Gallantt Group of Industries Gallantt Group of Industries
Gallantt Group of Industries
Gallantt Group of Industries
Gallantt Group of Industries
Gallantt Group of Industries
Gallantt Group of Industries
Gallantt Group of Industries
Gallantt Group of Industries Gallantt Group of Industries Gallantt Group of Industries Gallantt Group of Industries Gallantt Group of Industries
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Gallant
Gallant
Gallant
Gallant
Gallantt Group of Industries
  Financial Results Shareholding Pattern
  Annual Reports Investor Grievance Redressal
  Code of Conduct Corporate Governance Report
   Unclaimed Amount Of Investors Due For Refund  Notice Of Board Meetings
  Scheme of Amalgamation of GUL with GIL Notice Of General Meetings
  Draft Articles of association    


 Gallantt Ispat Limited-Profile


Gallantt Ispat Limited (GIL) has become a well established public limited company, listed on both the premier stock exchanges of India viz. Bombay Stock Exchange Limited and National Stock Exchange of India Limited. GIL is one of the companies of “Gallantt Group” which was incorporated in 2005 at Kolkata, with an object to carry on the business of manufacturers, producers etc. in all kinds of iron and steel products such as sponge iron, pig iron, cast iron, bars, rods, billets, Captive power plant etc. However with passing of time, promoters of the Company started exploring new areas of operation and are being entered into new ventures. Amalgamation of Gallantt Udyog Limited (GUL) with GIL is a step towards moving forward and exploring new areas of operation. On amalgamation, Company would enter into Real Estate business.

It is one of the fast and aggressively growing organizations, which has captured a substantial market of Sponge Iron, M.S., Billets, TMT Bars and wheat flour products in the state of Uttar Pradesh within a short span of time. The group has about three decades of experience in steel and food processing industries and is well known by its brand name “Gallantt” which is ISO 9001:2008 & ISI certified. We are currently catering to various reputed clients such as Shalimar Corp Ltd., Viraj Construction Pvt. Ltd., Parasnath Developers, Omega Developers & Builders, BBD University, Uttar Pradesh Rajkiya Nirman Nigam  and other State Government Departments.

The in house consumption of entire Sponge Iron to manufacture billets which is further rolled into TMT bars along with installation of captive power plant to utilize the waste heat improves profitability of the company thereby making it economically more viable. At GIL, success is measured in terms of customer satisfaction and quality that is built into every product. The value of commitment to quality is also cherished by each of our staff members. This growth has been achieved by a maintained strategy of continual investment in our manufacturing facilities and technology.  As a testimony to this “Gallantt” has become one the major secondary steel producers in India.

Installation of private railway siding  for easy movement of raw material and finished goods has incurred  lower logistics costs  and proved  enormous advantages to the Company and kept other similar business houses in the region very far and out of competition.
 
Company sells substantial part of its production in U.P.. Acknowledging the region’s enormous potential for steel consumption, we have planned to expand the present installed capacity in a phased manner.  Such a step would require a huge investment within a short span of two years, for which Company is well equipped with. At Gallantt Ispat, we have evolved an agile business model, which can respond to the rapidly evolving market realities with speed and has helped us to consistently achieve volume guidance over the years. During past few years, despite sluggish demand, our model of marketing achieved higher sales target.

The State government declared our unit eligible under the scheme of Heavy Industrial Investment promotion policy of the Govt. OF u.p. AND DISBURSED AN AMOUNT OF Rs.24.28 crores as a part disbursement of the subsidies available under the scheme.

 GIL  is one of the growing companies in Uttar Pradesh.  It is engaged in the manufacturing and marketing of Sponge Iron, M.S.l Billets, Re-Rolled products (TMT bars and  Structurals) and wheat flour products.

The Company was incorporated in February 2005 at Kolkata and is promoted by Mr. Chandra Prakash Agrawal, Mr. Prem Prakash Agarwal, and Mr. Nitin M Kandoi.

 We have set up an integrated steel plant and modern roller flour mill at Sector- 23, GIDA, Sahjanwa, Gorakhpur- Uttar Pradesh, to manufacture Sponge Iron, Mild steel billets, Re-Rolled products (TMT bars), flour. Considering the power requirements of our existing manufacturing facilities, our Company we have also set up a captive power plant of 18 MW to meet its requirement of power. Our Company has already commenced commercial production of all the units. 

The in house consumption of entire Sponge Iron to manufacture billets which is further rolled into TMT bars along with installation of captive power plant to utilize the waste heat would improve the profitability of the project thereby making it economically more viable.

At GIL, success is measured in terms of customer satisfaction and quality that is built into every product. The value of commitment to quality is also cherished by each of our staff members.

Governments incentive to the unit:

Setting up the integrated steel plant and flour mill in Gorakhpur, Uttar Pradesh also provides our Company with benefits like Interest free loan equivalent to Sales Tax Amount for a period of 15 years. Besides this, the unit is also eligible for 20% capital subsidy, 10% Infrastructural subsidy, 5% additional subsidy. Further, 65% of capital investment is available in the form of transport subsidy for a total period of 15 years to be reimbursed against the payment of freight of raw materials i.e. Iron Ore. Thus, the total subsidy available to our unit is 100%, equivalent to the total amount invested in the fixed capital of the unit.

Status of Grant

The State Government has disbursed part payment of Rs.24.28 crores of the subsidy on the investment made till May, 31, 2009 to the company as we were declared eligible for the subsidy and other benefits.  We have further submitted our Capital subsidy claim of Rs.98.34 crores adjusting Rs.24.28 crores already received, on the investment made up to May 31, 2012  and a claim of Rs. 95.54 crores as freight subsidy due up to June 2014 making a total of Rs. 193.88 crores as on August, 2014 which is pending for disbursement before the nodal agency (PICUP) of the scheme; but the State Government vide its order dated 18.11.2011 refused the balance payment of subsidies.  As this order of the U.P. Government was unjustified and unconstitutional, we have filed writ petition No.2067 of 2012 before the Hon'ble High Court Lucknow Bench, Allahabad.

Hon'ble High Court, Allahabad vide its order and judgment dated 12.,08.2013 on the above case, directed the State Government to take a fresh decision in the matter expeditiously and not to make any recovery of the unpaid VAT amount.  Decision of the State Government is awaited.

Capacity enhancement in Existing Steel Unit:

The group has planned to increase the capacity of the existing Steel unit at Gorakhpur as under. This increase capacity will be operational by April 2016.
  

Capacity in MTPA

Products

Existing Capacity

Proposed

TOTAL

Sponge Iron

99000

138600

237600

Steel Melt Shop

118800

118800

237600

Rolling Mill

118800

118800

237600

Captive Power Plant

16 MW

25 MW

41 MW

EXCELLENT TRACK RECORD OF LOAN REPAYMENT

An amount of Rs.156 crores was sanctioned and disbursed to Gallantt Ispat Limited, Gorakhpur,  by State Bank of India and other consortium member banks which was due to be repaid by March 2016; but company has repaid Rs.145 crores till August 2014 well in advance, leaving just Rs.11 crores  to be paid to State Bank of India which is planned to be paid before December, 2014.  Thus making the company debt free except the working capital loan.

 

 

Gallantt Group of Industries



OUR PRODUCTS
Sponge Iron | M. S. Billets | Rolling Mill| Wheat Products