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Ghanshyam Steel Works Ltd.

BSE: 531876 Sector: Engineering
NSE: N.A. ISIN Code: INE993C01014
BSE 05:30 | 01 Jan Ghanshyam Steel Works Ltd
NSE 05:30 | 01 Jan Ghanshyam Steel Works Ltd

Ghanshyam Steel Works Ltd. (GHANSHYAMSTEEL) - Company History

Incorporated as a private limited company in Oct.'88, Ghanshyam Steel Works was converted into a public limited company in Dec.'94. It was promoted by Surendra M Patel and Nayan M Patel. The company set up its plant at Vaghodia, Gujarat, for the manufacture of process equipment utilised in process industries in 1989-90. Commercial production commenced in 1990. It has a capacity to manufacture 50 chemical process vessels and 1250 tpa heavy engineering steel fabrications. The company caters to the needs of various corporate clients like Indian Oil Corporation, Indian Petro Chemicals Corporation, Gujarat State Fertilisers Company, Gujarat Narmada Valley Fertilisers Company, Narmada Chematur Petrochemicals, Reliance Industries, etc. In 1995-96, the company undertook an expansion programme to increase the capacity for the manufacture of chemical process vessels by 200 and heavy engineering steel fabrication capacity by 4750 tpa. It came out with a public issue in Mar.'96 to part-finance its expansion project. During 1996-97, the company has executed orders for various types of equipments for Gandhar Petrochemicals Complex of IPCL at Dahej for SGGU Project of GNFC, Bharuch and other clients. The Company has embarked on a availment of "U" Stamp from USA under M/s Lloyds to address Overseas and indigenous market from global EPC companies like Bechtel, Technip, Hyundai, Samsung, KGP who are presently fore-runner LSTK bidders for majority of Refinery and Fertilizer Expansion Projects. The Company has also endeavoured gradually to widen the spectrum of its operations by undertaking value added businesses for site erection, condensing systems, LPG-LNG systems. The Company is also exploring the possibility of effective procurement via business to business portals. As per the latest Financials the company has become a Sick Industrial company and has made a reference to BIFR.