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Steel Tubes of India Ltd.

BSE: 506059 Sector: Metals & Mining
BSE 05:30 | 01 Jan Steel Tubes of India Ltd
NSE 05:30 | 01 Jan Steel Tubes of India Ltd

Steel Tubes of India Ltd. (STEELTUBES) - Company History

The company was originally incorporated in 1956 in the name of Shamlal Janakraj which was changed in 1966 to the present one. It went public in 1975. The company was promoted by R B Baheli & K N Garg. Company has its present product range includes tubes of diameters ranging from 6 mm to 76.2 mm and thicknesses varying from 0.45 mm to 3.65 mm. It caters to a wide spectrum of industries like bicycles, automobiles, transformers, boilers, shock-absorbers, furniture umbrellas and general engineering. It also produces CRCA strips of widths ranging from 30 mm to 450 mm and of thicknesses ranging from 0.1 to 2.5 mm. The company came out with a issue of convertible debenture in May '91 to part-finance a modernisation-cum-balancing-cum-expansion scheme. STI group has implemented a 330 MW Power Project at Guna for which a separate project comoany i.e STI Power India Ltd has been incorporated. In 1996-97 it has made satisfactory progress on all fronts. During 1996-97 it has also commissioned a Solar Power Project and started generating electricity. Company has entered into Agreement of Strategic Alliance with Tube Investment of India Ltd for processing and converting their material into finished tubes with an objective of Optimising production facilities, Product development through collective know-how and technologes and Upgrade Customer Service through Co-Operative marketing. This Agreement initially for five years from 1st May, 1999 to 30th April, 2004. The second year of Strategic Alliance operation was completed successfully.