Godawari Power slips 2% on suspending ops at Boria Tibu iron ore mines

Godawari Power and Ispat share price: Shares of Godawari Power and Ispat rose as much as 1.92 per cent to hit an intraday low of Rs 186 per share on Wednesday, April 2, 2025.

 

The drop in Godawari Power and Ispat share price came after the company said that mining activities at Boria Tibu, Chhattisgarh, have been temporarily suspended with effect from April 1, 2025.

 

In an exchange filing, Godawari Power and Ispat, said, “This is to inform you that the mining activities at Boria Tibu have been temporarily suspended with effect from April 1, 2025 in view of expiry of mining plan approval for company's Boria Tibu, Iron Ore mines situated at village: Boria Tibu Dist: Rajnandgaon, Chhattisgarh as approved by Indian Bureau of Mines has expired on March 31, 2025.”

 

 

The annual rated capacity of the Iron Ore Mine is 705,000 TPA, as per the previously approved mining plan. 

 

The company also informed that it has already applied for the renewal of the mining plan, and approval for the renewal is still pending.  ALSO READ | Stock Market LIVE Updates: Sensex 250 pts higher at 76,270; Nifty at 23,200

 

“We would like to further inform you that the operations at mines will be resumed after receipt of renewal approval from Indian Bureau of Mines, which is expected to take around 10 days. A suitable intimation shall be given to exchange upon receipt of approval to restart the operations in the said mines,” said Godawari Power & Ispat.

 

The company also clarified that there is no significant financial impact on its performance, as the contribution from the mine to the company's profitability has been negligible so far due to the high operational costs.

 

About Godawari Power & Ispat 

 

Godawari Power & Ispat (GPIL), formerly known as Ispat Godawari Ltd. (IGL), was established in 1999 to develop an integrated steel plant with captive power generation facilities. 

 

As a leading player in the steel industry, GPIL specialises in the production of mild steel wires and has a strong presence in the long product segment.   ALSO READ | Shri Ahimsa Naturals post solid debut; shares list at 18% premium

 

The company’s operations encompass the entire manufacturing value chain, from raw materials to finished steel products. 

 

GPIL produces sponge iron, billets, Ferro alloys, wire rods (through its subsidiary), steel wires, oxygen gas, fly ash bricks, and pellets. Additionally, the company has secured rights for iron ore and coal mining for captive use, further solidifying its position as a fully integrated steel manufacturer.

 

The market capitalisation of Godawari Power & Ispat is Rs 12,757 crore, according to BSE. The company falls under the BSE SmallCap category. 

 

At 9:52 AM, Godawari Power & Ispat shares were off lows, and were trading 0.55 per cent higher at Rs 190.70 per share. In comparison, BSE Sensex was trading 0.27 per cent higher at 76,232.84 levels.