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Our Bureau

New Delhi , July 16

JINDAL Stainless Ltd is all set to acquire a cold-rolling mill in a neighbouring country to supplement its existing capacity, according to a company release.

The company currently has hot-rolling capacity of seven lakh tonnes and cold-rolling capacity of 1.5 lakh tonnes. The company plans to create a captive export market for its hot-rolled product through this acquisition.

The company has reported a 31 per cent growth in its profit before tax for the first quarter of the current fiscal to Rs 71.32 crore. Profit after tax stands at Rs 50.12 crore. Production has increased by nine per cent to 1,30,441 tonnes and sales volumes have increased by five per cent to 1,09,612 tonnes. The company recorded a domestic sales of Rs 585 crore during the quarter showing a growth of 88 per cent. Net sales during the quarter went up to Rs 643 crore recording a growth of 19 per cent, the release said.

More Stories on : Mergers & Acquisitions | Steel

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