the indian steel and wire products Limited

About THE INDIAN STEEL & WIRE PRODUCTS LIMITED Unlisted/Delisted Shares

Established in 1920, the Indian Steel and Wire Products Limited became the first wire drawing company in the country. Nestled amidst the verdant surroundings of India’s first industrial city, Jamshedpur, the company gradually spread roots and is now a primary manufacturer of wire rods, TMT rebars, wires, welding products, nails, rolls, and castings.

A subsidiary of Tata Steel, we became a part of the global steel giant back in 2003 and are committed to the highest standards of quality and service. The Wire Rod Mill and Wire Mill act as the conversion agents of Tata Steel and Tata Steel Global Wires respectively, wherein the parent plant supplies the raw material and also markets the finished good. We also are the proud pioneers in the rolls industry.

Marketed under the brand name ‘JEMCO’, our rolling and casting products boast a prominent presence across the globe. The electrodes and nails divisions, under the umbrella of the brand name ‘SPARK’, also form an integral part of the company’s business venture. Our state-of-the-art Welding Technology Centre further augmented by the treasure of experience and expertise in the field of welding consumables results in a quality that is distinguished and paramount.

INCORPORATION DETAILS

BOARD OF DIRECTORS

Mr. Umanath Mishra Chief Financial Officer

Mr. Neeraj Kant Managing Director

Mr. Indrajit Nandi Vice President (Engg. & Projects)

Mr. Vijayant Kumar Vice President (Rod Mill & IT)

Mr. Rabi Narayan Kar Company Secretary

Mr. J. K. Singh Vice President (Wires and Grapheme Business) 

Shareholders holding more than 5 % shares in the company as of 31 March 2021

INDUSTRY OUTLOOK

After the outbreak of the COVID-19 pandemic in 2020, ICRA had assigned a 'negative' outlook on the sector expecting a record fall of 20% in domestic steel demand during the financial year ended March 2021. However, it later upgraded its outlook for the sector to 'stable' on the back of improving demand and prices.

In a statement, ICRA said, "It has revised the steel sector's outlook to 'positive' from 'stable' following all large listed steel companies reporting their best-ever quarterly performance in Q1 (April-June period) of the financial year 2022, and the earnings outlook remaining healthy for the remaining months of FY2022."

Given the strong earnings growth and capital expenditure (CAPEX) curtailments following the pandemic-related uncertainty, steelmakers started to aggressively de-leverage since the second quarter of FY2021. This trend is reflected by the industry's consolidated debt levels declining to ₹2 lakh crore in July-end 2021, from ₹2.6 lakh crore in July-end 2020, registering a sharp decline of over 21% 

The industry's consolidated borrowings today are at their lowest levels since March 2012. On taking a closer look at the industry's consolidated borrowing per metric tonne of installed capacity, it stood at $180 per tonne in July 2021, shrinking by almost half from $350 per tonne prevailing in November 2008.

This, ICRA said, suggests that domestic steel companies are now significantly less leveraged than in FY2009, when the last steel supercycle ended, following the global financial crises.

 FINANCIALS AT GLANCE

Standalone Statement of Profit and Loss for the year ended 31 March 2021 (Amounts in Lakhs)

Standalone Balance Sheet as of 31 March 2021 (Amounts in Lakhs)

 Dividend History 

 PERFORMANCE OF THE COMPANY

.During the year under review, the revenue of the Company was Rs. 28,766.36 Lakhs, higher by 1.68 % over the previous year’s revenue of Rs. 28,294.16 Lakhs. The profit for the year before taxes was Rs. 1,625.99 Lakhs compared to a profit of Rs. 3,971.99 Lakhs in the previous year.