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Steelco Gujarat Restarts Commercial Production After Six-Year Hiatus, Signals Turnaround Under New Ownership

Updated: July 14, 2025 12:31

Image Source: steelcogujarat.com
Steelco Gujarat Ltd has officially resumed commercial production at its Palej facility in Bharuch, Gujarat, as of July 14, 2025. The restart marks a major milestone for the company, which had ceased operations in 2019 due to financial distress and was subsequently revived under a new resolution plan approved by the NCLT in 2023.
 
Key Highlights:
  • The plant will initially produce cold rolled full hard (CRFH) coils, with a rated capacity of 180,000 metric tonnes per annum.
  • Additional lines for hot dip galvanizing and color coating, each with 60,000 MT capacity, are expected to be reactivated in phases by FY26.
  • The restart follows the successful implementation of a revival plan led by Next Orbit Growth Fund III, which acquired the company through insolvency proceedings.
Strategic Context:
  • Steelco’s re-entry into the steel market aligns with rising domestic demand for coated steel products in construction, appliances, and automotive sectors.
  • The company has retained ISO 9001 and ISO 14001 certifications, ensuring compliance with quality and environmental standards.
  • Management has onboarded a new team of professionals to oversee operations, finance, and marketing, aiming to restore profitability within 12–18 months.
Market Outlook:
  • Analysts expect gradual ramp-up in production and revenue, with FY26 topline projected to cross ₹150 crore.
  • The company is also exploring export opportunities to Southeast Asia and Africa, leveraging its strategic location and logistics access.
Sources: Steelco Gujarat Corporate Filings, Economic Times, Screener.in, Business Standard, MarketScreener (July 2025)

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