Visa steel has already raised Rs400 crore, which it intends to invest during FY11 at a debt/equity ratio of 65:25. It is planning to set up a sinter and a pellet plant with a capacity of 1 million tonne during the current financial year.
The company has already acquired 350 acres of land for its proposed 1 million tonne steel unit in Chhattisgarh and plans to start the work by December 2010. It is nearing completion of its special steel plant a Kalinganangar in Orissa and is also close to financial closure of its joint venture with Baosteel
The company reported a Jan-Mar net profit of Rs165.1 million compared to a loss of Rs1.1 billion in the corresponding period last year. Its revenue during Q4FY10 increased by 37.5% to Rs399 crore from Rs290 crore during the corresponding quarter last year.
On yearly basis, the company registered a revenue growth of 12.59% to Rs 1,171.48 crore. EBIDTA grew by 635.15% to Rs 197.63 crore while net profit during FY10 stood at Rs 47.42 crore compared to a loss of Rs 66.81 crore during FY09.
Given the raw material prices remaining under control, the company is hopeful of maintaining its operating margins at 17% during FY11 and revenues to touch Rs18-20 billion. crackcrack| Company Name | CMP |
|---|---|
| Tata Steel | 206.55 |
| JSW Steel | 1204.00 |
| SAIL | 167.90 |
| Jindal Stainless | 765.15 |
| APL Apollo Tubes | 1978.50 |
| View more.. | |
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