Incorporated in the state of Gujarat, Inducto Steel Limited (ISL) is engaged in the business of manufacturing of M S Ingots with an installed capacity of 19800 mt. It is spearheaded by chairman and managing director Shanti Sarup Reniwal. During the year 1996-97, production has been affected due to the fire in the plant of the company. In the same year company has come out with a public issue of 23,36,000 equity shares of Rs. 10/- each for cash at par. Due to the sluggish market condition the company has incurred a loss of Rs.9.41 lakhs in the year 1999-2000 as against a loss of Rs.4.30 lakhs in the previous year.