What are the factors that are driving the growth of the steel and TMT bar industry?
Steel and TMT Bars have been an essential raw material for infrastructure development, from building skyscrapers and bridges to manufacturing automobiles and appliances, steel has been a critical component. The Indian Steel industry has been growing rapidly in recent years, with the government’s focus on infrastructure development and ‘Make in India’ initiative. The industry is expected to continue to grow in the coming years, driven by increased demand for steel in various sectors such as construction, automobiles, and consumer goods. The government’s plan to invest in infrastructure development, including the construction of new highways, ports, and airports, will also drive the growth of the industry.
How does India’s steel industry growth story augurs for the company?
The steel industry has been an essential component of industrialisation and economic development since the 19th century. The steel industry in India started in the early 1900s, but it wasn't until after independence in 1947 that the industry began to take off. Shyam Steel started its inception in 1953 with a small factory in Howrah, West Bengal. It has been operating for seven decades and is now an INR 50 billion group. By employing world class technology and delivering quality material through robust research and innovation, Shyam Steel has emerged as a leading multi-product steel organisation. Today, the Indian steel industry is a major player in the global steel market, and it is expected to continue to grow in the years to come.
What are the future plans and business projections for the company?
Shyam Steel aims to demonstrate itself as a leader in the Pan India market. The group will be targeting systematic retail expansion in the North India markets and is confident of developing a loyal customer base in the region. Shyam Steel will also be expanding its operation in Andhra Pradesh and Telangana markets. Shyam Steel has also associated with several celebrities at the local level and believes that these associations will help influence purchase decisions and build a recognizable brand image in the target market. The company is undertaking a major plan to expand its retail operations across North India and plans to generate business of around INR 1000 crore through its North India operations in the next two to three years. The company plans to undertake investments of around INR 2500 crore in brownfield and greenfield projects to expand its capacity to 1 million tonnes a year.
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