Mahalaxmi group, manufacturers of TMT bar and stainless product, is all set to commission its second rolling mill at Howrah,next month.Announcing that the company will touch the Rs1,000 crore-turnover mark this year, Gopal Agarwal, Managing Director, Mahalaxmi TMT said in Kolkata “The new rolling mill will manufacture 1 lakh tonne of TMT bar annually. And the new mill will produce TMT bars of all sizes.”
Meanwhile, this month, Mahalaxmi group has completed its entire cycle of backward integration by installing its sponge and billet mill near Kolkata making it one of the largest integrated TMT bar manufacturer in the eastern region.
Mahalaxmi TMT Bars are available at a range of 8, 10, 12, 16 mm in Grades of Fe-415,500 at fixed length of 11/12 metres. The premium quality TMT bar has a wide application range in general purpose concrete reinforcement structures, like high rise buildings, bridges & flyovers, dams, thermal and hydel power plants, industrial structures and other sophisticated concrete structures.
In a parallel development Mahalaxmi is on the verge of completion of its new Structural Mill. This project has attracted an investment of Rs30 crore in land and machinery and the factory has been set up in Asansol on a ten-acre land. The turnover for first year is expected to be Rs200 core which shall be upped in the subsequent year to Rs30 crore and by the end of the seventh year the projected turnover is expected to touch Rs700 crore.
To complete the process of backward integration, the company has outrightly bought the mining rights of a large coalmine in Meghalaya taking Mahalaxmi to the league of few select Iron and steel manufacturers in the country who its owns coalmines. The coalmine acquisition is critical in order to bring down manufacturing cost and offer end products at competitive price.
