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Sumangala Steel plans to expand to achieve Rs 15 billion revenue
Sumangala Steel, headquartered in Chennai, is embarking on a multi-pronged expansion strategy, including a 50 crore investment in new units, in preparation for future growth. Starting with a modest capacity of 12,000 tonnes per annum in 1987, the company, a manufacturer of billets and TMT bars, now has a capacity of more than 200,000 tonne. The company had developed the capacity and capabilities to capitalise on the emerging steel demand, which was driven by infrastructure development and the housing sector. It expects its current capacity of 200,000 tonne at its Puducherry factory to meet the demand for the next two years. Currently, capacity utilisation is between 70 and 75 per cent.
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