Thursday, Mar 28 2024 | Time 17:36 Hrs(IST)
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Business Economy


Telangana: Radha Smelters to launch 550D LRF bars, eyes at Rs 1,500 cr turnover by 2022-23

Hyderabad, Dec 2 (UNI) Hyderabad-based Radha Smelters, a leading brand in South India in TMT bars on Thursday announced to launch a new product range 550D LRF (Ladle Refining Furnace) TMT (Thermo Mechanically Treated) Bars produced through LRF Route on December 6.
The new range bars are considered ideal for critical infrastructure projects and high-rise buildings and these bars are made using advanced LRF technology, producing the very first in South India, said company Chairman Sunil Saraf and Managing Director Suman Saraf in a press conference here.
There are many grades in steel bars but 550D is a superior grade steel bar with high ductility, they said it is a special grade bar that only a handful of companies in India are able to manufacture.
This grade is used for high rises and for bridges, dams, ports, flyovers, bridges, wind turbine foundations and other structures that require a high load bearing capacity, they said.

These bars are resistant to earthquakes due to their soft pearlier core and can bear seismic and dynamic loading, they said.

Currently 550D grade steel for infrastructure and high rise buildings projects is being primarily supplied by large steel producers like SAIL, Vizag Steel, JSPL, JSW and TATA, they informed.

This promising product range with future full of promises will be formally launched by Radha’s brand ambassador Mr. Daggubati Rana on December 6.

Explaining the process of the production, Sunil said, these bars are produced through the integrated Iron ore – Sponge iron - Induction furnace – LRF – Rolling mill route. The Ladle Refining Furnace route will be used in an induction based steel plant.

The Company’s manufacturing plant at ChinnaShankarampet, Medak district (Telangana) and target to achieve a sales of Rs 1,500 crores in 2022-23 against Rs 530 crore turnover in 2020-21, said Suman.

We are expected to achieve Rs 1000 crore turnover this year, he said currently , the installed capacity of the plant was 0.2million tonnes per annum and now increased to 0.4 million tonnes per annum.

The company has already invested Rs 75 crores in developing new technology to produce 550D range bars and to enhance the capacity to 1 million tonnes per annum by 2025, we are planning to invest Rs 100 crore, Suman added.

We will focus more on the existing plant rather than expanding to new locations, said company Director and CEO Snehil Saraf.

He has not ruled out expanding to neighbouring state Karnataka, but not in near future.

With the enhanced capacity to 0.4million tonnes per annum, the company is looking at 7 to 8 per cent market share in Telangana from current level of 3 to 4 per cent, he said.

In the last six months , we have seen the launch of nearly 40 to 50 sky-scrapper projects, all above 30 floors announced in Hyderabad, he said that all these projects need 550D LRF TMT Bars and we are the only manufacturer out of 125 in south India (in the category of Induction Furnace LRF Route).
Snehil announced that the company got approval by irrigation, CAD and all government departments. The company is also supplying steel to the new Telangana secretariat through Shapoorji Pallonji And Company Pvt Ltd, Mumbai, who bagged the contract work for the same.
Giving an overview of the steel industry, Snehil said India's installed steel capacity last year in FY 2021 was 130 million tonnes and produced 95 million tonnes in FY 21. The production of steel is expected to go upto 110 million tonnes in FY 22.
India is the second largest steel producer in the world while the steel consumption in Telangana state is 3 million tonnes per annum. India is still cheaper compared to players in the international market, he added.
Radha Smelters Director (sales and marketing) Akshat Saraf also present in the conference.
UNI KNR SHK1832
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