The company is the market leader in branded TMT Bars and 'Kamdhenu TMT Bar' is the largest selling TMT Bar in India, in the retail segment with brand sales turnover of Rs 21,000 crore in FY23.
In India, the demand for TMT steel bars is on an upward trajectory, spurred by robust construction activities in both urban and rural areas. These bars are favored for their strength and durability, making them essential for infrastructure development and real estate projects. As the nation continues to invest in modernisation and building resilient structures, the demand for TMT bars is expected to maintain its strong growth momentum.
For the first half (April to September) of the financial year 2023-24 (H1FY24), Kamdhenu had reported 3 per cent year-on-year (Y-o-Y) growth in revenue at Rs 393.6 crore. Profit after tax grew 22 per cent Y-o-Y at Rs 22.2 crore. The company's Ebitda margin improved to 7.4 per cent from 7.2 per cent in H1FY23.
Meanwhile, steel companies in India have been committed to modernising and adopting advanced technologies for steel production. The industry is also experiencing consolidation through mergers, acquisitions, and alliances. Many Memorandums of Understanding (MoUs) are being signed to encourage investment in the steel sector.
"The Indian Government has taken several measures to support the steel industry, such as reducing import duties on raw materials and implementing the Goods and Services Tax (GST) to streamline the tax structure. These steps, coupled with increasing urbanisation and the Government’s focus on infrastructure development, are positioning the Indian steel industry for further growth," Kamdhenu sair in its FY23 annual report.
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