Ashirwad Steels & Industries Limited, headquartered in Kolkata, India, specializes in the production of sponge iron, with manufacturing facilities located in Jamshedpur, Jharkhand, and District Nalgonda, Andhra Pradesh. The company operates primarily in two segments: sponge iron and gas, offering products such as sponge iron and hydrocarbon gas/liquefied petroleum (LP) gas. Additionally, the company operates LPG bottling plants in Howrah, West Bengal, and Kisnapur, Chhattisgarh.
Established in 1986, Ashirwad Steels and Industries produced 33,141 metric tons of sponge iron during the fiscal year ended March 31, 2010, with an installed capacity of 96,000 metric tons as of the same date. Notably, M/s Chandil Industries Private Ltd ceased to be an associate/group company during the fiscal year 2015-16.
In the fiscal year 2018-19, the board obtained necessary authorities, powers, and consent from shareholders/members to divest the company's manufacturing units/undertakings, including the Sponge Iron Plant in District Nalgonda, Telangana, and LPG Bottling Plants in Uluberia, West Bengal, and Raigarh, Chhattisgarh. The Sponge Iron Plant was subsequently sold to M/s. MPL Steel Industries Pvt. Ltd. through a slump sale on a going concern basis, with the transaction completed on January 21, 2019, for a consideration value of Rs 18 Crores, as per the Business Transfer Agreement with the buyer company.
Established in 1986, Ashirwad Steels and Industries produced 33,141 metric tons of sponge iron during the fiscal year ended March 31, 2010, with an installed capacity of 96,000 metric tons as of the same date. Notably, M/s Chandil Industries Private Ltd ceased to be an associate/group company during the fiscal year 2015-16.
In the fiscal year 2018-19, the board obtained necessary authorities, powers, and consent from shareholders/members to divest the company's manufacturing units/undertakings, including the Sponge Iron Plant in District Nalgonda, Telangana, and LPG Bottling Plants in Uluberia, West Bengal, and Raigarh, Chhattisgarh. The Sponge Iron Plant was subsequently sold to M/s. MPL Steel Industries Pvt. Ltd. through a slump sale on a going concern basis, with the transaction completed on January 21, 2019, for a consideration value of Rs 18 Crores, as per the Business Transfer Agreement with the buyer company.
