PNN
Mumbai (Maharashtra) [India], January 15: NewMalayalam Steel Limited (NSE: NMSTEEL), renowned for its expertise in galvanized pipes, tubes, and sheets, the company proudly announces securing significant orders from domestic entities for its premium-quality steel products.
Order Highlights:
1. Order Dated January 11th, 2025:
- Product: 1025 MT of Demac GP Pipes and Tubes
- Order Value: Rs7.31 Cr
2. Order Dated January 7th, 2025:
- Product: 1500 MT of Demac GP Pipes and Tubes.
- Order Value: Rs10.59 Cr
In the last 15 days, NewMalayalam Steel has secured written orders totaling an impressive Rs31.75 Cr. This steady flow of orders reflects the company's strategic commitment to expanding its market footprint and strengthening its client portfolio. It highlights NewMalayalam Steel's unwavering dedication to delivering high-quality products while meeting the evolving needs of its customers. These milestones not only enhance the company's earnings visibility but also support its long-term growth prospects.
Commenting on the development Vazhappily Davis Varghese, Managing Director of NewMalayalam Steel said: "We are delighted to share these significant order wins, which underscore the enduring trust our customers place in our products and services. This steady stream of orders reflects our unwavering focus on addressing the growing demand for galvanized steel solutions while reinforcing our position in the market. These achievements are a testament to our commitment to delivering superior value, fostering strong client relationships, and driving sustainable growth. As we move forward, we remain dedicated to operational excellence and exceeding customer expectations in all aspects of our business".
About NewMalayalam Steel Limited
NewMalayalam Steel Limited specializes in the production of galvanized pipes, tubes, and sheets. The company has expanded its production capacity through the addition of welding tube mills and has established a distribution network in Kerala, selling directly to local contractors, retailers, and its Promoter Group entity, Jaihind Steel Private Limited. Emphasizing stringent quality control measures across procurement, manufacturing, and logistics, as well as employing innovative marketing strategies, the company has secured a market presence. A dedicated Quality Control Division and an in-house laboratory support the company's commitment to quality. Furthermore, the company promotes sustainability through the operation of a partially solar-powered manufacturing unit. NewMalayalam Steel Limited sources pre-galvanized coils from a variety of suppliers, including both international and domestic providers such as JSW and AMNS.
For FY24, The Company Reported a Revenue of Rs 300.16 Cr, EBITDA of Rs 10.27 Cr, and PAT of Rs 4.27 Cr.
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