Rathi Steel & Power Ltd Share Price

History of Rathi Steel & Power Ltd

Rathi Steel and Power Limited was incorporated on December 17, 1971. The Company is engaged in manufacturing of rebars and wire rods. The company has two manufacturing units at Ghaziabad in Uttar Pradesh and Sambalpur in Orissa. Their Ghaziabad Plant consists of steel rolling mills having an installed capacity of 125,000 tons per annum. Their Orissa project consists of facilities for manufacture of 300,000 tons per annum sponge iron, a steel melting shop of 5,00,000 tons per annum, pig iron of 200,000 tons per annum and captive power plant of 50 megawatts. The company markets their product steel bars under the brand RATHI. The Rathi Group was amongst the first to adopt the technology of Tor in the country from Tor Isteg Steel Corporation, Luxemberg, through the Tor-Steel Research Founda ...tion in India. The Company's latest product Thermo-Mechanically Treated (TMT) Steel has gained popularity in short span of time in the construction Industry. In January 11, 1972, the company started installation of rolling mill plant at Ghaziabad and in February 7, 1973, they started commercial production. In August 29, 1973, the company entered the capital market with an equity issue of 380,000 equity shares of Rs 10 each. During the year 1976-77, the company set up wire rod mill. During the year 1977-78, they came under Grade 'A' of ISI. During the year 1982-83, the company completed the expansion program for rolling lower diameters of wire rod. They expanded the installed capacity from 25,000 TPA to 95,000 TPA. During the year 1989-90, the company undertook expansion/ diversification/ modernization program with the financial assistance of the IFCI and during the year 1992-93, they completed the expansion/ diversification/ modernization program. During the year 1990-2000, the company obtained ISO Certification. ISO 9002. In December 2001, the company started production of TMT bars under 'THERMEX' technology. In March 2005, the company expanded the installed capacity from 95,000 TPA to 1,25,000 TPA. In April 2005, they installed High Speed No Twist Block Mill for producing high quality wire rods. In May 2005, the company signed an MoU with the Government of Orissa for setting up an Integrated Steel Plant at Sambalpur District. In November 2005, they installed Steel Melting Shop of 40,000 TPA. In February 2006, they commenced Production of Alloys Steel / Stainless Steel. During the year 2007-08, the company set up a unit for producing Sponge Iron with the installed capacity of 150000 MT. Also, they installed a captive power generating set with the capacity of 20 MW. During the year 2008-09, the company increased the installed capacity of Steel Ingot from 40000 MT to 190000 MT.