Winners - Sunflag Iron and Steel

31 Oct 2016 Editorial Team

Sunflag Iron and Steel is a prestigious unit of the Sun Flag Group. The plant is located at Bhandara in Maharashtra. The company has a capacity of 360,000 tonne per annum of high quality special steel, using liquid pig iron and sponge iron as basic inputs. Sunflag started off as a spring steel producer, and it today, produces a variety of steel such as carbon steel, alloy steel, free and semi-free cutting steel, micro-alloyed steel, stainless steel, spring steel, valve steel, bearing steel, cold heading quality steel, tool steel, etc. The company produces majority of the steel for automobile use in engine, drives, transmissions and suspensions, etc. It also supplies steel to the Indian Railways, ordinance factories, general engineering and power sectors. The company has collaborated with Daido Steel (Japan) in 2010 and the association is useful for process and quality enhancements, new grade developments and localisation of Indian steel by automobile companies, etc.

Apart from catering to domestic steel requirements, the company exports to various markets across the globe. Its revenue from the steel segment decreased 5.4 per cent to Rs 1,661.28 crore during FY2016, as compared to FY2015. However, its net profit reported a robust growth of 135 per cent to Rs 57.3 crore in FY2016, compared to Rs 24.41 crore in FY2015.

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