|Traded as||BSE: 500055, NSE: BHUSANSTL, ISIN: INE824B01021
BSE SENSEX Constituent
|Headquarters||New Delhi, India|
|Brij Bhushan Singal
(vice chairman and managing director)
|Products||Cold rolled, galvanised, Bhushan Galume, colour coated tiles, drawn tubes, strips, wire rods, alloy billets, sponge iron|
Bhushan Steel Limited is the largest manufacturer of auto-grade steel in India Bhushan Steel, with a large amount of debt in proportion to its equity (3.5 times more), is a highly leveraged company. The company's consolidated debt stands at ₹31,839 crore, having risen 18 per cent from a year ago. The Company is spending Rs. 260 billion to expand its capacity to 12 million tonnes annually, from the present installed capacity of around one million tonnes.
Financials and management
Gross sales of Bhushan Steel grew from Rs.5 billion in 2001 to Rs.40 billion in 2007. It earned net profits of Rs.3.13 billion in 2007 and exported goods worth Rs.12.57 billion. Its exports include steel for both the automotive and white goods industry and the list of countries to which it exports includes several developed countries.
Brij Bhushan Singal is chairman of the board of directors of Bhushan Steel. Neeraj Singal is the managing director of Bhushan Steel Limited.
The Khopoli plant in Maharashtra was commissioned in 2004 and has been producing colour-coated sheets, high-tensile steel strappings, hardened and tempered steel strips for the first time in India, along with CRCA steel to cater to the needs of the automobile industry.
Bhushan Steel Ltd announced that its board of directors in a meeting held on 22 January 2007 approved the following projects – (1) Setting up of an integrated steel plant in West Bengal with facilities including slab plant, coke ovens and captive power plant. (2) Setting up of a 6 million tonne per annum integrated steel plant as an expansion of its existing plant being set up at Meramandali (Distt Dhenkanal) in Odisha.
Its biggest expansion is in Odisha – it has signed an agreement with the Government of Odisha for setting up of a three million tonnes capacity steel plant at Meramandali in Dhenkanal district, and as part of its total integration of the steel value chain, Bhushan Steel is in the process of setting up a power plant and an advanced hot rolling plant on 3,200 acres (13 km2) at Meramandali in Dhenkanal district near Angul, at a cost of 52 billion and its subsequent backward integration and expansion to 4 million tonnes.
In West Bengal, Bhushan Steel has signed an agreement with the Government of West Bengal and West Bengal Industrial Development Corporation Ltd. to set up a two million tones steel plant at Salanpur in Bardhaman district. The cold rolling and galvanizing unit will be set up in North 24 Parganas district. It has also zeroed in on Kharagpur for another power and 2 million tones steel plant and is in talks with the state government for allocation of about 4,000 acres (16 km2) of land.
In Maharashtra, Bhushan Steel has signed an agreement with the Maharashtra Industrial Development Corporation (MIDC) to invest Rs13.50 billion at Butibori.
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