Uttam Value Steels Ltd Stock Analysis

Lloyds Steel Industries was incorporated on April 27, 1970 under the name of Gupta Tubes and Pipes. The company is engaged in designing and fabrication of various chemical, pharmaceutical and other machinery and structural such as air/gas/liquid structural, distillation columns, heat exchangers, LPG bullets, pressure vessels, reactors, tanks and road tankers and manufacture of steel pipes and tubes and steel castings.

Products manufactured by company

• Hot Rolled Coils/Plates/Sheets
• Steel
• Galvanised Plain/Corrugated Sheets & Coils
• Fabrication of Chemical, Pharmaceuticals & Others
• C R Coils/Sheets

Milestones

• 1970 - The company was incorporated as a private limited company on April 27 under the name of Gupta Tubes and Pipes.
• 1977 - The company entered into the field of design and fabrication of shell and tube heat exchangers.
• 1978 - A separate Air Drying Plant (ADP) division to cater to users of air and gas drying systems was started in August. The company also set up a full-fledged design department during the year.
• 1982 - In April a full-fledged project division was established.
• 1985 - The name of the company was changed to Lloyds Steel Industries on September 10th. The company's status was changed to that of public limited company with effect from 3rd June, 1986. The company set up its first work shop at Andheri, a suburb of Mumbai.
• 1986 - The company undertook modernization of its existing workshops at Andheri and Murbad.
• 1988 - A new unit was set up at Murbad as a part of expansion of the existing activities and the company entered into technical tie-ups with 8 internationally renowned companies in the engineering sector.
• 1989 - All the 3 units viz., Andheri, Murbad I and II as also 5 major project sites were equipped with integrated fabrication facilities including heat treatment, metal forming stress relieving automatic plate bending, etc. A network of committed ancillary units for various machinery and allied jobs were developed. - Technical arrangements were made with Mannesmann Demag Huttentechnik Metallgeuinnung (MDH), a division of Mannesmann Demag AG, West Germany for manufacture, procurement, supply and demonstration of performance guarantees of imported equipment and for deputation of MDH personnel to supervise erection and commissioning of plant and to train the company's personnel. The agreement provides for a payment of DM 42,140,000 in five instalments to MDH.
• 1990 - The company incurred capital expenditure of Rs 555 lakhs on further expansion and modernization of units at Andheri and Murbad and at four project sites.
• 1992 - The company proposed to set up a plant to manufacture 2.25 lakh tonnes of cold rolled coils and one lakh tonnes of galvanised plain/corrugated (GP/GC) sheets.
• 1995 - The company launched galvanized sheets/coils which were well received in the market. To boost exports, the company undertook to promote an overseas body at U.K.
• 1996 - The company entered into technical collaboration agreements with: (i) With Vosper Thornycroft (U.K.), England for the manufacture of steering gears and non-retractable in stabilizers for the Indian Navy for their war ships. (ii) With FMC Europe SA, France for the manufacture of marine loading arms; and (iii) With Bailieboro Co-op. Engineering, Ireland for the manufacture of dairy equipment.
• 1998 - Lloyds Steel’s merger with its subsidiary. Lloyds Steel Industries has entered into an agreement with Western Coalfields (WCL) for opening an underground mine exclusively for the use of Lloyds Steel.
• 1999 - Power Engineering Corporation, an Irish company, will pick up a 24 per cent stake in the coal-based, captive power company being set up by Lloyds Steel Industries (LSIL) called Vidarbha Power