Gyscoal Alloys Limited - Business Updates

Government of India has recently removed the 15% "Export Duty" on Steel Exports; this sector is prised for major jump in exports to Middle East, Africa and other Markets. This will create positive impact on the "Growth" of Steel Exporting Companies and benefit their bottom line. As a result of removal of Export duty company will start again exports to various countries, which resulting in high profitability.

Gyscoal Alloys Limited will grab this opportunity by gearing up its production capacity and will promote its stainless steel products in the global market and reach out to new customers all over. This Positive announcement of government will increase Export and profitability of the Company.

Gyscoal Alloys Limited is debt free mid size stainless steel producer with assets size of over 100 crore and manufacturing a wide range of steel products like Bright Bar, Black Bar, Angles, Ingots, billets and other products which have very high demand in the export markets as company follow international Quality Management System standards (ISO 9000, ISO 14000, OSHA 18000) for its production system.

Company expect a top line of 300 crore EBIDTA of 15-18 in the year 2023.

Shares of Gyscoal Alloys Limited was last trading in BSE at Rs. 3.41 as compared to the previous close of Rs. 3.58. The total number of shares traded during the day was 260416 in over 231 trades.

The stock hit an intraday high of Rs. 3.50 and intraday low of 3.34. The net turnover during the day was Rs. 886296.00.

Source : Equity Bulls

Keywords

GyscoalAlloys INE482J01021 ProductionCapacity StainlessSteel GlobalMarket Exports