Manaksia Steels Ltd

Manaksia Steels Ltd

Incorporation in 2001MANAKSIA STEELS LIMITED Flagship Company of the Manaksia Groupis engaged in manufacturing of steel products. The company is an ISO 9001: 2015 accredited entity and the product portfolio include Cold Rolled Steel Sheets & Coils Galvanized Steel sheets & Coil. Color Coated Steel sheets & coils. The Company manufactures and sells value added steel products comprising Cold Rolled Coils used in interior and exterior panels of automobiles buses and commercial vehicles Galvanised Corrugated Sheets which find use in the rural housing sector and factory sheds and Galvanised Plain Sheets used in the manufacture of containers and water tanks and Colour Coated (Pre-painted) Coils and Sheets for sale to construction housing consumer durable and other industries.The Hon'ble Calcutta High Court vide its Order dated 24 March 2014 has sanctioned the Scheme of Arrangement under the provisions of Sections 391-394 of the Companies Act 1956 for demerger of Steel Undertaking of Manaksia Limited into Manaksia Steels Limited on a going concern basis. The certified copy of the Order sanctioning the Scheme has been received by the Company on 19 November 2014 and the Company has duly filed the said Order with the Registrar of Companies West Bengal on 23 November 2014. The Scheme has become effective on and from the date of filing with the Registrar of Companies. Upon the Scheme being effective the Company had made application to National Stock Exchange of India Limited and BSE Limited for listing of its equity shares. Accordingly the shares of the Company got listed on both the Stock Exchanges on 30 March 2015.The Company was the wholly-owned subsidiary of Manaksia Limited. Pursuant to Scheme of Arrangement as sanctioned by the Hon'ble Calcutta High Court the Steel undertaking of Manaksia Limited has been transferred to Manaksia Steels Limited on a going concern basis. During the FY2015the Company pursuant to the Scheme of Arrangement as sanctioned by the Hon'ble Calcutta High Court vide its Order dated 24 March 2014 has issued and allotted 65534050 shares to the shareholders of Manaksia Limited one share of Re 1/- each of the Company for every one share of Rs 2/- each held by them.As on 31 March 2016 the Company has a 120000 MTPA Steel Cold Rolling Plant at Haldia for manufacture of Cold Rolled Coils and Sheets and continuous Galvanizing plants at Bankura (30000 MTPA) and Haldia (60000 MTPA). The Company has facilities at Haldia for further value addition of Steel and Aluminium Products where Galvanized Steel Sheets and Cold Rolled Aluminium Sheets are pre-painted /colour coated in a 48000 MTPA colour coating line. The Company has also facilities for Roll Forming/ Profiling for direct supply to projects for industrial roofing as a part of such value addition.During the FY2018 the company set up a subsidiary at Dubai under the name and style of Technomet InternaOonal FZE which acquired two companies at Nigeria namely Far East Steel Industries Limited and Federated Steel Mills Limited - manufacturing steel long products.The COVED-19 pandemic has rapidly spread across the world as well as in India and has caused shutdown of the plant and all offices from 24 March 2020. The Group has resumed operations in a phased manner in line with the directives of the respective local government.