Super Iron Foundry Ltd - Stock Valuation and Financial Performance

Super Iron Foundry Limited was incorporated as Super Iron Foundry Private Limited at Kolkata, West Bengal, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated July 15, 1988, issued by the RoC. The company was converted from a private limited company to a public limited company pursuant to board resolution dated August 30, 2024 and special resolution passed by the Shareholders at the EGM dated August 31, 2024. Consequently, the name of the company was changed from ‘Super Iron Foundry Private Limited’ to ‘Super Iron Foundry Limited’ and a fresh certificate of incorporation consequent upon conversion to public company dated September 11, 2024 was issued by the Assistant Registrar of Companies/ Deputy Registrar of Companies/ Registrar of Companies, Central Processing Centre.

Super Iron Foundry manufactures municipal castings, ductile iron pipe fittings, ductile iron automotive castings, ductile iron agricultural castings (rollers and crosskills), railway castings and cast-iron counterweights. The municipal castings are used primarily in roadway construction and these products are used in major construction projects to provide access covers to cover the storm water, sewerage, telecom and other utility networks. The company is engaged in the business of iron and steel foundry; more particularly in the business of casting and manufacturing of access covers and gully grates used in roadway construction. The company’s products are used in major construction projects to provide access covers to cover the storm water, sewerage, telecom and other utility networks. The company manufactures and exports these covers globally, as its products are compliant with international standards like EN124. Applications of other product groups manufactured by the company are in automotive, agriculture equipment and applications where weight balancing and stability are crucial. Its production facility is equipped with modern robotic equipment, ensuring quality standards and control, and follows sustainable practices, making it the preferred choice for its customers from across the globe giving them a one stop shop solution for all their casting needs.

It mainly exports its products to European and Middle Eastern markets. In Europe, it sells through distributors, wherein the company does subcontract manufacturing for the distributors under their brand. The orders for the European business are fairly stable year on year basis, with exception during the period prior to snowfall in European countries, which generally lasts from July till September. Its Middle East business is driven through agents who work in mega projects on behalf of the company and it typically carries minimal stocks and supply to the projects directly. The company has successfully given design solutions and castings to various prestigious projects in Middle East like New Hamad Port Project (Qatar), New Turkish Air Base (Qatar), Airport expansion project in Oman, Dubai South developmental project, Lusail FIFA Stadium project, Al Barwah project in Doha to name a few. There is no seasonality in Middle East business except for the month of Ramadan, where construction activities take a dip.

Its manufacturing facility is ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified for quality management system, occupational health and safety management system and environmental management system to manufacture and supply ductile, grey iron casting, SGCI inserts applicable to municipal, sanitary, automotive, agriculture, waterworks, railways and electrical transmission and distribution. It also has Kitemark certificate issued by BSI, United Kingdom for gully tops and manhole tops for vehicular and pedestrian areas. It combines modern manufacturing technology and engineering expertise with cost efficient processes, to deliver quality products at competitive prices. Its manufacturing operations are strengthened by its technical capabilities, infrastructure, and process knowledge.

Business area of the company

The company is engaged in the business of iron and steel foundry, more particularly in the business of casting and manufacturing of access covers and gully grates used in roadway construction.

Products of the company

• Ductile Iron Pipe Fittings
• Case Differential Castings - Automotive
• Base Plate - Railways
• Railway insert
• Single gas tight square infill type access cover
• Double gas tight square infill type access covers
• Double gas tight square solid top type access covers
• Gas tight round infill type access cover
• Di trench grating
• Special spring assist ultra heavy-duty access grate and frame
• Ductile iron meter/hydrant box
• Circular cover & circular frame
• Semicircular cover & frame
• Square cover & frame
• Multipart recessed cover & frame
• Hinged gully grating
• Double triangular top entry gully grating
• Channel grating
• Side entry kerb gully
• Telecommunication covers and frames
• Surface box
• Tree grate
• Water tight manhole cover & frame
• City specific manhole cover & frame
• 3 pieces floating height adjustable manhole cover & frame
• Pyramid type catch basin
• 3 pieces valve boxes
• Cleanout box
• Screw type roadway box
• Galvanized mild steel wave grating
• Galvanized mild steel sump grating
• Agricultural castings - Rollers & Wheels
• Counterweights
• Helical screw piles

Awards and accreditations

• 2019: EEPC National Award for Export Excellence - Award for Special Contribution: Highest Growth in Exports during 2018-19 (Medium Enterprise).
• 2022: ASSOCHAM Leadership Conclave, 2022 & Excellence Awards - Exporter of the Year.
• 2024: EEPC India (Eastern Region) - Award for Export Excellence (Star Performer - Group 4: Sanitary & Industrial Castings). Category: Medium.

History and milestones

• 1988: Incorporation of the company.
• 2013: Setting up of new greenfield foundry in Burdwan, West Bengal.
• 2013: First export consignment to Europe.
• 2015: Capacity expansion by setting up of a new vertical automatic moulding line.
• 2015: Accorded the status of a One Star Export House by the Directorate General of Foreign Trade.
• 2021: Second capacity expansion from 24000 mt ton to 72000 mt ton p.a. supported by robotic machines.
• 2023: Accorded the status of a Two Star Export House by the Directorate General of Foreign Trade.
• 2024: Conversion from a private limited company to a public limited company.