Mahamaya Steel Industries Ltd Share Price

History of Mahamaya Steel Industries Ltd

Mahamaya Steel Industries Limited, formerly known Rajesh Strips Limited, was established in May, 1988. The name of Company was changed from Rajesh Strips Limited to Mahamaya Steel Industries Limited during the period 2008-09. Mahamaya Steel a major industry in the group, is presently manufacturing steel structures in the shape of Angles, Beams, Joist, Channels, Rounds, Flats, Railway sleepers etc. It has high capacity structural rolling mills with full fledged supportive SMS. The manufacturing facilities are operated at Raipur, Madhya Pradesh. Mahamaya has many prestigious customers ranging from BHEL, BHPV, MAHAGENCO, CSPDCL, TNEB, GETCO, MSPDCL, MPPDCL, DGVCL, PGVCL, MGVCL,ONGC, RAILWAYS, RELIANCE, JINDAL etc. It is also conversion agent of SAIL, JINDAL. Mahamaya has kept pace with mo ...dern time, by continuously modernizing its plant and equipment so that its product confers to specification as required by different customers. The company came out with a public issue in Feb.'94 to part-finance its expansion-cum-modernisation programme to manufacture 50,000 tpa of steel structurals and 10,500 tpa of steel strip coils. The expanded capacity went on stream in Mar.'94. In 1995-96, the company expanded by converting its single drive system to double drive operation system for higher capacity utilisation. It also proposed to install a heavy structure mill of 1,05,000 tpa and put up facilities to produce heavy structures. In the year 1996-97 the company has undertaken a project of 610 MM Heavy Structural Rolling Mill at Raipur with the total project cost estimated to be Rs 17.12 crores. Also the company has successfully implemented a power project of 3 MW capacity. In 2001-02, the Company took over the operations of Raipur Ferro Alloys (P) Ltd., effective from 01 April 1998 under the name of 'Casting Division' through the Scheme of Merger, which was transferred to Bilaspur High Court in Chhattisgarh, where the Company is situated came into existence. Only Unit-ll, heavy structural mill of the Company was in operation during the year 2002-03. During the year 2005-06, the newly installed Oxygen Gas Plant commenced its operations. In 2007-08, the Company got into an agreement with Steel Authority of India Limited (SAIL) for conversion of its structural products. During the month of June 2008, the Company commissioned the first phase of expansion of Steel Melting Shop (SMS) Plant by adding production capacity 1,50,000 MT per annum. It started expansion project of New Heavy Structural Mill Project. The Company implemented a New Furnace in Steel Melting Shop in March, 2011. During the year 2020-21, the entire manufacturing /Plant unit of the Associate Company was sold including the portion of leasehold land through which the plant was constructed for a consideration costing Rs. 10 Crores on 31st December, 2020. In year 2024-25, Company replaced two more old furnaces with new ones, incurring a capital expenditure of approximately Rs. 6 Crores. As a result, the production has increased.