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Stock Below 5 Rs : This debt-free business intends to become a significant force in the global steel market

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Stock Below 5 Rs : This debt-free business intends to become a significant force in the global steel market

 Gyscoal Alloys Limited manufactures stainless steel and long goods made of mild steel from scrap. Iron and steel scrap dealing was how the company got its start. The company began producing rolled goods in 2005 after purchasing a steel rolling facility from Shah Alloys Group.

In a general notice on Tuesday, the business said that if large infrastructure projects advance quickly, steel prices may rise in 2023–2024 as a result of rising local consumption and worldwide demand.

The firm believes that the abolition of export taxes by the Indian government would enable them to reach more clients both in India and internationally. The firm has already updated its manufacturing facilities and educated its staff to increase efficiency and enhance the product mix in accordance with market demands. Gyscoal receives greater prices for its goods from its clients since the items are produced under tight quality control.

Gyscoal is a debt-free business with assets worth over 110 crore, and it expects to generate over 300 crore in revenue and achieve an EBITA of 15 to 18% for the entire year. To better serve its clients, the management plans to improve its marketing and stocking operations in India, the Gulf, and the MENA area. Along with adding systems and staff, the management also plans to increase the melting division’s capacity by another 1.00.000 MT and the rolling division’s capacity by a comparable amount.

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