Earthstahl & Alloys Ltd

Earthstahl Alloys Ltd. was originally incorporated as a Private Limited Company under the name Earthstahl Alloys Private Limited on December 09, 2009 with the Registrar of Companies, Chhattisgarh. Subsequently, pursuant to Special Resolution passed by the Shareholders on August 27, 2022, Company converted into a Public Limited and consequently the name was changed to Earthstahl Alloys Limited vide a fresh certificate of incorporation dated September 21, 2022, issued by the Registrar of Companies, Chhattisgarh.Located in steel hub of Raipur Chhattisgarh, the Company is engaged in the business of manufacturing Cast Iron Lumps and Ductile IronPipe Fittings. The Cast Iron Lumps are used as raw material in the steel foundries to manufacture products like: cast iron pipe fittings,machine components such as latche machines, fan components, manhole covers, decorative cast iron pieces, cast iron pipe fittingand other units engaged in manufacturing of steel or cast iron products. Ductile Iron Pipe Fittings are used in public water supplysystems as connectors of pipes.The Company has manufacturing unit located in the Village Duldula about 50 KMs from Raipur, Chhattisgarh spread across an area of around 4.73 hectares of land. Presentlt, it is using waste generated by integrated steel plants, sponge iron plants and rolling mills in the manufacturing process as raw material and recover iron from the left out waste, thus conserving the environment. The plant islocated near to the source of raw material i.e. Bhilai Steel Plant of SAIL and other pellet and sponge iron plants located in Raipurand surrounding area. The strategic location of manufacturing facility ensures access to ferrous waste, steel scrap, pig iron (steel grade), carburizer, ferro alloys and other raw materials like: coal, coke and dolomite required in manufacturing process forming a substantial part of cost of production at a low logistic cost.In 2012, the Company started operations of manufacturing cast iron with one Submerged Electric Arc Furnace with capacity of 3.6MVA to manufacture 10,500 tonnes p.a. of Cast iron Lumps.During FY201415 due to sharp correction in price of steel and increase in price of electricity, the unit started incurring losses. Further due to delay in commissioning and stabilisation of foundry for manufacturing ductile iron pipe fittings, the losses increased. Consequently the plant faced shut down from March 2015 till March 2018. However, the plant resumed operation in March, 2018.In 2017, it started commercial production of manufacturing Ductile Iron Pipes fittings for which Lost Foam based Steel Foundry consisting of one induction furnace with two crucibles, one of 500 KG and another 1000 KG to produce Ductile iron pipe fittings of different dimensions, shapes and sizes used in water supply system was commissioned. Since the Company has been successful in manufacturing Ductile Iron Pipe Fittings of upto 600 mm width with accuracy, consistency smooth surface finish, it commissioned another Submerged Electric Arc Furnace with capacity of 5.5MVA to manufacture 15,750 MTs of Cast Iron lumps in year 2022.The Company is planning to raise capital from Public by issuing 32,40,000 Equity Shares through Fresh Issue.