Shah Metacorp Ltd Share Price

History of Shah Metacorp Ltd

Shah Metacorp Limited was formerly incorporated as ' Shreenath Mineral Metal Private Limited' on September 29, 1999. On June 21, 2004, Company name was changed to 'Gyscoal Alloys Private Limited'. The status got converted into a Public Company and the name was changed to 'Gyscoal Alloys Limited' on March 21, 2006. Later on, the name was further changed to 'Shah Metacorp Limited' on April 3, 2023. The Company is a leading manufacturer & Exporters of Stainless Steel Equal Angle Bars & Bright (Round) Bars & Stainless Steel Flat Bars in India. The company manufactures different grades of Stainless Steel products ranging between 200 series to 400 series. They own their manufacturing plants in Kukarwada in Gujarat. The company is using the latest Corex Steel Technology and production techn ...iques and is also strictly adhering to a system of Statistical quality control at every stage. The company's products portfolio includes Angles, Bright Bars, Black Bars, Flats, Hexagonal and Round Corner Squares (RCS) products which include channels, sections, pata-patti, full line of Round Corner Squares (RCS) and rectangles in standard sizes. They also manufacture squares, and Flat in sizes of the specification as per requirement of their customers. Initially, the company started their business with the trading of iron and steel scraps, billets, CTD Bars, TMT Bars and stainless steel long products. In the year 2005, the company took over a steel rolling mill business with a capacity of 6000 MT per annum from Shah Alloys Group at Ubkhal, Mehsana and started manufacturing of rolled products. During the year 2005-06, the company increased the rolling mill capacity by 12000 MT per annum to take the total rolling mill capacity to 18000 MT per annum. In the financial year 2006-07, the Company further started its steel melting shop with a capacity of 12,000 MT per annum which was further increased to 18,000 MT per annum in the year 2008-09. The rolling mill capacity was increased by another 84,000 MT per annum to take the total rolling mill capacity to 1,02,000 MT per annum in the financial year 2014-15. During FY 2016-17, the Company subscribed 26% of shares in M/s. Goldman Hotels and Resorts Private Limited, New Delhi (A SPV Company) which incorporated in November, 2016, making it an associate of the Company. The Board of Directors has proposed in its Board Meeting held on August 14, 2023 to alter object clause of the Memorandum of Association of the Company by inserting Agricultural chemical and product and other chemical products in its existing object clause and Members has approved such amendment in the Annual General Meeting of the Company held on September 30, 2023. In 2023-24, Company has incorporated 99.99% stake in its wholly owned Subsidiary Company M/s. Shah Agrocorp Private Limited.