Essar Steel Pune unit eyes Rs 3,000 Crore turnover

Essar Steel Pune unit eyes Rs 3,000 Crore turnover
01/07/2016 , by , in ALLIED

Essar Steel Pune Facility (ESPF) is eyeing a 43 per cent jump in turnover to Rs 3,000 crore in the ongoing fiscal. The unit is located at Sanaswadi, Maharashtra.

“We are looking at achieving a turnover of Rs 3,000 crore in FY17 compared with Rs 2,100 crore achieved in FY16. We expect our sales volume of PPGI (Pre-Painted Galvanised Iron) products to grow by 35 per cent to 6,25,000 tonnes per annum and turnover by 45 per cent in the current fiscal,” ESPF CEO R V Sridhar said in Pune.

ESPF offers innovative products like camouflage steel, wood finish, abrasion resistant systems and wrinkle finish products, which caters to customers from automobile, defense, home appliances, construction and industrial sector.

The company’s sales volume rose 71 per cent to cross 4,62,000 tonnes in FY16 compared with 2,70,000 tonnes in the previous fiscal. Total revenue was Rs 2,070 crore, a growth of 45 per cent as against a revenue of Rs 1,425 crore in FY15.

The growth of ESPF is in line with the rising capacity utilisation in Essar Steel India’s overall operations the company had a capacity utilisation of 70 per cent in the last quarter of FY16.

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