ISMT has received approval for setting up of a solar plant for captive consumption with capacity of 70 MW DC. The installation of solar plant will be in phased manner with a total investment of upto Rs 305 crore. This reinstates the company's commitment towards clean energy, which will result in significant operational cost-savings for the Company and will also help improve its green energy footprint. The Board of Directors at its meeting held on November 4, 2022 which got adjourned to November 5, 2022, inter alia, approved the same.
ISMT is predominantly engaged in the manufacturing of specialty alloy and bearing Steel. The end user segments are largely Bearing, Automotive, Engineering and Forging Customers apart from some customers requiring steel for specialized application. The fortunes of the specialty and alloy steel products is closely linked to automotive and auto component industry.
