A part of the well-known Indore-based Shri Ishar group, Indore Wire Company was orginally promoted by Morarka & Tibrewalla. Hukumchand Mills took charge of the loss-making company but was unable to revive it. The present management took over the sick unit in 1979. In a span of two years, the company managed a turnaround and has consistently shown profits since. Its product range consists of a variety of high-carbon steel wires, MS pipes, PC wires and earth/stay wires, with applications ranging from railway sleepers and bridges to electricity transmission. The current installed capacity is 20,400 tpa. It recently started exporting to Nepal and Sri Lanka. IWCL, which went public in 1993, has decided to expand into two new product lines of stainless steel wire and low relaxation PC wire strands. It plans to tap the capital market to fund the project. The new plant at Pithambur for Stainless Steel wire , has commenced production in the first phase. The Low Relaxed P C Strand line is also commissioned. During 1997-98, the company has also expanded its Steel Wire capacity by 15000 MT.