Business Daily from THE HINDU group of publications
Wednesday, Aug 23, 2006

Cross Currency

Group Sites

Corporate - New Projects
States - Andhra Pradesh
Mahalakshmi Profiles makes Rs 6-cr expansion plans

Our Bureau

Hyderabad , Aug. 22

The Hyderabad-based steel tube and pipe manufacturing company Mahalakshmi Profiles Pvt Ltd (MPL) has earmarked Rs 6 crore for its expansion plans during the financial year 2007-08.

The capital would be raised from banks and by the promoters within. The company, which achieved a turnover of Rs 75 crore during fiscal 2005-06, has targeted to achieve Rs 200 crore turnover by 2007-08, according to a press release.

To achieve this target MPL has firmed up an expansion plan, which includes setting up cold rolling mill, doubling the production capacity of the H.R. strip mill from 31,000 million tonnes (mt) per annum to 72,000 mt; upgrade the present strip mill to produce longer strips in coils and increase the product capacity of the pipe mill from 20,000 mt per annum to 40,000 mt.

Value-added products

MPL has also identified a new segment of cold rolled strips and pipes as further value added products, the demand for which was increasing from the automobile sector and to encourage its consumption the Union Finance Minister had reduced the excise duty from 24 per cent to 16 per cent, the release said.

Mahavir Steel Rolling Mill, the first steel rolling mill in the State, is a group company of MPL. The group has presence in all stages of steel manufacturing. One of MPL's group concern Sri Shiv Shakti Steeland Alloys is an integrated steel plant using iron ore as raw material for manufacturing of sponge iron.

MPL is a closely held company, with clients/users across major construction companies, mines, industrial sheds, tube mills & rolling shutters and so on. Its major markets are Andhra Pradesh, Tamil Nadu, Karnataka, Kerala and parts of Maharashtra, the release added.

More Stories on : New Projects | Steel | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Cabinet panel to decide on RNRL objections

CLB urges Bajaj brothers to aim for settlement
Kesar Enterprises in talks with FIIs for FCCB issue
ECBs in June top $ 1 b
Suryajyoti to raise $20 m
Avesthagen bags Red Herring award
Madras HC to hear Novartis plea on Glivec today
HLL to seek outplacement for food division employees
Mahalakshmi Profiles makes Rs 6-cr expansion plans
Coromandel Fert Tunisian venture
Ma Foi Academy in Shanghai
BHEL officers to boycott jubilee celebrations
Ventures with Mittal on, says ONGC
Elgi teams up with IOC for lube oil launch
Singareni Collieries, NTPC to form joint venture
U21 Global to tie up with IIM-B for online course
TERI, GTZ award for fighting AIDS
Endurance raises Rs 150 cr
Tayal group forays into real estate
Monsanto anxious over pricing of Bt cottonseed
ONGC increases gas production, supplies at Hazira
ONGC Rajahmundry profit at Rs 350 cr

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line