International Steels Limited
Pakistani company which manufactures steel products
From Wikipedia, the free encyclopedia
International Steels Limited is a Pakistani company which manufactures cold rolled, galvanized and color coated steel coils and sheets.[3][4] It is headquartered in Karachi, Pakistan.[5]
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| 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$27 million) (2023) | |
| Rs. 3.518 billion (US$13 million) (2023) | |
| Total assets | Rs. 42.391 billion (US$150 million) (2023) |
| Total equity | Rs. 21.683 billion (US$78 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 Financials as of 30 June 2023[update] [2] | |
History
International Steels was founded by Amir Sultan Chinoy 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]