ferro alloys corporation
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the company history page lists out the major events in chronological order for ferro alloys corporation ltd .
ferro alloys corporation - disclosures under reg. 29 (2) of sebi (sast) regulations, 2011
» results of e - voting and poll for 60th agm of the ferro alloys corporation limited read more ...
ferro alloys corporation revised disclosures under reg. 31 (1) and 31 (2) of sebi (sast) regulations, 2011
ferro alloys corporation revsied disclosures under reg. 31 (1) and 31 (2) of sebi (sast) regulations, 2011
indian metals & ferro alloys q2 profit slumps 82% to rs 7. 37 crore
ferro alloys corporation (facor) as an old as the indian ferro alloy industry. starting out with limited facilities to manufacture ferro manganese in 1957, it has grown today to become the largest producer of ferro alloys, producing almost all kinds of ferro alloys. it has production facilities in maharashtra for various ferro alloys (inst. cap. : 72, 500 tpa), rolled steel (45, 000 tpa) and a 100% eou for charge chrome (50, 000 tpa) .
ferro alloys corporation statement of investor complaint under reg. 13 (3) of sebi (lodr) regulations, 2015 for quarter ended december 31, 2016
indian metals and ferro alloys net profit up at rs 63. 87 crore in quarter ending dec 31, 2017
ferro alloys corporation ltd. , incorporated in the year 1955, is a small cap company (having a market cap of rs 94. 30 crore) operating in metals - non ferrous sector .
» public announcement { under regulation 6 of the insolvency and bankruptcy board of india (insolvency resolution process for corporate persons) regulations, 2016 } for the attention of the creditors of ferro alloys corporation limited read more ...
the group that started its journey with a ferro manganese plant in shreeramnagar, andhra pradesh to produce ferro manganese, diversified into various types of ferro alloys. further, it established a large chrome ore mining complex at bhadrak in the state of orissa followed by the first charge chrome plant in 1981. facor also diversified into alloys and steel production in nagpur, maharashtra .
the eldest son of the founder and the chairman & managing director of the group. ferro alloys corporation limited, widely known as facor group, today is one of the india' s largest and established producers and exporters of high carbon ferro chrome / charge chrome worldwide, an essential ingredient for the manufacture of steel and stainless steel .
» facor group signs annual contract for supply of ferro chrome read more ...
the company has restructured its capital by implementing the following: 1. trifurcation of the company into 3 independent entities as follows: a. ferro alloys division consisting of plant at garvidi in andhra pradesh is transferred to a new company being formed in the name of facor alloys ltd. b. steel division consisting of steel melting & rolling plant at nagpur, maharashtra is transferred to a new company being formed in the name of facor steels ltd. c. charge chrome division consisting of charge chrome plant and mines in orissa will remain with the existing company ferro alloys corporation ltd .
the ferro alloys division was reopened during the year 2000 - 2001, after a gap of 14 months and it operated only 2 furnaces out of 16 furnaces with available 16 mw ntpc power .
2. the equity share capital of the company shall be split amongst the above mentioned three entities in the following ratio: i. facor steels limited - 20% - face value per share rs. 2 / -. ii. facor alloys limited - 40% - face value per share rs. 4 / -. iii. ferro alloys corporation limited - 40% - face value per share rs. 4 / - .
ferro alloys corporation ltd. key products / revenue segments include ferro alloys which contributed rs 482. 37 crore to sales value (79. 95% of total sales), chrome ore which contributed rs 111. 34 crore to sales value (18. 45% of total sales), export incentives which contributed rs 9. 04 crore to sales value (1. 49% of total sales), by products which contributed rs. 55 crore to sales value (0. 09% of total sales) for the year ending 31 - mar - 2016 .
subsequent to the above split up of share capital, the nominal and paid up value of equity shares held by the shareholders in each of the above 3 companies will be written down / derated by 90% i. e. , from rs. 2 / -, rs. 4 / -, and rs. 4 / - per share to rs. 0. 20, rs. 0. 40 & rs. 0. 40 per equity share in facor steels limited, facor alloys limited & ferro alloys corporation limited respectively and consolidation of such reduced shares into shares of paid up value of re. 1 / - each in all the companies .
the fortunes of the ferro alloy industry are linked to the ups and downs of the steel industry, as ferro alloys are used in the production of steel. it is a power - guzzling industry and power tariff constitutes 35 - 40% of the production cost in india. the ever - increasing power tariff has led facor to enter into several disputes with the sebs and, today, its outstanding litigation fees amount to around rs 14 cr .
the ferro alloys division of the company at shreeramnagar in andhra pradesh has been under lock out since 19 / 3 / 99 due to some labour problems. the bifr have declared the company a a sick industrial company and appointed icici ltd as the operating agency to examine the viability of the company and formulate a rehabilitation scheme for its revival .
ferro alloys corporation limited (facor) incorporated in 1955 is one of the india' s largest producers and exporters of ferro alloys, an essential ingredient for manufacture of steel and stainless steel. it exports to several countries like korea, japan, italy, netherlands, usa, turkey, china and taiwan. facor group, started its journey in 1956 from a ferro manganese plant at shreeramnagar in andhra pradesh has come a long way. today, facor stands synonymous to a name, which employs experience, resources and technical know - how, not only in technology but in quality as well. post trifurcation of the facor group into 3 independent entities in 2004 under a demerger scheme, facor has the capacity to produce 65, 000 tpa of charge chrome / ferro chrome and 2, 50, 000 tpa of chrome ore at its plant in orissa. it has also established a mining complex at bhadrak in orissa for the mining of chrome ore, the main raw material for the production of charge chrome / ferro chrome. stringent quality control for both raw materials and finished products is maintained. facor has been accredited with iso 9001: 2000 standard, which coupled with other control measures adopted by the company, enables it to maintain its world wide status as a producer of quality products. alongwith strengthening its industrial activities, which include marketing, production and technology development, facor continuously strives towards creating new products of high technology .
facor has the capacity to produce 65, 000 tonne per annum (tpa) of ferro chrome and 2, 50, 000 tpa of chrome ore at its plant in orissa. it has also established a mining complex at bhadrak in orissa for the mining of chrome ore, the main raw material for the production of ferro chrome .
ferro alloys is in the mining & minerals sector. the current market capitalisation stands at rs 94. 30 crore. the company management includes r k saraf - chairman & managing director, manoj saraf - managing director, ashish saraf - joint managing director, rohit saraf - joint managing director, vineet saraf - director, a s kapre - director, umesh khaitan - director, pinaki misra - director, m b thaker - director, urmila gupta - director. it is listed on the bse with a bse code of 500141 and the nse with an nse code of ferroalloy. its registered office is at charge chrome plant: d p nagar, , p. o randia, bhadrak dist. , orissa - 756135. their registrars are beetal financial & computer services (p) ltd
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arcelormittal, the world’s largest steel maker, is eyeing another strategic buy in india .
the promoters of facor — the saraf family — are planning to diversify into the power business and want to divest a part of their stake to raise funds. facor is valued for its chrome ore mining complex in orissa .
“ arcelormittal has shown interest in the stake buy and the due diligence will start soon, ” said an official familiar with the development .
the facor stock closed at rs 23. 5 a share on the bombay stock exchange today. at the current price, the company has a market capitalisation of rs 435 crore. however, the deal is expected at rs 35 a share, about 50 per cent premium to the current market price .
“we would like to dilute the promoter’s equity to raise funds for expansion in power business, ” said ashish saraf, joint managing director in the company which has appointed ernst & young to do the valuation and look for a strategic partner .
the company needs rs 2, 500 crore for setting up a 500 mw power plant .
saraf declined to quantify the stake the promoters are willing to dilute, nor did he want to specify the target price .
“they (arcelormittal) may have shown interest but we are directly not in touch. ernst and young is yet to come back to us with the names of interested companies, ” he said .
billionaire laksmi n mittal promoted arcelormittal signed a co - promotion agreement with mumbai based uttam galva in september. it completed the buyout in march, paying an estimated rs 500 crore for the 33. 8 per cent stake in the company .
following this, both arcelormittal and the current promoters of uttam galva are equal partners in the company .
“arcelormittal is finding it tough to start its green field project, so it is buying stakes in small ventures to get hold in the indian market, ” says giriraj daga, an analyst with mumbai based brokerage khandwala securities. “since ferroalloy is used as raw material for steel making, it would be valuable for any steel maker to have a strategic tie up, ” he said .
arcelormittal plans to build greenfield steel production capacity of 30 million tonne per annum in india. while orissa and jharkhand will have 12 million tonne capacity each, karnataka will have a plant with a capacity of six million tonnes .
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facor group exports its products to several countries like china, germany, korea, japan, italy, netherland, taiwan, turkey and usa .
the group plans to expand in the power sector and to capitalize on the opportunities in this sector, it has lined up major power ventures ...
alongwith strengthening its industrial activities, which include marketing, production and technology development, facor continuously... .
creating value for our investors, partners, vendors and to the society at large, lies at the root of our fundamental business strategy ...
mr. ashish saraf, jmd with the prime minister of india mr. narendra modi
mr. ashish saraf, jmd with the hon’ chief minister andhra pradesh mr. n. chandrababu naidu
» disclosure dated 12 / 3 / 18 under regulation 30 of the sebi (lodr), regulations, 2015 read more ...
» disclosure under regulation 44 of sebi (lodr), regulations, 2015 read more ...
» we, at facor, believe that we have a responsibility towards our community and we shall endeavor to shoulder that responsibility. as part of our csr initiatives, we have built science block “d p saraf science block” within the campus of rameshwar mahavidyalaya situated in randia, bhadrak district, orissa. the science block is named after our founder late shri. durga prasad ji saraf. the building will be inaugurated shortly. read more ...
» our mining division in orissa state had organized a mega free health camp at shreeram u. p. school, kathpal– about 100kms from bhadrak district, orissa. read more ...
alongwith strengthening its industrial activities, which include marketing, production and technology development, facor continuously strives towards creating new products of high technology. known for its positive attitude, every facor venture is a milestone in itself .
» we, at facor, believe that we have a responsibility towards our community and we shall endeavor to shoulder that responsibility. as part of our csr initiatives, we have built science block
d p saraf science block
within the campus of rameshwar mahavidyalaya situated in randia, bhadrak district, orissa. the science block is named after our founder late shri. durga prasad ji saraf. the building will be inaugurated shortly. read more ...
» our mining division in orissa state had organized a mega free health camp at shreeram u. p. school, kathpal - about 100kms from bhadrak district, orissa. read more ...
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for the quarter ended 31 - 12 - 2017, the company has reported a standalone sales of rs 140. 89 crore, down - 1. 57% from last quarter sales of rs 143. 13 crore and down - 1. 03% from last year same quarter sales of rs 142. 36 crore company has reported net profit after tax of rs 9. 84 crore in latest quarter .
the company’s top management includes mr. a s kapre, mr. ashish saraf, mr. m b thaker, mr. manoj saraf, mr. pinaki misra, mr. r k saraf, mr. rohit saraf, mr. umesh khaitan, mr. vineet saraf, mrs. urmila gupta. company has salve & co. as its auditors as on 31 - 03 - 2018, the company has a total of 185, 268, 241 shares outstanding .
the producers are not able to pass over the increase in the cost of production, mainly due to the presence of a large number of small - scale units which enjoy exemptions from excise duty and sales tax, and power tariff concessions. enjoying a market share of more than 50% , they have pushed many established units, including facor, into the red. facors charge chrome unit, too, has performed badly as international prices touched rock bottom. to meet its working capital requirements, the company raised rs 18. 34 cr through a rights issue of equity shares in may 93 (premium: rs 25). in terms of a rehabilitation package, the company has agreed to issue zero - interest convertible debentures to financial institutions to the extent of the amount of funded interest, aggregating about rs 34 cr .
during the year 1997 - 98, the company was referred to bifr since its networth stands fully eroded. during 1995 - 96 the turnover of the company increased to rs. 406. 15 crores as against rs. 289. 45 crores during 1994 - 95 .
during the year 1999 - 2000, the company received eepc all india trophy for highest exporters for the year 1998 - 99 in the category of
prime metal - ferrous and non - ferrous exporters - non - ssi
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the ferro alloys corporation limited ( facor ) was floated in 1955 by the house of sarafs and mors to become the first major producer of ferromanganese in india . the year 1956 , marked the beginning of the ferro alloys corporation limited at sriramnagar , garividi , vizianagaram district , andhra pradesh . the founder was seth shriman durgaprasadji saraf ( 1911 – 1988 ) . the registered office is at tumsar , bhandara district , maharashtra . ferroalloys are used as deoxidizers and alloy additives in the steel manufacturing process . the ferromanganese plant started production in 1957 , equipped with three furnaces for production of high carbon ferromanganese and ferrosilicon . in 1969 , a reduction furnace and a slag furnace were commissioned for production of ferrochrome . the company independently , set up a 16 mva furnace in 1981 . facor acquired a small steel plant at nagpur in maharashtra . in 1979 , facor developed the technology to produce charge chrome in their own r&d wing . they have established a charge chrome plant at d.p.nagar , randia in bhadrak district of orissa in 1983 . it is a 100 % export oriented project with a production capacity of 50,000 tons per annum . facor signed an agreement with marc rich and co . ag switzerland , as the sole selling agent of their entire charge chrome output for 10 years . the plants at sriramnagar have facilities for raw material handling , metal and slag casting , crushing , sizing and other ancillaries apart from furnaces for smelting of ferro alloys . the raw materials are manganese ore , chromite and quartzite ores with principal elements of manganese , chromium and silicon respectively . they are obtained from the andhra pradesh , orissa , madhya pradesh and bihar states . the ferro alloys produced are high carbon ferro chrome , low carbon ferro chrome , silico chrome , silico manganese and magnesium ferro silicon , ferro manganese etc. , these alloys are tapped from electric arc furnaces in molten state . they are prepared to the required size from 25 mm to 150 mm and transported to the various steel companies . the furnaces are connected to two-stage venturi scrubber systems to maintain a clean environment in and around the production area . facor has been accredited under iso 9001:2000 . the existing manpower at sriramnagar is about 784 regular employees with 107 supervisory personnel , besides 1070 contract workmen . in 2003 , the charge chrome division along with the mining division in orissa has been demerged as facor steels ltd and the ferro alloys division at garividi as facor alloys ltd .
the ferro alloys corporation limited (facor) was floated in 1955 by the house of sarafs and mors to become the first major producer of ferromanganese in india. the year 1956, marked the beginning of the ferro alloys corporation limited at sriramnagar, garividi, vizianagaram district, andhra pradesh. the founder was seth shriman durgaprasadji saraf (1911 – 1988). the registered office is at tumsar, bhandara district, maharashtra. ferroalloys are used as deoxidizers and alloy additives in the steel manufacturing process. the ferromanganese plant started production in 1957, equipped with three furnaces for production of high carbon ferromanganese and ferrosilicon. in 1969, a reduction furnace and a slag furnace were commissioned for production of ferrochrome. the company independently, set up a 16 mva furnace in 1981. facor acquired a small steel plant at nagpur in maharashtra. in 1979, facor developed the technology to produce charge chrome in their own r&d wing. they have established a charge chrome plant at d.p.nagar, randia in bhadrak district of orissa in 1983. it is a 100% export oriented project with a production capacity of 50,000 tons per annum. facor signed an agreement with marc rich and co. ag switzerland, as the sole selling agent of their entire charge chrome output for 10 years. the plants at sriramnagar have facilities for raw material handling, metal and slag casting, crushing, sizing and other ancillaries apart from furnaces for smelting of ferro alloys. the raw materials are manganese ore, chromite and quartzite ores with principal elements of manganese, chromium and silicon respectively. they are obtained from the andhra pradesh, orissa, madhya pradesh and bihar states. the ferro alloys produced are high carbon ferro chrome, low carbon ferro chrome, silico chrome, silico manganese and magnesium ferro silicon, ferro manganese etc., these alloys are tapped from electric arc furnaces in molten state. they are prepared to the required size from 25 mm to 150 mm and transported to the various steel companies. the furnaces are connected to two-stage venturi scrubber systems to maintain a clean environment in and around the production area. facor has been accredited under iso 9001:2000. the existing manpower at sriramnagar is about 784 regular employees with 107 supervisory personnel, besides 1070 contract workmen. in 2003, the charge chrome division along with the mining division in orissa has been demerged as facor steels ltd and the ferro alloys division at garividi as facor alloys ltd.
the ferro alloys corporation limited (facor) was floated in 1955 by the house of sarafs and mors to become the first major producer of ferromanganese in india. the year 1956, marked the beginning of the ferro alloys corporation limited at sriramnagar, garividi, vizianagaram district, andhra pradesh. the founder was seth shriman durgaprasadji saraf (1911 – 1988). the registered office is at tumsar, bhandara district, maharashtra. ferroalloys are used as deoxidizers and alloy additives in the steel manufacturing process. the ferromanganese plant started production in 1957, equipped with three furnaces for production of high carbon ferromanganese and ferrosilicon. in 1969, a reduction furnace and a slag furnace were commissioned for production of ferrochrome. the company independently, set up a 16 mva furnace in 1981. facor acquired a small steel plant at nagpur in maharashtra. in 1979, facor developed the technology to produce charge chrome in their own r&d wing. they have established a charge chrome plant at d.p.nagar, randia in bhadrak district of orissa in 1983. it is a 100% export oriented project with a production capacity of 50,000 tons per annum. facor signed an agreement with marc rich and co. ag switzerland, as the sole selling agent of their entire charge chrome output for 10 years. the plants at sriramnagar have facilities for raw material handling, metal and slag casting, crushing, sizing and other ancillaries apart from furnaces for smelting of ferro alloys. the raw materials are manganese ore, chromite and quartzite ores with principal elements of manganese, chromium and silicon respectively. they are obtained from the andhra pradesh, orissa, madhya pradesh and bihar states. the ferro alloys produced are high carbon ferro chrome, low carbon ferro chrome, silico chrome, silico manganese and magnesium ferro silicon, ferro manganese etc., these alloys are tapped from electric arc furnaces in molten state. they are prepared to the required size from 25 mm to 150 mm and transported to the various steel companies. the furnaces are connected to two-stage venturi scrubber systems to maintain a clean environment in and around the production area. facor has been accredited under iso 9001:2000. the existing manpower at sriramnagar is about 784 regular employees with 107 supervisory personnel, besides 1070 contract workmen. in 2003, the charge chrome division along with the mining division in orissa has been demerged as facor steels ltd and the ferro alloys division at garividi as facor alloys ltd.