to set up a Rs 12-cr unit to manufacture 7800 tpa of ferro silicon, its major product. In addition to ferro silicon, Indsil also manufactures aluminium ferro silicon. It has signed MOUs with state electricity boards for establishing 71-MW hydel power projects for capt ...ive consumption to ensure full power supply. The Kerala government has exempted the Indsil unit from power cuts and electricity duty for 5 years from the date of commercial production. The expansion of capacity by the addition of a 10/15 MVA furnace was completed by Mar.'97. During 1996-97, the civil work of the 21 MW power project at Kuthugal were started and was completed by June'99. World Bank thorugh Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned Rs. 3500 lakhs as term loan towards part funding of this project. During 1998-99, the company was awarded 'KSIDC'S AWARDS FOR EXCELLENCE-99' in recognition for its outstanding performance in terms of employment generation, good labour relations, contribution to economy and profitability. The first phase of the company's project Hydro Electric Power Plant at Kuthungal, Kerala involving one generator having a capacity of 7 MW was commissioned in May'2000. The company had successfully commissioned the 21 MW Kuthungal Hydro Electro Power Project during the year 2000-2001 which is the largest private hydel scheme in Kerala.This project had been completed within a period of 28 months.Hydro Electric Power Project was commissioned in May 2000 and the full commercial operation was in August,2000. The Company acquired a 50% stake in an Indonesian manganese ore mining venture in 2007-08 and resulting, the exploration work commenced. The JV called Al-Tamman Indsil Ferro Chrome LLC was established in the Sultanate of Oman in 2009-10. The Company further acquired a 51% stake in Sree Mahalakshmi Smelters (P) Ltd (SMSPL) and it became a subsidiary of the Company effective October 24, 2011. The ferro-chrome manufacturing operations of the Company's Joint Venture Al-Tamman Indsil Ferrochrome LLC in Sultanate of Oman commenced full scale commercial production from April, 2014 onwards. The FY 2017-18 created a major milestone in terms of the merger process of Company along with its Sister Company Indsil Energy and Electrochemicals Private Limited, through the Scheme of Amalgamation, which became effective 1 April, 2017. The Scheme envisaged one entity having a 50% stake in the Oman Company, Al-Tamman Indsil Ferrochrome LLC (ATIFC). The Merger also bought in enormous advantages of risk diversification and also in a wide variety of product mixes to the Company's manufacturing portfolio. In addition to the said Merger, the Company had 51% stake in M/s Sree Mahalakshmi Smelters Private Limited and was a subsidiary of the Company. Consequent to merger, of M/s Indsil Energy and Electrochemicals Private Limited with the Company, M/s Sree Mahalakshmi Smelters Private Limited became the Wholly Owned Subsidiary of the Company in 2017-18. Similarly, M/s Indsil Energy Global (FZE) was a Wholly Owned Subsidiary of the erstwhile M/s Indsil Energy and Electrochemicals Private Limited. Consequent to said Merger of M/s Indsil Energy and Electrochemicals Private Limited with the Company, M/s Indsil Energy Global (FZE) also became a Wholly Owned Subsidiary of the Company in 2018.