International Steels Limited

Last updated
International Steels Limited
Company type Public
PSX:  ISL
KSE 100 component
Industry Steel
Founded2007;18 years ago (2007)
FounderTowfiq H. Chinoy [1]
Headquarters Karachi, Sindh
Area served
Pakistan
Key people
Yousuf H. Mirza (CEO)
Kamal A.Chinoy (chairperson)
RevenueDecrease2.svgRs. 76.75 billion (US$270 million) (2023)
Decrease2.svgRs. 7.455 billion (US$26 million) (2023)
Decrease2.svgRs. 3.518 billion (US$12 million) (2023)
Total assets Decrease2.svgRs. 42.391 billion (US$150 million) (2023)
Total equity Decrease2.svgRs. 21.683 billion (US$75 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.com.pk
Footnotes /references
Financials as of 30 June 2023 [2]

International Steels Limited is a Pakistani company which manufactures cold rolled, galvanized and color coated steel coils and sheets. [3] [4] The company is headquartered in Karachi, Pakistan. [5]

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]

References

  1. ↑ "Towfiq H. Chinoy, founder International Steel Limited". Business Recorder.
  2. ↑ "International Steels Limited Annual Report 2023" . Retrieved 18 May 2024.
  3. 1 2 Research, B. R. (2024-02-07). "International Steels Limited". Brecorder. Retrieved 2024-02-09.
  4. ↑ Zahid, Anusha (February 21, 2019). "Scions of steel". Aurora Magazine.
  5. 1 2 "Expansion:International Steels plans to boost production capacity". The Express Tribune. 1 February 2017.
  6. ↑ "First IPO after 12 months over-subscribed". DAWN.COM. April 12, 2011.
  7. 1 2 "International Steels IFC funding".
  8. ↑ Hussain, Arshad (January 22, 2018). "Aisha Steel Mills Ltd- Yet another business case built on protectionism". Profit by Pakistan Today.
  9. ↑ "International Steel: Trading starts at the Karachi stock exchange". The Express Tribune. June 1, 2011.
  10. 1 2 "International Steels Limited expands production to over 500,000MT". Brecorder. March 8, 2016.
  11. ↑ Hussain, Bilal (June 27, 2018). "International Steels' new plant comes on line". The Express Tribune.
  12. ↑ Haris, Danyal (June 28, 2018). "International Steels emerges as biggest cold roller after kick-starting new plant". The News International .
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