Uttam Galva Steels reports net loss of Rs 59 cr in Dec quarter

17 Feb 2022 CW Team

Uttam Galva Steels Limited announced on Tuesday that its consolidated net loss for the third quarter ended December 31, 2021, was Rs 59.64 crore.

In the previous quarter, Uttam Galva Steels reported a net profit of Rs 26.82 crore, according to a regulatory filing.

The company's total consolidated income increased to Rs 220.94 crore in the October-December period, up from Rs 189.45 crore in the previous fiscal's corresponding quarter.

The company's expenses for the quarter totalled Rs 280.58 crore, up from Rs 222.06 crore a year ago.

Uttam Galva Steels Ltd, which is being investigated by the NCLT, is one of the country's largest producers of cold-rolled steel and galvanised steel in the western region.

The Mumbai bench of the National Company Law Tribunal (NCLT) admitted the petition of State Bank of India (SBI) for initiating the Corporate Insolvency Resolution Process (CIRP) by order dated October 1, 2020, according to the filing.

Milind Kasodekar was appointed as the company's Interim Resolution Professional (IRP) on November 4, 2020, at a meeting of the Committee of Creditors (CoC). He took over control of the company's operations and management.

The CoC has also approved a resolution plan submitted by AM India Private Limited on June 2, 2021, according to the filing.

They informed that the plan was submitted to the adjudicating authority for approval on June 5, 2021.

Uttam Galva Steels Limited is one of Western India's largest producers of cold-rolled steel (CR) and galvanised steel (GP).

Image Source

Also read: Govt urges steel makers to provide relief to MSME sector

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..