The steel sector slump is in extended mode. To stay in shape, the Rs 3,500-crore Adhunik Group too did just what the doctor ordered, i.e. focus on internal strengths. The prescription includes integrating operations, investing rationally and divesting non-crore business to reduce debt and generate additional cash flow. It is eyeing revenues of Rs 4,000 crore from its steel & pellet plants post-implementation of the 2-mtpa pellet capacity at Sundergarh, Odisha. New thermal power plants with the Chhattisgarh and Bihar governments are also on the anvil, Manoj Kumar Agarwal, MD, Adhunik Metaliks, told Steel Insights.
Steel Insights is India's premier and widely read monthly magazine on steel and metallurgical industry published by mjunction services ltd (A JV of Tata Steel and SAIL).It delves into the various facets of the domestic and global steel industry, such as market fundamentals, raw material price trends, price forecasts, upcoming projects, corporate updates and international trade and logistics issues.It also includes an incisive analysis of news on steel and allied industries, as well as expert opinions on relevant topics and interviews of industry stalwarts on a regular basis. Also includes daily news headlines & daily newsletter on Steel Industry
