June 22, 2017 9:56 PM ET

Metals and Mining

Company Overview of Salem Steel Plant

Company Overview

Salem Steel Plant manufactures stainless steel sheets and coils. The company is based in Chennai, India. Salem Steel Plant operates as a subsidiary of Steel Authority of India Limited.

52,Red Cross Building

Montieth Road

Egmore

Chennai,  600008

India

Phone:

91 44 2851 4308

Fax:

91 44 2851 3208

Key Executives for Salem Steel Plant

Salem Steel Plant does not have any Key Executives recorded.

Salem Steel Plant Key Developments

Salem Steel Plant Reports Audited Standalone Earnings Results for the Fourth Quarter and Standalone and Consolidated Earnings Results for the Year Ended March 31, 2017

Salem Steel Plant reported audited standalone earnings results for the fourth quarter and standalone and consolidated earnings results for the year ended March 31, 2017. For the quarter, on standalone basis, the company reported revenue from operations of INR 5,075.5 million against INR 4,183.4 million a year ago. Loss before interest, exceptional items and tax was INR 287.8 million against INR 1,289.7 million a year ago. For the year, on standalone basis, the company reported revenue from operations of INR 20,323.6 million against INR 17,869.2 million a year ago. Loss before interest, exceptional items and tax was INR 1,124.5 million against INR 3,340.5 million a year ago. For the year, on consolidated basis, the company reported revenue from operations of INR 20,323.6 million against INR 17,869.2 million a year ago. Loss before interest, exceptional items and tax was INR 1,124.5 million against INR 3,340.5 million a year ago.

Tamil Nadu Government Will Not Privatization Of Allow Salem Steel

Tamil Nadu government said on March 24, 2017, it was committed to its stand not to allow the privatization of Salem Steel Plant by the Centre. "This government, following the footsteps of Amma (late Chief Minister J Jayalalithaa) will not allow the privatisation of the Salem Steel Plant," Industries Minister M C Sampath told the state Assembly during a debate. He was responding to opposition DMK and Congress expressing concern over the Centre''s move to privatise the plant, a special steels unit of Steel Authority of India Ltd.

Ministry To Sell Stake Salem Steel

Ministry of Steel intends to sell a stake in Salem Steel Plant. Ministry of Steel is planning to sel a minority stake in Salem Steel Plant to a strategic investor.

Recent Private Companies Transactions

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No transactions available in the past 12 months.
 

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