Electrosteel Castings Share price

ECL incorporated in 1955 as Dalmia Iron & Steel Ltd. waspromoted by Orissa Cement Limited (OCL) Dalmia Cement(Bharat) Ltd. (DCBL) and Shri G. Kejriwal for themanufacture of grinding media steel castings and cast ironspun pipes at Khardah near Calcutta. In 1958 ECL (thenDalmia Iron & Steel Co. Ltd.) commenced commercialproduction of steel castings and grinding media at Khardah.Later the company also set up facilities for manufactureof Cast Iron Spun Pipes. The CI Spun Pipe Section atKhardah has at present an installed capacity of 75600tpa. In 1963 the management control of the company came inthe hands of the Kejriwal family of Calcutta. In 1965 thecompany''s name was changed to Electrosteel CastingsLimited. In 1972 ECL set up a scrap based steel plant atGhaziabad U.P. with a continuous casting facility for themanufacture of ingots/billets and in 1982 the companycommenced manufacture of grinding media at its GhaziabadUnit. During 1981-82 the company acquired (through HighCourt Sale) a sick and closed CI spun pipe unit of SaktiPipes Limited located at Elavur near Madras in Tamil Nadu.The unit has since been revived and turned into a profitmaking unit. The present installed capacity of this unit is50000 tpa of CI Spun Pipes. In 1991 the company set up a unit at Bangalore formanufacture of hybrid seeds mainly for exports. This unitdid not take off and had been making losses. The companyhas sold off this division in the current financial yearthe details of which are given on Page No. 25.In 1991-92 ECL undertook a project to set up a plant formanufacturing 60000 tpa of Ductile Iron spun pipe at itsexisting works at Khardah at an estimated cost of Rs.4688lacs. The project was financed by debentures and internalaccruals and has begun commercial production from January1994. At present ECL is the only company in the countrymanufacturing DI spun pipes.