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PSL Ltd.

BSE: 526801 Sector: Metals & Mining
NSE: PSL ISIN Code: INE474B01017
BSE LIVE 15:40 | 13 Dec 3.58 -0.10
(-2.72%)
OPEN

3.55

HIGH

3.65

LOW

3.52

NSE 15:27 | 13 Dec 3.60 0.05
(1.41%)
OPEN

3.55

HIGH

3.65

LOW

3.50

OPEN 3.55
PREVIOUS CLOSE 3.68
VOLUME 8334
52-Week high 8.00
52-Week low 2.73
P/E
Mkt Cap.(Rs cr) 45
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 3.55
CLOSE 3.68
VOLUME 8334
52-Week high 8.00
52-Week low 2.73
P/E
Mkt Cap.(Rs cr) 45
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

PSL Ltd. (PSL) - Company History

PSL Limited (PSL) is the largest manufacturer of high-grade large diameter Helical Submerged Arc Welded (HSAW) pipes in India, which was incorporated on 24th August 1987 as a Private Limited Company. PSL manufactures and supplies pipes certified to API (American Petroleum Institute) standards for oil, gas and water transmission as well as structural and piling applications for both onshore and offshore sector. With 12 pipe mills at multiple and strategically coast-based locations in Kandla, Chennai, Visakhapatnam, Ahmedabad, and Jaipur along with the recently commissioned Sharjah unit the company producing pipes, which accounts annual capacity of 1,175,000 MT per year. Other business segments that PSL caters to, include pipes coating, induction pipe bending and sacrificial anode manufacturing, rebar coating, modular furniture and structural building fabrication. The Company commenced its commercial operations for pipe coating plants and Fusion bonded epoxy coating plants in the year 1988 and 1989 respectively. PSL in technical collaboration with Lilly Powder Coating Inc (U.S.A), commissioned a plant for manufacture of Epoxy Powder Paint in special grades used for oil and gas pipelines, potable water and product, pipelines during the year 1990. The modern plant of the company was commissioned at Kandla in 1992 with a capacity to manufacture 1500 MT per annum of Galvalum Sacrificial anodes for cathodic protection system. In technical collaboration with UPC (Management Services) Ltd of U.K. the company had established the first Internal Pipe Coating facility in India at its Daman yard in the year 1993. PSL became a deemed Public Limited Company with effect from 1st July of the year 1994. The Company had set up 75,000 tonnes MS Saw Pipe plant in Vaiyavoor at Chennai (Tamil Nadu) during the year 1996 and also set up 70,000 m2 CML Internal pipe coating plant in the same location during the year 1997. PSL had established 2500km CTE pipe coating plant in Nani Chirai - Kutch at Gujarat in the year 1999 and in 2001, set up 7,50,000 m2 Internal Coating Plant in Vizag. An order worth Rs.605 crs was obtained by the company from Gas Authority of India in the year 2002 for decay protection and pipe coating. During the year 2003, PSL bagged prestigious contract from Indian Oil Corporation for an aggregate value of Rs. 122.85 crs and worth of Rs. 1450 million orders from L & T Ltd to carry out the Visakhapatnam Industrial Water Supply Project. The Company incorporated Pipeline Systems Limited as a wholly owned subsidiary in November of the year 2004, as a category - 2 Global Business Company in Mauritius. For the various purposes, PSL joined its hands with Deutsche Bank in the year 2005. During the year 2005-06, in order to keep up with the technological advancement in industry, a state-of-the-art Two-Step Pipe Mill costed Rs.150 Crores was established by the company at Varsana in Gujarat. PSL formulated a joint venture company in the State of Delaware, USA during November, 2006 as PSL North America LLC. Keeping in view the rising demand for company's products in North America, PSL incorporated PSL USA INC as a wholly owned subsidiary in December of the year 2006 in the State of Delaware, USA. PSL added a fifth dimension to its national pipe manufacturing grid with existing facilities at Kandla and Ahmedabad in Gujarat, Chennai in Tamil Nadu and Vizag in Andhra Pradesh by commissioning a newly installed pipe mill at Jaipur in Rajasthan during the year 2006-07. The first Mill at Rajasthan was commissioned and put into operation in March of the year 2007 followed by installation and commissioning of the second Mill at the same location, commissioned i.e., within four months in August of the same year 2007. In April 2008, the company received two contracts worth of Rs 12.25 billion from Larsen & Toubro and HPCL Mittal Pipelines to supply steel pipes for both oil and water pipelines. The new pipe manufacturing facility set up by company's subsidiary namely PSL North America LLC (PSL NA) at Port Bienville Industrial Park in the state of Mississippi, USA has been effectively commissioned consequent upon rolling of unit's first pipe in October 2008. PSL is likely to diversify into development of special economic zones (SEZ), with the company getting the stage-1 approval from the Centre to set up an exclusive SEZ for alternative energy and energy ancillaries at Pipavav in Gujarat.