Ashirwad Steels & Industries Ltd

Ashirwad Steels & Industries Ltd

Ashirwad Steels & Industries Limited is an India-based company. The Companys principal product is sponge iron which is manufactured at its plants located at Jamshedpur and at District Nalgonda Andhra Pradesh. The Company operates in two segments: sponge iron and gas. The Companys products include sponge iron and hydrocarbon gas/liquefied petroleum (LP) gas. The Companys LPG bottling plants are located at Howrah West Bengal and Kisnapur in Chhattisgarh. Ashirwad Steels and Industries was incorporated in 1986 and its headquarter is situated at Kolkata. During the fiscal year ended March 31 2010 (fiscal 2010) the Company produced 33141metric tons of sponge iron. As of March 31 2010 the Company had installed capacity to produce 96000 metric tons of sponge iron.M/s Chandil Industries Private Ltd ceased to be an associate / group company during the FY: 2015-16.During the current F.Y. 2018-19; the Board took necessary authorities powers and consent from the Shareholders/ Members to dispose off the Company's manufacturing units/undertakings being the Sponge Iron Plant located at Dist. Nalgonda Telengana LPG Bottling Plant located at Uluberia West Bengal and also LPG Bottling Plant located at Raigarh Chhattisgarh. Subsequently the Company sold off it's Sponge Iron Plant to M/s. MPL Steel Industries Pvt. Ltd. by way of slump sale on a going concern basis for a consideration value of Rs 18 Crores on 22 November 2018 a Business Transfer Agreement with the said Buyer Company and the said transaction was completed on 21 January 2019.