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SLR Metaliks infuses around Rs 70 cr to boost manufacturing capacity

Wednesday, 19 Aug 2020
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SLR Metaliks has made an investment of around Rs 60 to 70 crore during COVID-19 lockdown to raise its manufacturing capacity by over 33 percent to four lakh tonne. 
 
The capacity enhancement will result in an increase in revenue by 25 percent by FY22. 
 
The company has expanded its manufacturing capacity from three lakh tonne to four lakh tonne annually during COVID-19 lockdown. The company has strategically used the lockdown period to enhance the furnace capacity in a planned way through micro-planning. 
 
The results of this capacity enhancement will start reflecting in FY2022, where sales will witness an increase of about 25 percent. The company is expecting a steady recovery in demand from the automobile sector by September 2020.
 
Along with this, the company has also put in place scrap preheating system which is installed in the energy-optimised furnace to enhance overall furnace efficiency and also carried out refurbishment of the caster. 
 
With increased demands for coils, modifications are being carried out in consultation with the OEM players. Having this in place, the company’s mill capacity can be enhanced to a level of 40 tonne per hour. 
 
With the added capacity, the company is also in talks with the Defence Research and Development Organisation to supply them for defence needs. 
 
The company, which entered into a joint venture with Fomento Group in 2012, supplies alloy steel to over 40 OEMs. 
 
At present, 80 percent of the company's production goes to the automobile sector and the rest is supplied to industries related to agriculture, engineering and tube mill companies.
 
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