ISC launches retail steel stores in Gujarat

Foraying into steel retail, the Indian Steel Corporation Limited (ISC) has unveiled its first ISC Steel Zone, a franchised retail store in Ahmedabad. While the company has in all launched two such stores in Gujarat, going forward, ISC is looking at 150 more such stores in the next six months.

A joint venture of Ruchi Group & Mitsui Co. Ltd , Japan, ISC is a leading manufacture of galvanized steel and cold rolled steel coils/sheets from its Kandla plant in Gujarat with annual capacity of 250,000 metric tonnes of cold rolled steel. The company is expanding its capacity to 600,000 metric tonnes by March 2011, which would include colour coated material as well. "The retail foray in steel will be backed by an expansion of manufacturing capacity to cater to the growing demand. In next six months we intend to open 150 more ISC Steel Zones, of which 50 will come up in Gujarat alone," said Rajeev Agrawal, AGM - Marketing, Indian Steel Corporation Limited.

 

Post expansion, ISC will become one of the leading flat steel manufacturers in India as well, with a capacity to supply 4 ft wider GC & 5 ft wider CRCA steel.

"ISC is the pioneer in branded galvanized and Cold Rolled steel products. ISC Steel Zone will take this philosophy of branded steel retailing further. It will not only enhance the availability of ISC products but will also help the consumers make the right choice for their application with the quantity that they desired," said Umesh Shahra, Managing Director, Indian Steel Corporation.

Speaking on the occasion Arjun Zalani, executive director, asserted that increased availability of their products from these exclusive outlets owned by company dealers will go a long way in redefining the consumer steel retail market in the state.

"Our strategy is to have branded retail outlets for our dealers. Unique feature of our retail model that it is offering quality products with the quantity at the right price to the customers. ISC expects to generate 40 per cent of its domestic sales through ISC Steel Zone by 2012. It plans to open 150 ISC Steel Zones by Dec 2011 and add another 200 in 2012 across India," said Zalani.

ISC's markets its retail galvanized plain steel under brand names, 'Indian Tadka' and 'Indian Makkhan', and galvanized corrugated sheets under the brand name 'Indian Ultratuf'. Going forward, the company, which pegged a turnover of Rs500 crore for the fiscal 2009-10, is looking to double it to Rs1,000 crore by March 2011.