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Uttam Galva: A brief overview...

Apr 4, 2007

Uttam Galva Steel was incorporated in 1985 and is one of the largest manufacturers of cold rolled (CR) and galvanized (GP) steel in Western India. The company is into the business of procuring hot rolled steel (HR) and processing it into CR and further into GP and Colour Coated Coils.

Tisco: The cycle is turning

Apr 3, 2002

It was one of the challenging years for the Indian steel companies with price realizations witnessing a sharp drop and increasing demand supply gap. Tisco, however managed to report volume growth in sales for the first nine months of the current fiscal.

Tisco: Melting demand

Jan 24, 2002

The impact of slowdown in the Indian and global economy is clearly reflected in Tisco's third quarter performance. Excess capacity and mounting inventory levels have depressed steel prices which had a significant impact on steel majors financial performance. Tisco has reported a 73% fall in net profits in 3QFY02 and a more than 70% fall in profits for the third consecutive quarter. Revenues too have remained flat in the December quarter.

SAIL: Stays in red

Nov 9, 2001

Steel Authority of India Ltd (SAIL) reported a bleak second quarter performance on the back of a sharp fall in operating margins and decline in turnover.

Tisco: Burgeoning cost

Oct 31, 2001

A steep decline in steel prices, excess capacity in the world markets and mounting inventory levels are some of the factors, which are depressing the Indian steel industry. Hot roll (HR) steel prices have come down to US$ 250 per tonne from an all time high of US$ 460 per tonne in May 1995.

Tisco: Bottomline under pressure

Oct 12, 2001

Tisco declared 80% drop in its first quarter profits with a dip in operating margins. Slowdown in the industrial growth and falling steel demand is expected to further deteriorate its bottomline growth in the coming quarters.

US blocks Indian steel

Sep 28, 2001

Imposition of antidumping duties by US on Indian steel manufacturers has taken a toll on the future prospects of the steel industry. This move is likely to result in closure of the US markets for Indian steel manufacturers for the next five years (stipulated period for which new levies will apply).

Tisco: Growth plans

Sep 10, 2001

The steel demand in India is slowing down. Flat products demand is affected by a deceleration in the consumer durable and the auto sectors. On the other hand, long products demand growth is showing some strength on the back of a pick up in construction activity.

Steel: Grim scenario continues

Aug 31, 2001

The downturn in the industrial activity has hit the steel sector. During the quarter ended June ’01, finished steel production declined by 0.4% compared to an impressive growth of 14.6% in the same quarter of the previous year.

SAIL: Losses mount

Aug 2, 2001

Another steel company, SAIL has reported grim June quarter earnings. The company's net sales declined by 9% and operating margins dropped by huge 600 basis points due to poor realisations.

Steel: Situation might get worse

Jul 6, 2001

The Indian steel industry is feeling the heat of a global slowdown. The consumption of steel in the first quarter of FY01 remained flat at 6 m tonnes. The sliding demand was mainly due to decline in production of white goods (refrigerators and air-conditioners), electric generators, commercial vehicles and cars.

Steel: Sailing in rough water

Jun 18, 2001

With a downturn in the global economy, the steel industry is facing tough times. Global steel consumption, which grew by 5.8% in FY01, is expected to grow 2.3% in the current year. As a result of the demand supply gap in the industry steel prices are on a downhill journey.

Tisco on the move

Jun 4, 2001

Tisco, the lowest cost steel producer (US$150 per tonne) in the world, has reported outstanding growth in profits for the year ended March ’01. The company’s richer product mix, marginally improved realization, continued cost control and slightly higher volumes have contributed in fueling the bottomline growth.

Tisco beats expectations

Jun 1, 2001

Tisco has reported an encouraging performance for the year ended March 01. The company's earnings excluding adjustments on account of VRS, soared by 89%, higher than market expectations.

Will the going get tough?

Oct 21, 2000

The Indian steel sector has been on a high in recent months. Demand and prices have been surging, in both domestic and global markets. This has resulted in a significant improvement in the financial health of the sector.

Efficiency and productivity are the way forward

Oct 21, 2000

The old economy has all but been written off by investors. Valuations have been torpedoed by those who are increasingly looking for growth, whether it be backed by profitability or not. In all this talk about high tech stocks and investment opportunities, some old economy companies have been consistently outperforming the most optimistic of expectations. Undoubtedly, leading this pack is Tata Iron and Steel Company Limited (Tata Steel), India's largest private sector integrated steel producer.

Tata Steel - Headed in the right direction

May 19, 2000

Tata Steel, one of the representatives of India's venture into heavy industries earlier this century, is attempting to make an entry in the record books. It is aiming to become the lowest cost producer of steel in the world. And it may be already within striking distance.

Jindal Vijaynagar to securitises its way through trouble

Mar 6, 2000

According to newspaper reports, Jindal Vijaynagar Steel Limited (JVSL) is contemplating a move to securitise Rs 2 bn worth of receivables from sale of hot rolled coils (HRCs). The deal has been structured by ICICI.

JVSL's project costs jump by Rs 9 bn

Nov 19, 1999

Jindal Vijaynagar (JVSL) has incurred a cost escalation of Rs 9.3 bn on account of a jump in interest expenditure during the construction period. Furthermore, the depreciation of the Indian Rupee also contributed to the escalation in costs. This has been reported by a leading national daily.

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