Vraj Iron And Steel rallied 3.66% to Rs 231 after the company successfully commenced commercial operation of sponge iron plant on 23 December 2024 of expansion project located at Dighoia, Bilaspur in Chhattisgarh.
The company stated that the power plant equipment's commissioning has started and hopes that in the next quarter it will be able to achieve the commercial production of power plant.Incorporated in June 2004, Vraj Iron and Steel manufactures sponge iron, M.S. billets, and TMT bars under the brand Vraj. It runs two manufacturing plants in Raipur and Bilaspur, Chhattisgarh, covering 52.93 acres. As of March 2023, the total installed capacity of the manufacturing plants was 231,600 tons per year, including intermediate and final products.
The companys consolidated net profit slipped 47.75 to Rs 10.29 crore on 23.9% slide in net sales to Rs 87.55 crore in Q2 FY25 over Q2 FY24.
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