Prakash Industries is likely to record growth of around 30% in sales volumes and 40% in sales realization in Q3FY19 as compared to the same quarter last year. The demand of Steel in the country is robust and the production volume of the company has been increasing every month on account of modernization and enhancement initiatives undertaken by the company.
The company is meeting its enhanced working capital requirements and capital expenditure on projects entirely through internal accruals. The company is on schedule to complete its 6th Sponge Iron Kiln with 15MW Co-generation Power Plant in Q4FY19, which will further improve the operational efficiencies and reduce dependence on expensive market purchases.
Prakash Industries is an integrated steel and power company. Its products include coal mines, iron ore mines, sponge iron, power, steel melting shop and ferro alloys.
