KALYANI STEELS LIMITED

Kalyani Steels Limited (KSL) is a part of the over $3.0 billion Kalyani Group. Established in 1973, the Company is an integrated manufacturer of diverse range of steel products with its manufacturing facility located at Hospet Works in Karnataka. The Company is primarily engaged in the business of manufacture and sale of Iron and Steel Products. It operates mines in Bellary region of Karnataka and the Captive coke plant is set up in Bellur Industrial Estate in Dharwad, Karnataka. During the year 1997, the company had set up its Ginegera Plant. The Company had entered into a technical and management consultancy contract with the Gulf Venture, Company at Doha, in the State of Qatar for processing scrap in the year 1979. In 1981, to manufacture 1, 00,000 sets of hydraulic air and air over hydraulic brakes and brake systems, the Company promoted a new company under the name and style of Kalyani Brakes Ltd in collaboration with Bendix Group of Companies, U.S.A. Chakrapani Investment & Trader Ltd and Suryamukhi Investment & Finance Ltd became wholly owned subsidiaries of the company in the year 1983. After two years, in 1985, Laddle Furnace Vacuum Degassing Equipment was installed in the company. Dandakaranya Investment & Trading Ltd., Dronacharya Investment & Trading Ltd., Hastinapur Investment & Trading Ltd., Cornflower Investment & Finance Ltd. and Campamela Investment & Finance Ltd. ceased to be subsidiaries with effect from 12th October of the year 1989. KSL embarked upon an integrated steel making project of 2, 90,000 tpa in the year 1995 at village Ginegera, dist. Raichur in Karnataka. In 1997, the company made a joint venture agreement with Carpenter Technology Corporation, USA for manufacture and marketing of speciality steels. The same joint venture had opened its first steel services centre in Pune district during the year 2000 to provide rapid delivery of stock anywhere throughout India. In 2004, the company had forged alliance with Gujarat NRE and also KSL had set up its Bharat NRE Coke at Dharwad. The Company had commenced its Sirguppa operations in the year 2005 and also in the same year, KSL had started its Captive Power Plant at Ginegera. During the year 2006-07, Bharat NRE Coke Limited (BNCL), a company incorporated, in terms of an agreement between Kalyani Steels Limited (KSL) and Gujarat NRE Coke Limited (GNCL), had commissioned Stamp Charging Equipment at Dharwad and also in the same period KSL had entered into an Agreements, with SJK Steel Plant Limited (SJK Steel) and its Promoter and other shareholders to acquire substantial control of SJK Steel, through purchase of Equity and Preference Share Capital of SJK Steel, after restructuring of its capital as per Corporate Debt Restructuring Scheme (CDR Scheme) sanctioned by Financial Institutions / Banks and fulfillment of certain terms and conditions. In 2007, the company had acquired SJK Steel Plant at Tadipatri and also in the same year KSL had signed a Joint Venture Agreement with Gerdau S.A., Brazil to share the equity partnership of 45% each in SJK Steel Plant. The Kalyani Gerdau JV planned to enhance its capacity to 1.6 million TPA of finished steel in the next few years. KSL had inked a Memorandum of Understanding (MoU) with state industry and minerals officials for Rs 65 billion integrated steel and power project in West Bengal during February of the year 2008. The Hon'ble High Court of Judicature at Bombay by its Order dated 12th March, 2010 had approved the Scheme of Arrangement between Company, Chakrapani Investments & Trades Limited, Surajmukhi Investment & Finance Limited, Gladiolla Investments Limited and Kalyani Investment Company Limited. As a result of the said Order, the Investment Division' of Company was transferred to and vested in Kalyani Investment and Chakrapani, Surajmukhi and Gladiolla, wholly owned subsidiaries of Company are amalgamated with Kalyani Investment, with effect from 1st October, 2009, the 'Appointed Date'. The Scheme became effective on 31st March, 2010. The Rolling Mill started its commercial production with effect from 28th March, 2013. 33m2 Circular Sinter Plant was commissioned on 4th March, 2013. The Company installed Stoves on MBF - I and Coal Injection System. The Company commissioned second Sinter Plant in 2013-14, commissioned Hot Blast Stoves. During 2016, Lord Ganesha Minerals Private Limited became a subsidiary of the Company. The Company later, commissioned Coke Oven Plant of capacity 200,000 MT per annum along with Waste Heat Recovery based captive power plant of capacity 17 MW at Hospet, Karnataka in FY 2023.