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Overview

We are a leading integrated metal producing company based in India with a focus on Long Steel Products and Ferro Alloys. We have a consistent track record of delivering operating profitability, and since the commencement of our operations in Fiscal 2005, we have delivered a positive EBITDA in each of the Fiscals.

As of March 31, 2020, we were one of the leading players in terms of pellet capacity and the fourth largest player in the Sponge Iron industry in terms of sponge iron industry capacity in India (Source: CRISIL Report). We operate three manufacturing plants, one in Odisha and two in West Bengal. The aggregate installed metal capacity of our manufacturing plants is 5.71 MTPA as of December 31, 2020(comprising intermediate and final products). Our manufacturing plants also include captive power plants with an aggregated installed capacity of 227 MW as of December 31, 2020 Our Sambalpur manufacturing plant caters to customers in Southern and western regions of India whereas our Jamuria and Mangalpur manufacturing plants caters to customers in Northern and Eastern regions of India.

We operate two “Ore to metal” integrated (forward and backward) steel manufacturing plants, one in Sambalpur, Odisha and one in Jamuria, West Bengal which comprise of captive railway sidings, captive power plants, iron pellet, sponge iron, billet, TMT, wire rod and structural mills and Ferro alloy plants. We also operate a manufacturing plant in Mangalpur, West Bengal which comprises sponge iron and Ferro alloy plants and a captive power plant.

Our integrated manufacturing plants are fungible by design, which insulates us from price volatility and provides us with the ability to quickly adapt to changing market conditions and shift our production and product offerings to meet the continuously changing market climate and optimize our operating margins. Our manufacturing plants primarily produce long steel products such as iron pellets, sponge iron, steel billets, TMT and structural products, and Ferro alloys with a specific focus on high margin products such as customized billets and specialized Ferro alloys for special steel applications.

Our TMT and structural products are sold under the brand “SEL”. We also undertake conversion of hot rolled coils to pipes, chrome ore to ferro chrome and manganese ore to silico manganese for an Indian steel conglomerate. We are in the process of further diversifying our product portfolio by entering into the segments of pig iron, ductile iron pipes and aluminium foil .

We are in the process of adding fresh capacities to our manufacturing plants and captive power plants and diversifying into related segments. Post completion of these capacity expansions the aggregate installed metal capacity of our manufacturing plants and our captive power plants shall increase from 5.71 MTPA as of December 31, 2020 to 11.60 MTPA (comprising of intermediate and final products) and 227 MW to 357 MW respectively. Our product offerings cater to a mix of customers which consist of institutional customers and end consumers through our distribution network.

 

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Our Mangamenent

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Mahabir Prasad Agarwal

Chairman

Mahabir Prasad Agarwal is the non-executive Chairman of our Company. He has been a Director of our Company since April 6, 2018. He is the founder of, and has been a director of, our Subsidiary, SSPL, since its inception and is one of the initial shareholders of our Company. He is actively involved in the CSR activities of our Company and our Subsidiary, SSPL. He has over three decades of experience in the steel and ferro alloys industry.

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Brij Bhushan Agarwal

Vice-chairman and Managing Director

Brij Bhushan Agarwal is the Vice Chairman and Managing Director of our Company. He has been a Director of our Company since its inception in December, 2002. He holds a bachelor’s degree in commerce from University of Calcutta. He is also the Vice Chairman and Managing Director of our Subsidiary, SSPL, and has been a director of SSPL since its inception. He has over three decades of experience in the steel and ferro alloys industry. He is primarily responsible for strategic planning, future expansion, business development, marketing, human resources and corporate affairs of our Company.

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Sanjay Kumar Agarwal

Joint Managing Director

Sanjay Kumar Agarwal is the Joint Managing Director of our Company. He has been a Director of our Company since its inception in December, 2002. He holds a bachelor’s degree in commerce, with honours from the University of Calcutta. He has over 17 years of experience in the steel and ferro alloys industry. He is primarily responsible for the operations of our manufacturing plants at Sambalpur, Jamuria and Mangalpur, with focus on cost control, production efficiency and competitive procurement of raw materials.

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Deepak Kumar Agarwal

Whole-time Director

Whole-Time Director of our Company. He has been a Director of our Company since July 14, 2014. He holds a bachelor’s degree in commerce, with honours, from University of Calcutta. He is also an associate member of the Institute of Company Secretaries of India. He has previously been associated with Shyam SEL and Power Limited and has over a decade of experience in the steel and ferro alloys industry. He is responsible for handling the finance, risk management and corporate affairs of our Company and its Subsidiaries.

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Dev Kumar Tiwari

Director - Operations

Dev Kumar Tiwari is a whole-time Director of our Company. He has been a Director of our Company since April 10, 2009. He holds a bachelor’s degree in arts (honours) from Bihar University, Muzaffarpur. Prior to his appointment as Director, he was deputy general manager (mechanical) in our Subsidiary, SSPL for 7 years. He has over 23 years of experience in the steel and ferro alloys industry. He is responsible for project implementation and operations of our Sambalpur manufacturing plant.

Bhagwan Shaw

Whole-time Director

Bhagwan Shaw is a Whole-Time Director of our Company. He has been a Director of our Company since March 7, 2013. He has passed the secondary examination conducted by West Bengal Board of Secondary Education. Prior to his appointment as Director, he was manager (store) in our Company. He has 12 years of experience in the steel and ferro alloys industry. He is responsible for management and inventory control of stores and spares at our Sambalpur manufacturing plant.

Our Story

    1991

    New Beginnings

     

    Incorporation of Shyam SEL and Power Ltd. (SSPL).

    2002

    Growth

     

    In 2002, we started commercial production of sponge iron plant(1) with capacity of 60,000 TPA at our Mangalpur manufacturing plant.

     

    (1)This plant is of Shyam SEL and Power Limited.

    2013

    Growth

     

    Sambalpur manufacturing plant

     

    Backward integration by starting commercial production of iron pellets plant with capacity of 300,000 TPA

     

    Jamuria manufacturing plant

     

    Backward integration by starting commercial production of iron pellets plant with capacity of 480,000 TPA

    Expanded capacity of sponge iron plant(1) by 36,000 TPA

    Forward integration by starting the commercial production of billets(2) with capacity of 79,200 TPA

    2014

    Growth

     

    Sambalpur manufacturing plant

     

    Expanded capacity of ferro alloy products(3) by 33 MVA equivalent to 51,333 TPA with aggregate capacity of 98,000 TPA

    Expanded capacity of sponge iron plant(1) by 33,000 TPA

     

    Jamuria manufacturing plant

     

    Established captive railway siding

    2015

    Growth

     

    Sambalpur manufacturing plant

     

    Operationalizing of captive railway siding

     

    Jamuria manufacturing plant

     

    Commissioning of another captive power plant of 43 MW taking aggregate capacity to 64 MW

    Expanded capacity of sponge iron plant(1) by 194,400 TPA with aggregate capacity of 325,800 TPA

    Expanded capacity of billets(2) by 50,400 TPA

    Expanded capacity of ferro alloy products(3) by 9 MVA equivalent

    2016

    Growth

     

    Sambalpur manufacturing plant

     

    Expanded capacity of billets(2) by 84,480 TPA with aggregate capacity of 274,560 TPA

     

    Jamuria manufacturing plant

     

    Expanded capacity of iron pellets plant by 120,000 TPA with aggregate capacity of 600,000 TPA

    Expanded capacity of billets(2) plant by 72,000 TPA with aggregate capacity of 201,600 TPA

    2017

    Growth

     

    Sambalpur manufacturing plant

     

    Expanded capacity of sponge iron plant(1) by 330,000 TPA with aggregate capacity of 627,000 TPA

    Expanded capacity of billets(2) by 63,360 TPA with aggregate capacity of 337,920 TPA

    Combined annual capacity of all plants, including all intermediate products, reached ~2.90 MTPA

    2019

    Growth

     

    Sambalpur manufacturing plant

     

    Expanded capacity of sponge iron by 165,000 TPA with aggregate capacity of 792,000 TPA

    Expanded capacity of billets by 63,360 TPA with aggregate capacity of 401,280 TPA

    Expanded capacity of TMT by 60,000 TPA with aggregate capacity of 210,000 TPA

    Expanded capacity of wire rod by 200,000 TPA with aggregate capacity of 410,000 TPA

     

    Jamuria manufacturing plant

     

    Expanded capacity of sponge iron by 99,000 TPA with aggregate capacity of 422,400 TPA

    Expanded capacity of billets by 168,960 TPA with aggregate capacity of 396,000 TPA

    Expanded capacity of long products (tmt and wire rod) by 106,992 TPA with aggregate capacity of 210,000 TPA

    Expanded capacity of captive power plant by 30 MW with aggregate capacity of 94 MW

    Expanded capacity of ferro alloy products by 9 MVA equivalent to 14,000 TPA with aggregate capacity of 70,400 TPA

    2020

    Growth

     

    Sambalpur manufacturing plant

     

    Expanded capacity of pellet by 9,00,000 TPA with aggregate capacity of 12,00,000 TPA.

    Expanded capacity of captive power plant by 33 MW with aggregate capacity of 118 MW

     

    Jamuria manufacturing plant

     

    Expanded capacity of pellet by 6,00,000 TPA with aggregate capacity of 12,00,000 TPA

    Expanded capacity of sponge iron by 1,15,500 TPA with aggregate capacity of 5,37,900 TPA

    Expanded capacity of billets by 95,040 TPA with aggregate capacity of 4,91,040 TPA

     

    Expanded capacity of long products (TMT and wire rod) by 1,06,992 TPA with aggregate capacity of 4,10,000 TPA

     

    Combined annual capacity of all plants, including all intermediate products, reached ~5.71 MTPA

Note: • The assumptions and estimates taken specifically into account include the following: (1) sponge iron (direct reduced iron): capacity of each kiln in TPD X 330 days per year; (2) billet: capacity of each furnace in TPH X (24 hours per day/ heat cycle) X 330 days per year; 1 heat cycle = 3 hours; (3) ferro alloy products: furnace with 1 MVA capacity is equivalent to 1,555.56 TPA. The installed capacity of ferro alloy products may vary depending on the type of ferro alloy produced.

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