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The total investment towards the project which is expected to be operational in the first quarter of FY2025 is Rs 125 crore. The project will be fully financed out of internal accruals.The new kiln will enable the company to completely utilise the output of its pellet plant. It will also reduce wastage and enhance operational efficiencies. The pellet plant with a capacity of 7,92,000 MT commenced commercial operations in July 2023. It was set up to reduce any external dependence for pellets.Further, in an endeavour to enhance consumption of in-house produced pellets, the company proposes to install an additional furnace of 30 ton per heat capacity. This furnace is expected to improve production capability by 15%. The installation of this furnace will cost around Rs 25 crore and it is expected to be operational in the beginning of calendar 2024.These proposals are on the back of other operational initiatives taken by Gallantt Ispat earlier in the current financial year. In July 2023, pellet plant of the company having capacity of 7,92,000 MTPA with an investment of approximately Rs 300 crore, became operational and company has also completed the purchase of two railway rakes with an investment of Rs. 55 Crores. One railway rake has been handed over to the railway and the second is expected by January 2024.All these investments have been funded are being funded out of internal accruals,” the company said in a statement.Gallantt Ispat is engaged in the business of manufacturing of iron and steel products such as sponge iron, bars, rods, billets, and it also has a captive power plant.The companys consolidated net profit had increased by 25.18% to Rs 30.72 crore on a 1.48% rise in sales to Rs 1,036.17 crore in Q1 FY24 over Q1 FY23.

Gallantt Ispat soars after board OKs setting up new DRI klin with 1,65,000 MTPA capacity

Gallantt Ispat announced that the 19th Annual General Meeting (AGM) of the company will be held on 30 September 2023.

Gallantt Ispat schedules AGM

Gallantt Ispat will hold a meeting of the Board of Directors of the Company on 11 September 2023.

Gallantt Ispat to convene board meeting

The Board of Gallantt Ispat will hold a meeting on 11 September 2023 to approve addition in the capacities of direct reduced iron unit (DRI  sponge iron plant) and steel melt shop unit (SMS billets plant) of the company situated at Gorakhpur, Uttar Pradesh. 

Board of Gallantt Ispat to consider addition of capacity at Gorakhpur unit 

On July 10, the company had announced that it has entered into an agreement with East Coast Railway, Bhubaneshwar, Odisha to buy and own Railway Wagons to get rid of wagons shortfall with lndian Railways. Unavailability of rakes (a collection of wagons pulled by an engine) by lndian Railway is a major concern and pet peeve of the company. Rakes are provided by the lndian Railway on priority by payment of 15% premium on freight charges and even then, availability of railway rakes is very difficult. Availability of railway rakes is more difficult through placing normal indent nowadays and recent past. Hence, the company had decided to acquire two railway rakes under the General-Purpose Wagon lnvestment Scheme (GPWIS) of Railway Board.lndian Railways oller l0% rebate on railway freight rate for 15 years under the GPWI Scheme. As such, altogether company would be able to save 25% on the freight cost (10% rebate plus 15% on premium indent).Gallantt Ispat had stated that owning railway rakes would boost up loading of iron ore and coal (primary raw materials of the company) from origin (port, mining area etc.) to its manufacturing facilities.Owning two railway rakes would cost the company around Rs 55 crore but having own rakes would assure that raw materials are dispatched timely, hassle free and cost effectively.“If everything goes as per the expectation of the management, company would explore of owning more railway rakes in future to cater the need of raw materials of the company with faster movement,” Gallantt Ispat had said in a statement.Gallantt Ispat is engaged in the business of manufacturing of iron and steel products such as sponge iron, bars, rods, billets, and it also has a captive power plant.The companys consolidated net profit had increased by 25.18% to Rs 30.72 crore on a 1.48% rise in sales to Rs 1,036.17 crore in Q1 FY24 over Q1 FY23.

Gallantt Ispat edges higher after Indian Railways delivers first railway rake

The steel-maker had in July ordered for two rakes, worth Rs 55 crore, to tide over the shortfall of wagons at its disposal. The company will use them to transport iron ore

Gallantt Ispat tracks gains after receiving first of the 2 rail rakes

 Gallantt Ispat has renewed the contract of Bollywood actor Ajay Devgan to act as the brand ambassador of the Company to endorse Gallantt andGallantt Advance range of TMT Bars for a second consecutive term of two (2) years. The company shall continue to use Ajay Devgans name and brand in sales promotion, advertisement and digital marketing through print media, social media and visual media.

Gallantt Ispat renews contract with Ajay Devgan as brand ambassador 

Gallantt Ispat has entered into an agreement with East Coast Railway,Bhubaneshwar, Odisha to buy and own Railway Wagons to get rid of wagons shortfall with Indian Railways. Unavailability of rakes (a collection of wagons pulled by an engine) by Indian Railway is a major concern and pet peeve of the Company. Rakes are provided by the Indian Railway on priority by payment of 15% premium on freight charges and even then, availability of railway rakes is very difficult. Availability of railway rakes is more difficult through placing normal indent nowadays and recent past. Hence, Company is in the process of acquiring two railway rakes under the General-Purpose Wagon Investment Scheme (GPWIS) of Railway Board.Thus, Indian Railways offer 10% rebate on railway freight rate for 15 years under the GPWI Scheme. As such, altogether Company would be able to save 25% on the freight cost (10% rebate plus 15% on premium indent). Company has decided about owning railway rakes to boost up loading of Iron ore and coal (primary raw materials of the Company) from origin (port, mining area etc.) to its manufacturing facilities. Owning two railway rakes would cost the Company around Rs. 55 crore but having own rakes would assure that raw materials are dispatched timely, hassle free and cost effectively.First rake is expected to be delivered in the last week of July 2023 and Second one in the month of November 2023. If everything goes as per the expectation of the management, Company would explore of owning more railway rakes in future to cater the need of raw materials of the Company with faster movement.

Gallantt Ispat to acquire two railway rakes to boost dispatch of raw materials to its facilities 

The company is in the process of acquiring two railway rakes under the General-Purpose Wagon lnvestment Scheme (GPWIS) of Railway Board. lndian Railways offer 10% rebate on railway freight rate for 15 years under the GPWI Scheme. As such, altogether company would be able to save 25% on the freight cost (10% rebate plus 15% on premium indent).The company has decided about owning railway rakes to boost up loading of lron ore and coal (primary raw materials of the company) from origin (port, mining area etc.) to its manufacturing facilities. Owning two railway rakes would cost the company around Rs 55 crore but having own rakes would assure that raw materials are dispatched timely, hassle free and cost effectively.First rake is expected to be delivered in the last week of July 2023 and second one in the month of November 2023. lt everything goes as per the expectation of the management, company would explore of owning more railway rakes in future to cater the need of raw materials of the company with faster movement.Gallantt Ispat is engaged in the business of manufacturing of Steel and Power.The companys standalone net profit declined 23.6% to Rs 67.92 crore despite 24.7% jump in net sales to Rs 1,075.99 crore in Q4 FY23 over Q4 FY22.

Gallantt Ispat jumps on inking pact to buy Railway Wagons 

Gallantt Ispat Ltd. engages in the manufacture of steel and steel products. It operates through the following segments: Agro, Iron and Steel, Power, and Real Estate. The company was founded on February 7, 2005 and is headquartered in Gorakhpur, India.

Watchers	15
52-Wk Low	49.55
52-Wk High	105.00

Market Cap	22.1B
Volume (M)	90,466.00
52-Wk High	105.00
52-Wk Low	49.55

GALLANTT.NSE Gallantt Ispat Ltd.

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