The Maheshwary Group started as a trading firm for iron and steel in 1972, in Kolkata, under the name of Maheshwary Steel Supply Co.

With exponential growth in sales, we soon appointed dealers in major cities. The turning point came when we were awarded exclusive wholesale dealership rights for SAIL products in the Eastern region. This was followed by securing a name in the ‘Top 10 Customers List’ published in SAIL’s Eastern Region long products group report.

Soon after, the group went on to acquire the position of the top distributor in the Eastern Region. This was highlighted in the 2001-02 Annual Report of Eastern Region Long products group, published by SAIL.

Manufacturing

Our wealth of experience and success in trading combined with a keen foresight made us realize the potential in the Iron & Steel sector and so in 2002, we decided to make a foray into manufacturing. This led to the inception of our flagship manufacturing company Maheshwary Ispat Ltd. The company established a Sponge Iron plant – 60,000 TPA at Panagarh, West Bengal. An Induction Furnace and billet caster of 45,000 TPA of installed capacity was soon commissioned.

The company is also setting up an integrated steel plant along with in-house ancillary units and co-generation of power at Rampei, Khuntuni in Orissa for producing graded steel. At present, the Phase I of the plant is under construction. The DRI and billet production, with an installed capacity of 120,000 TPA and 130,000 TPA respectively, is already underway and commercial production of 165,000 tons of pig iron will commence by April 2007. A 24 MW power plant will be commissioned by June 2007.

In the pipeline

Steel

In order to cater to the demand for high-quality billets, an Electric Arc Furnace with a proposed capacity of 288,000 TPA is on the anvil in Orissa. The proposed plant will also produce 300,000 tones of value added steel annually in the form of medium and heavy Structurals.
We plan to add a 12 MW Captive Power Plant & a TMT and Wire Rod Rolling Mill to our plant in West Bengal also to take advantage of integration across the value chain. The steel products will be sold through our existing dealer network all over India.

Keeping in mind the increasing global demand for graded steel and stringent, international standard, quality control measures adopted by the Maheshwari Group, we plan to direct 50% of our production to the global market. The company wishes to be self-sufficient in the basic raw materials, iron-ore and coal, required for producing steel. Hence, we have signed an MOU with the Government of Orissa for an iron ore mining lease and applied to the concerned authority for a coal mining lease, which is under active consideration.

Power

The pre-requisite for rapid industrialization is ‘Power’. With growing market demand for power, Maheshwary Ispat Ltd has obtained a license for power trading. We have plans of setting up a 110 MW thermal power plant in Orissa, which, apart from providing an additional revenue stream, will also help us meet our in-house consumption needs.

The Road Ahead

"Continuous effort is the key to unlocking our potential" - this is what we, at Maheshwary Ispat, believe in.

The company has traversed the tough roads to success with its sheer determination, dedication and operational excellence. The secret to our success lies in the advantage of synergy of manufacturing and marketing expertise, strict quality control measures, unwavering commitment to our clients and last but not the least our talented and diligent workforce which has made the company what it is today.

We envision that our company will be a force to reckon with in the iron and steel industry 10 years from now. Our future strategy is to backward integrate to produce our raw material supplies and to further enrich our product mix. We also plan to build more power plants and thereby contribute to the energy sector in the country.