Vikas Metal Power Ltd

About the Company :

Vikas Metal & Power Ltd incorporated in July, 1996 is the flagship company of the Impex group of Kolkata belonging to Patni family of Kolkata with Shri Vimal Kumar Patni being the main promoter. The group is engaged in trading of iron and steel products and manufacturing of silico manganese, pig iron, billets, sponge iron etc. VMPL has successfully commissioned integrated steel plant at Poradiha, Purulia, West Bengal (WB), for manufacturing of sponge iron (1,30,000 tpa), billets/ms ingots (85,500 tpa), TMT bars/rods (1,50,000 tpa), ferromanganese (15,400 tpa) and captive power plant (10 MW).

VMPL commenced operation in phases and the entire project got completed recently. It earned PBILDT of Rs.30.0 crore (Rs.18.6 crore in FY07) and PAT (after deferred tax) of Rs.12.6 crore (Rs.7.6 crore in FY07) on net sales of Rs.331.7 crore (Rs.169.5 crore in FY07) in FY08. Net sales increase in FY08 was mainly due to increase in trading sales. Manufacturing sales also increased due to gradual commissioning of the project. Profitability margin of the company have generally been low due to higher raw material price, significant level of low margin trading sales and the company being in initial stage of manufacturing operation.