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Radha Smelters to invest 100 crore to raise capacity

TMT bars manufacturer Radha Smelters has prepared plans to invest Rs 75 - 100 crore for increasing capacity to 1 million tonnes per annum (mtpa) by 2025 from the current installed capacity of 0.4 mtpa.

Suman Saraf, Snehil Saraf, Sunil Saraf, Akshat Saraf, Subhash Chowdhari seen at the press conference sharing the salient feature of the new product 550D LRF
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Suman Saraf, Snehil Saraf, Sunil Saraf, Akshat Saraf, Subhash Chowdhari seen at the press conference sharing the salient feature of the new product 550D LRF

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Hyderabad: TMT bars manufacturer Radha Smelters has prepared plans to invest Rs 75 - 100 crore for increasing capacity to 1 million tonnes per annum (mtpa) by 2025 from the current installed capacity of 0.4 mtpa. It has already invested Rs 75 crore in new technology to produce 550D range bars and to enhance the total installed capacity from 0.2 mtpa to 0.4 mtpa with the introduction of the new product.

The company has set an ambitious target to reach the sales of Rs 1,500 crore in financial year 2022-23. It has reported a turnover of Rs 530 crore in the FY 2020-21 and close to achieving Rs 1,000 crore in FY 2021-22, said Suman Saraf, Managing Director of Radha Smelters, while announcing about the launch of a new product range in the city.

"On December 6th, Radha's brand ambassador and Telugu film actor Daggubati Rana will launch 550D LRF (Ladle Refining Furnace) TMT (Thermo Mechanically Treated) Bars produced through LRF Route. Higher ductility and tensile strength is the hallmark of this new range. These bars are considered ideal for critical infrastructure projects and high-rise buildings," he said.

Saraf further said: "There are many grades in steel bars, 550D is a superior grade steel bar with high ductility. It is a special grade bar, which only a handful of companies in India are able to manufacture. This grade is used for high rises and for bridges, dams, ports, flyovers, bridges, wind turbine foundation and other structures that require a high load bearing capacity."

550D grade TMT bars are preferred for some specific properties, that are resistant to earthquakes. These bars are resistant to earthquakes due to their soft pearlite core and can bear seismic and dynamic loading. Currently, 550D grade steel for infrastructure and high rise buildings projects is being primarily supplied by large steel produces like SAIL, Vizag Steel, JSPL, JSW and Tata.

Radha TMT, the 60-year old third generation company, has only one plant at ChinnaShankarampet in Medak District. "We will focus more on the existing plant rather than expanding to new locations," said Saraf. With the enhanced capacity to 0.4 mtpa, the company is looking to garner 7-8 per cent market share from 3-4 per cent at present.

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