PRAKASH STEELAGE LTD

Incorporated on May 9, 1991 as Prakash Steelage Private Limited' with the Registrar of Companies, Mumbai, the Company was later converted into a Public Limited as Prakash Steelage Limited', w.e.f. August 12, 1997. The core business of the Company is manufacturing and exporting stainless steel tubes and pipes. They are having their units situated at Silvassa in Dadra and Nagar Haveli and Umbergaon in Gujarat with total installed production capacity of 15,600 MTPA. The company is an ISO 9001: 2008 and PED certified Company. They are also a 'Govt. Recognized Star Export House' exporting to several MNC's into more than 40 countries across the Globe. The company's pipes and tubes are available in sizes ranging from 1/4' NB to 24' NB Schedule 5, Schedule 10, Schedule 40, Schedule 80 etc., and 6.00 mm to 114.40 mm Outer Diameter with wall thickness from 0.50 mm to 6.00 mm. The customer base includes a diverse set of industries including Oil & Gas, Power, Pharmaceutical, Petrochemical, Sugar, Dairy, Automobile, Desalination etc. They have developed their marketing network in various cities such as Ahmedabad, Delhi, Hyderabad, Chennai and Mumbai. Their products have found wide acceptance in the markets of North America, South East Asia, Africa, Middle-East and Europe. Their clients include BGR Energy Systems Ltd, Bharat Heavy Electrical Ltd, KBK Chemie Ltd, Chandan Steel Ltd, Kudos Chemie Ltd, Mojj Engineering Systems Ltd, Praj Industries Ltd, Steelage Overseas Pvt Ltd, Unitech Machine Ltd and Top Honest INC. Prakash Steelage Limited, a flagship company of Prakash Group was incorporated in May 9, 1991 as a private limited company as 'Prakash Steelage Private Limited'. Initially, the company started with the trading activities i.e; trading in the stainless steel sheets, coils and plates. In the year 1996, the company started their manufacturing activity by setting up their first plant at Silvassa in the Union Territory of Dadra and Nagar Haveli with a capacity of 4000 MTPA. The unit was set up for producing welded stainless steel and seamless pipes & tubes. In year 2002, the company was awarded the ISO 9001 : 2000 certification for their unit at Silvassa. In the year 2005, the company was recognized as Export house by the Government. In the year 2007, the company started their second state of the art manufacturing facility at Umbergaon in Gujarat with an installed capacity of 8200 MTPA, considering the huge demand and future business potential. Also, they further expanded the production capacity by 3,400 MTPA, making the total to 15,600 MTPA. In the year 2008, the company was certified as PED (Pressure Equipment Directive), AD - 2000 - Merkbatt W O EIL, Llyods & IBR Approved Company. In the year 2009, the company was awarded with TUV Certificate for their unit at Silvassa by TUV Rheinland Industrie Service GmbH, Cologne, Germany. Also, the company was awarded with BS OHSAS 18001-2007 by RINA SpA, Genova, Italy and ISO-14001-2004 by RINA SpA, Genova, Italy. In the year 2010, the company was recognized as Star Export House by Government of India. Also, they received the vendor approval from Kuwait National Petroleum Company (Kuwait). In August 25, 2010, the company shares are listed in the Bombay Stock Exchange Ltd and National Stock Exchange Ltd. The company plans to foray into Duplex, Super Duplex and Super Austenitic pipes/ tubes. Also, they proposed to expand the production capacity to 19,000 MTPA. During year 2010-11 the Company went for Initial Public Offering which increased the Share Capital from Rs. 1125 Lacs to Rs. 1750 Lacs and resultantly, the Equity Shares of Company got listed with the National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Ltd. (BSE) on 25 August, 2010. The Umbergaon Project of the Company was expanded which increased capacity to 19000 MTPA in 2012. The Company incorporated a Wholly Owned Foreign Subsidiary in UAE in the name Pioneer Stainless & Alloy, F.Z.E.' with effect from 10th April, 2013, to carry out the business of trading through import and export of steel and basic steel products. The Company expanded its capacity by setting up another plant at Umbergaon in Gujarat with total capacity of 20,500 MT during the year 2013-14. During year 2013-14, the Company embarked in expanding business activities by making a Strategic Alliance with M/s. Karagwal Developers Private Limited for developing the idle land located at Taluka Umbergaon in Gujarat. Under the said Strategic Alliance, the Company introduced 'Krishna Industrial Park', to built industrial plots for factories, warehouses, workshops, service stations, etc. In FY 2014-15, a Joint Venture Agreement was executed between the Company and Tubacex S.A. Spain on February 13, 2015. Accordingly, the Company incorporated Joint Venture (JV) Company 'Tubacex Prakash India Private Limited' as a Wholly Owned Subsidiary, and transferred its 'Seamless Stainless Steel Tubes and Pipes' Business to Tubacex S.A. Spain (JV Company), through the Business Transfer Agreement on 25 July, 2015 executed between the Company and the JV Company. Further to allotment of Equity Shares of JV Company on 27 July, 2015, the holding of Tubacex S.A. Spain was 67.53% and the holding of Company was 32.47% into the JV Company. Subsequently, the JV Company which incorporated as a wholly owned subsidiary of the Company became an Associate Company. The Company had formed strategic alliance with Kargwal Developers Private Limited (Co-promoter Omkar Group) for developing an Industrial Park in the name of 'Krishna Industrial Park' on its idle land located at Palgam, Umbergaon, Gujarat.