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MSL Industries Ltd.

BSE: 513242 Sector: Industrials
NSE: MSLIND ISIN Code: INE626C01010
BSE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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MSL Industries Ltd. (MSLIND) - Company History

Incorporated in Bihar on 7 May '71, MSL Industries (MIL), was promoted by M P Modi and his sons. In 1993-94, the company acquired its present name. It manufactures cold-rolled and galvanised steel strips, and insulating and sheathing polymer compounds. MIL started operations in 1973 with the production of cold-rolled steel strips. Subsequently, in 1985, it commenced manufacturing hot dip galvanised steel tapes, primarily required by the tele-communication and power cable industries. MIL took up a project to expand and modernise its existing cold-rolling mill at Patna, which enhanced the annual capacity to 10,000 tpa from the existing 4400 tpa. Subsequently it was increased to 40,000 tpa by 1993-94. In 1989-90, MIL set up Hind Polymers at Surajpur (Ghaziabad district), UP, to manufacture 8000 tpa of insulating and sheathing polymer compounds required for Polyethylene jelly-filled cables and dry-core telephone cables. A high-tensile steel project to manufacture 7000 TPA was completed in 1992-93. Expansion & Modernisation of Polymer division was completed in 93-94. The proposed new project for setting up a plant to manufacture Hi-Tech Power Cable Compounds at Calcutta have not become favourable. The Networth of the company was fully eroded and the company has submitted an application to its Bankers. The company has a proposal to bifurcate its two units since there is not much energy in two divisions viz Steel and Polymers Division.