Impressive Show By Balasore Alloys - by mittar_b
Balasore Alloys Limited formerly known as Ispat Alloys was incorporated in the year 1984 and started its commercial production in the year 1987. The company is a member of the Ispat Group of companies which are owned by the world renowned Mittals.The company has been certified with ISO 9001 certification The company is engaged in the Ferro alloy business. The company manufactures and exports Ferro chrome, charge chrome and Ferro alloys. The company uses the electrometallurgical process in submerged arc furnaces in order to produce Ferro alloys with a capacity of 60 MVA divided into five furnaces. The other group companies associated with the company are Ispat Industries, Ispat Metallics India, Ispat Profiles India, Gontermann Peipers India etc. The company integrates the most advanced technologies into its manufacturing process to ensure that they provide desired quality of their products to the customers. The advanced process of technologies and sophisticated equipment has been acquired from the global leaders of Metals and Ferro Alloy equipment. Different types of Ferro Alloys are produced in Submerged Electric Arc Furnaces. A highly sophisticated on line computerized monitor systems controls all aspects of furnace operation.
The products that are manufactured by the company are as follows:-
- Metal and Metal Products
- Iron and Steel
- Ferro Alloys
- High Carbon Ferro Chrome
- High Chrome Charge Chrome
- Silico Manganese
The company has acquired about 100 hectares of chrome ore mines in Sukinda Valley in Orissa in order to execute mining operations. The company has its own captive power generation facility of 21 MW to meet the requirements of power and has a well Equipped Laboratory with all modern facilities for evaluating various Ferro alloys and raw materials. The company is also one of the leading exporters of Ferro alloy products. The company has increased its export volumes and is presenting exporting more than 80 % of the total production. The Company has been exporting Ferro alloy products in more than 26 countries with the main countries including USA, Japan, Korea, Europe, Taiwan etc. Export volume of the company has increased more than 11 times during the last five years and share in global market has also increased by 50% during the last 2-3 years. It is expected that the International Ferro Chrome market will grow very rapidly in the next 3-4 years due to the strong growth of Stainless Steel in International market and due to the power crisis in South Africa which will boost the Ferro Chrome Industry of the country and the company will be benefited a lot from these situations.
The major clients of the company in the country are as follows:-
- JINDAL STRIPS LTD.
- SHAH ALLOYS LTD.
- CHANDAN STEEL LTD.
- SYNERGY STEEL LTD.
- MUKUND INDUSTRIES
The Company has shown a tremendous rise in its results for the Quarter Ended, June 2008. The Net Profit of the company showed an impressive growth of 318.34% to Rs. 22.53 crores as against Rs. 5.38 crores during the corresponding Quarter Ended, June 2007. Net sales of the company for the Quarter Ended, June 2008 surged by 95.88% to Rs. 186.80 crores versus Rs. 95.36 crores in the same time period last year. Total Income of the company for the same Quarter witnessed a hike of 92.48 % to Rs. 189.35 crores as against 98.37 crores in the same time period last year. Export Turnover for the Quarter increased by 114.10 % to Rs. 156.32 crores as against Rs. 73.01 crores in the Quarter Ended, June 2007 while Total expenses of the company increased to Rs. 133.16 from Rs. 79.14 in the same time period last year. Share price of the company also increased by 288.89 % at Rs. 3.50 per share as compared to Rs. 0.90 per share for the Quarter Ended, June 2007.