| Rajesh Shah, managing director, Mukund Ltd, said the company plans to increase its alloy steel capacity from 3,30,000 tonne to 4,60,000 tonne, in the next one year, while its stainless steel manufacturing capacity at Kalwe to 100,000 tonne from the 55,000, in two years. |
| The expansion in both the cases will be effected through de-bottlenecking and productivity improvement measures. |
| "The expansion is for meeting the rising demand posed by automobile, auto components, consumer appliances and infrastructure sectors," said Shah. |
| Mukand is one of the leading alloy steel manufacturers in the country, commanding a market share of about 40 per cent in segments like special steel bars and special alloy steels. In the stainless steel segment, it is a major player particularly in stainless steel long products, bright bars and wires. |
| Mukand bounced back into profitability for the year ended March 2005, achieving a net profit of Rs 184.78 crore for the period, against just Rs 1.83 crore a year ago. |
| Mukand's net sales for the year ended March 31, 2005 stood at Rs 1,672.6 crore, against Rs 1,159 crore a year ago. For the year ended March 2005, Mukand had a debt consideration of about Rs 1,100 crore. |
| "We would be approaching our banks and financial institutions for debt restructuring. We would like to minimise our interest consideration," said Shah. |
| "For the current financial year, Mukand is aiming to achieve a topline growth of 25 per cent over the previous year. Of this, 75-80 per cent would come from steel, and the rest from engineering and road construction," he said. |
| The engineering division of the company has an order book of Rs 200 crore. |
| "Over the next 6-7 years, there is going to be a lot of construction activity in the area of steel plants. Mukand would like to participate in the projects for steel majors like Posco and Tata Steel," he said. |
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