Sujana Metal Products Ltd earlier known as Steels Steels Ltd (SSL) was incorporated on 2 May '88 as a private limited company and was converted into a public limited company on 4 Apr.'92. The company was promoted by Y S Chowdary, V Malakonda Reddy and others. Y S Chowdary is the Chairman & Managing Director. Other group companies include Sujana Industries, Sujana Corporation, Sujana Holdings and Sujana Pharma. The company manufactures steel and re-rolled steel products. The products of the company are mainly for construction and industrial use and they enjoy a very good demand. The company's new hot re-rolling mill for the production of additional 1,25,000 tpa of steel products at Gummidipundi,Chennai was successfully completed. The company's new Hot Re-rolling Mill for the production of 1,25,000 tonnes per annum has been transferred to M/s Padmini Steel Corporation Ltd, a subsidiary company, production in this unit was started by the last quarter of 1997. The company modernised its Re-rolling Mills by way of increasing its manufacturing capacity to 110000 TPA at an cost of Rs 36 crores. The company has taken up Wind Farm Power project for 2 MW capacity in Ananthpur Dist. A.P. at a cost of Rs.843 lakhs and has met with financial assistance from IREDA and Equity. The company has already acquired five companies including the two existing plants in just 12 months. Three more companies are being evaluated for acquisition in Chennai, Hyderabad and Visakhapatnam, and more acquisitions would be made in the next three years to cater realty and infrastructure markets in South India .BUY THIS STOCK AT CURRENT PRICE OF Rs.11 OR BELOW FOR A TARGET OF 18/27/45 .
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