Sharda Ispat Ltd

Sharda Ispat Ltd

Sharda Ispat Limited (SIL) was formerly incorporated as a Private Limited Company with the name Sharda Industries & Engineering Works Pvt Ltd in September 1960. The Company got converted into a Public Limited Company under the name Sharda Ispat Limited on 12 March 1985 and acquired its present name in Oct.'89. The present Promoters of the Company are J K Sarda G D Sarda. Presently it is engaged in Manufacturing and job work of alloy steel flat / rolled products which are used in automobile component industries. Its product range includes hot rolled products of all grades.The Company is in steel business since 1960.For more than six decades SIL is supplying alloy carbon & spring steel rolled products to various automobile OEM component manufacturer as well forging & bright bar industries. Apart from these it is supplying spring steel flat to approved vendors of TATA Motors Ashok Leyland Mahindra & Mahindra Eicher Motors Force Motors AMW etc. The Company is an established leader in all their product segment with the production capacity of the unit as 60000 Metric Tons Per Annum.The Company had set-up unit at Hingna in 1982-83 with an installed capacity of 25000 tpa. For the proposed expansion the company came out with a public issue of 1950000 equity shares of Rs 10 each for cash at a premium of Rs 10 each per share aggregating to Rs 390 lac.In 1995-96 the company came out with modernisation-cum-expansion for iron and steel to increase the installed capacity by 35000 tpa. The New project of automatic rerolling mill at Kamptee Road and modernisation project at Hingna have been completed.Due to the general slow down in economy accompanied by declinig demand for steel during the year 1999 the company is going to make reference to the BIFR for a Sick Company and measures for rehabilitation.The Company was declared sick and the company is expecting that with the rehabilitation measures and support from bank and financial institutionsthe company will come out from its present crisis within a short period and regain its position.