Kalyani Steels announced that the Board of Directors of the Company at its meeting held on 28 April 2023, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Net profit of Kalyani Steels rose 1.90% to Rs 69.70 crore in the quarter ended March 2023 as against Rs 68.40 crore during the previous quarter ended March 2022. Sales rose 2.40% to Rs 459.58 crore in the quarter ended March 2023 as against Rs 448.80 crore during the previous quarter ended March 2022.

For the full year,net profit declined 31.24% to Rs 167.03 crore in the year ended March 2023 as against Rs 242.92 crore during the previous year ended March 2022. Sales rose 11.33% to Rs 1899.35 crore in the year ended March 2023 as against Rs 1706.03 crore during the previous year ended March 2022.

Powered by Capital Market - Live News

Kalyani Steels will hold a meeting of the Board of Directors of the Company on 28 April 2023.

Powered by Capital Market - Live News

The company has commissioned the coke oven plant with all its auxiliaries and utility systems and started its commercial production from 31 March 2023. The production has already attained the designed capacity and the product quality is best in the industry.

The company had planned to set up a 200,000 tonnes per annum (TPA ) non-recovery / heat recovery, stamp charged coke oven with modified wet quenching of hot coke and 17-18 megawatt (MW) captive power plant to be operated utilizing waste heat energy of flue gas generated from coke oven.

The electrical power so produced shall be used for captive consumption and the surplus, if any, will be sold to external agencies.

As per broad specifications coke oven will have an annual capacity (dry coke) of 0.2 metric tonne(MT), with 72 ovens (divided in 2 batteries of 36 ovens each). Further, heat recovery captive power plant will have power generation capacity of 17-18 megawatt (MW) with generation voltage of 11 kilovolt (KV).

The power plant with the turbine - generator with all the balance of plant (BOPs) with one of the two boilers has also been commissioned, while the second boiler to be added to the steam circuit is going to be commissioned shortly.

Kalyani Steels is primarily engaged in the business of manufacture and sale of iron and steel products. The company is an integrated manufacturer of diverse range of steel products with its manufacturing facility located at Hospet works in Karnataka.

The company's net profit declined 8.6% to Rs 39.08 crore despite of 9.8% jump in net sales to Rs 446.53 crore in Q3 FY23 over Q3 FY22.

Powered by Capital Market - Live News