International Steels Limited (Urdu: انٹرنیشنل اسٹیلز) is a Pakistani company which manufactures cold rolled, galvanized and color coated steel coils and sheets.[3][4] It is based in Karachi, Pakistan.[5]
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| Company type | Public |
|---|---|
| PSX: ISL KSE 100 component | |
| Industry | Steel |
| Founded | 2007 |
| Founder | Towfiq H. Chinoy[1] |
| Headquarters | Karachi, Sindh |
Area served | Pakistan |
Key people | Yousuf H. Mirza (CEO) Kamal A.Chinoy (chairperson) |
| Revenue |  Rs. 76.75 billion (US$270 million) (2023) |
| Rs. 7.455 billion (US$26 million) (2023) | |
| Rs. 3.518 billion (US$12 million) (2023) | |
| Total assets | Rs. 42.391 billion (US$150 million) (2023) |
| Total equity | Rs. 21.683 billion (US$75 million) (2023) |
| Owner | International Industries Limited (56.33%) Sumitomo Corporation (9.07%) JFE Steel (4.74%) |
Number of employees | 688 (2023) |
| Parent | International Industries Limited |
| Website | isl |
| Footnotes / references Financials as of 30 June 2023[update] [2] | |
History
editInternational Steels was incorporated in 2007 as a joint-venture between International Industries Limited, Sumitomo Corporation, and JFE Steel.[6][3] Its plant was commissioned in 2010 at a cost of $162 million and it had a capacity to produce 280,000 tons per annum of cold rolled coil from hot rolled coil, including 150,000 tons per annum of galvanized steel.[7] The plant is located in the industrial estate of Landhi.[8] The project received $18.40 million loan from the International Finance Corporation which included a convertible loan of $6.4 million.[7]
In June 2011, International Steels was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 14.06.[9]
In March 2016, International Steel increasing its annual production capacity to over 500,000 metric tons which included 400,000 metric tons of galvanized steel.[5][10] The project which cost Rs 3.2 billion involved upgrading the cold rolling mill (CCM), adding a second galvanizing line, and establishing a colour coating steel plant.[10]
In June 2018, International Steel commissioned a new plant which further increased its production capacity to 1 million tons per annum.[11][12]
References
edit- ^ "Towfiq H. Chinoy, founder International Steel Limited". Business Recorder.
- ^ "International Steels Limited Annual Report 2023". Retrieved 18 May 2024.
- ^ a b Research, B. R. (2024-02-07). "International Steels Limited". Brecorder. Retrieved 2024-02-09.
- ^ Zahid, Anusha (February 21, 2019). "Scions of steel". Aurora Magazine.
- ^ a b "Expansion:International Steels plans to boost production capacity". The Express Tribune. 1 February 2017.
- ^ Newspaper, From the (April 12, 2011). "First IPO after 12 months over-subscribed". DAWN.COM.
- ^ a b "International Steels IFC funding".
- ^ Hussain, Arshad (January 22, 2018). "Aisha Steel Mills Ltd- Yet another business case built on protectionism". Profit by Pakistan Today.
- ^ "International Steel: Trading starts at the Karachi stock exchange". The Express Tribune. June 1, 2011.
- ^ a b "International Steels Limited expands production to over 500,000MT". Brecorder. March 8, 2016.
- ^ Hussain, Bilal (June 27, 2018). "International Steels' new plant comes on line". The Express Tribune.
- ^ Haris, Danyal (June 28, 2018). "International Steels emerges as biggest cold roller after kick-starting new plant". The News International.