Maharashtra Elektrosmelt Ltd. (Amalgamated) (504824) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Maharashtra Elektrosmelt Ltd (MEL) is a subsidiary of Steel Authority of India Ltd, a government of India Enterprise and the largest Manganese based Ferro Alloy producer in the country.

Maharashtra Elektrosmelt Ltd is a government company U/s 617 of the Companies Act, 1956. Steel Authority of India Ltd (SAIL), a government company, holds 99.12% in shares of MEL and that is why MEL falls under the category of government company. The company is managed by the board of directors appointed by the holding company (SAIL). Being a government company, it is subjected to the control of Government of India through the mof steel.

The main functions of MEL are:

• Production and selling of High Carbon Ferro Manganese, Medium / low Carbon Ferro Manganese and Silico Manganese to the integrated steel plants of SAIL and others in private sector.
• To help SAIL plants in formulating policies with respect to procurement of ferro alloys, a major raw material, for their steel plants.
• To help SAIL in conducting R&D activities with respect to ferro alloys and developing new grades of ferro alloys
• To ensure uninterrupted supply of ferro alloys to SAIL plants

MEL has an installed capacity of 1,00,000 TPY equivalent Ferro Manganese. The product range of MEL includes High Carbon Ferro Manganese, Silico Manganese and Medium/Low Carbon Ferro Manganese. It is accredited with Quality Assurance Certificate ISO 9001:2000.

The plant is located at Chandrapur in Maharashtra. Executive Director appointed by the holding company stationed at Chandrapur is the CEO of the organization. He is assisted by the Head of Departments of Works, Finance, Personnel & Administration, Commercial, Marketing, Vigilance, Board & Company Affairs, Law, Internal Audit and Public Relations.

Other service departments of the company include Raw Material Yard, finished Product Handling Yard, Maintenance Departments, Environment Management Dept, Safety Engineering Dept, Commercial Dept, Personnel & Administration Dept, Finance & Accounts Dept etc.

MEL's major infrastructure facilities include two nos. of 33 MVA Submerged Electric Arc Furnaces for the production of ferro alloys, Manganese Ore Sintering Plants, Furnace gas based Power Plant and one small Electric Arc Furnace for the production of MC/LC Ferro Manganese with Lime Calcination and Manganese Ore Roasting Unit.

Over the years, MEL has emerged as a leader in ferroalloy technology with technological developments in many areas like raw material preparation, raw material substitution, furnace operation, ferroalloy casting and processing etc. Cost Reduction through utilization of wastes has been the area of prime concern at MEL. Utilisation of Ferro Manganese Slag in the production of Silico Manganese, Sintering of Manganese Ore Fines and its use in production process, Utilisation of furnace gas as fuel for power generation, lime calcinations and manganese ore roasting are some of the major areas of waste utilization.

MEL has taken up several schemes and projects in and around the villages of its plant. Some of them are donation of stationery items and bags to the school children, providing street light fittings, organizing medical check up camps for women and children, training the youth in the villages for getting self-employment and beautification of Chandrapur city etc. In addition, plans are made to provide a mobile Ambulance with medical staff and medicine and also constructing a market yard for small vendors in the villages in the vicinity of the plant for the benefit of the villagers.

Product range of the company includes:

• High Carbon Ferro Manganese
• Low Carbon Ferro Manganese
• Medium Carbon Ferro Manganese
• Silico Manganese

Awards/ Achievements

Total Quality Management is an integral part of the day to day activities of the company. The ISO 9001:2000 Quality Assurance System is being maintained since its accreditation, which covers all the sections of the plant.

The company has gained a prestigious position in the area of safety and environment. It has been awarded with various international and national awards from British Safety Council, London, National Safety Council USA, Govt. of India etc. MEL has also made great strides in establishing industrial safety consciousness in the industrial belt of Vidarbha.