International Steels Limited: Difference between revisions

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Line 1: {{Short description\|Pakistani company which manufactures steel products}} {{Infobox company \| name = International Steels Limited \| trading_name = \| logo = ~~ISL~~International ~~Pakistan~~Steels Limited logo (2023).png \| type = [[Public company\|Public]] \| traded_as = {{karse\|ISL}} ~~\| founder =~~ \| area_served = Pakistan \| key_people = Yousuf H. Mirza ([[CEO]]) <br/> Kamal A.Chinoy ([[chairperson]]) \| industry = [[Steel]] \| products = \| founder = Towfiq H. Chinoy<ref>{{Cite web\|url=https://www.brecorder.com/news/4675001 \|title=Towfiq H. Chinoy, founder International Steel Limited \|website=Business Recorder}}</ref> \| foundation = {{Start date and age\|2007}} \| location = [[Karachi]], Sindh \| revenue = {{decrease}} {{PKRConvert\|76.75\|b}} \| parent = International Industries Limited▼ \| revenue_year = 2023 \| operating_income = {{decrease}} {{PKRConvert\|7.455\|b}} \| income_year = 2023 \| net_income = {{decrease}} {{PKRConvert\|3.518\|b}} \| net_income_year = 2023 \| assets = {{decrease}} {{PKRConvert\|42.391\|b}} \| assets_year = 2023 \| equity = {{decrease}} {{PKRConvert\|21.683\|b}} \| equity_year = 2023 \| num_employees = 688 \| num_employees_year = 2023 \| owner = [[International Industries Limited]] (56.33%) <br/> [[Sumitomo Corporation]] (9.07%) <br/> [[JFE Steel]] (4.74%) ▲\| parent = [[International Industries Limited]] \| website = {{URL\|isl.com.pk}} \| footnotes = Financials {{as of\|2023\|6\|30}} <ref name="AR2023">{{cite web\|title=International Steels Limited Annual Report 2023\|url=https://financials.psx.com.pk/lib/DownloadPDF.php?id=214416 \|access-date=18 May 2024}}</ref> }} '''International Steels Limited''' ({{lang-ur~~\|{{nastaliq~~\|انٹرنیشنل اسٹیلز}}}}) is a Pakistani [[company]] which manufactures [[Cold-formed steel\|cold rolled]], [[Hot-dip ~~products~~galvanization\|galvanized]] and color coated [[Strip steel\|steel coils]] and sheets.<ref name=":0" /><ref>{{Cite web\|url=https://aurora.dawn.com/news/1143292\|title=Scions of steel\|first=Anusha\|last=Zahid\|date=February 21, 2019\|website=Aurora Magazine}}</ref><ref name="tribune.com.pk">{{cite web\|url=https://tribune.com.pk/story/1314123/expansioninternational-steels-plans-boost-production-capacity/\|title=Expansion:International Steels plans to boost production capacity - The Express Tribune\|date=1 February 2017\|publisher=}}</ref> It is based in [[Karachi]], [[Pakistan]].~~<ref name="isl.com.pk">{{cite web\|url=http://www.isl.com.pk/investors/company-information\|title=International Steels Limited - Company Information\|website=International Steels Limited}}</ref>~~<ref name="tribune.com.pk"/> == History == International Steels was ~~founded~~incorporated in 2007 as a ~~subsidiary~~[[joint-venture]] ofbetween [[International Industries Limited]], [[Sumitomo Corporation]], and [[JFE Steel]].<ref>{{Cite web\|url=https://www.dawn.com/2011/04/12/first-ipo-after-12-months-over-subscribed/\|title=First IPO after 12 months over-subscribed\|first=From the\|last=Newspaper\|date=April 12, 2011\|website=DAWN.COM}}</ref><ref name=":0">{{Cite web \|last=Research \|first=B. R. \|date=2024-02-07 \|title=International Steels Limited \|url=https://www.brecorder.com/news/40287737 \|access-date=2024-02-09 \|website=Brecorder \|language=en}}</ref> 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.<ref name="IFC">{{Cite web\|url=https://disclosures.ifc.org/project-detail/SPI/26753/international-industries-ltd \|title=International Steels IFC funding}}</ref> The plant is located atin the industrial estate of [[Landhi]].<ref name="auto">{{Cite web\|url=https://profit.pakistantoday.com.pk/2018/01/22/aisha-steel-mills-ltd-yet-another-business-case-built-on-protectionism/\|title=Aisha Steel Mills Ltd- Yet another business case built on protectionism\|first=Arshad\|last=Hussain\|date=January 22, 2018\|website=Profit by Pakistan Today}}</ref> The project received $18.40 million loan from the [[International Finance Corporation]] which included a [[convertible bond\|convertible loan]] of $6.4 million.<ref name="IFC"/> 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}}.<ref>{{Cite web\|url=https://tribune.com.pk/story/180460/international-steel-trading-starts-at-the-karachi-stock-exchange\|title=International Steel: Trading starts at the Karachi stock exchange\|date=June 1, 2011\|website=The Express Tribune}}</ref> 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]].<ref name="tribune.com.pk">{{cite web\|url=https://tribune.com.pk/story/1314123/expansioninternational-steels-plans-boost-production-capacity/\|title=Expansion:International Steels plans to boost production capacity\|date=1 February 2017\|publisher=The Express Tribune}}</ref><ref name="auto1">{{Cite web\|url=http://www.brecorder.com/news/4382854\|title=International Steels Limited expands production to over 500,000MT\|date=March 8, 2016\|website=Brecorder}}</ref> 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.<ref name="auto1"/> ~~== Products ==~~ ~~It manufactures [[Cold-formed steel\|cold rolled]], [[Hot-dip galvanization\|galvanized]] and color coated [[Strip steel\|steel coils]] and sheets.<ref name=":0" />~~ In June 2018, International Steel commissioned a new plant which further increased its production capacity to 1 million tons per annum.<ref>{{Cite web\|url=https://tribune.com.pk/story/1744246/international-steels-new-plant-comes-line\|title=International Steels’ new plant comes on line\|first=Bilal\|last=Hussain\|date=June 27, 2018\|website=The Express Tribune}}</ref><ref>{{Cite web \|url=https://www.thenews.com.pk/print/334466-international-steels-emerges-as-biggest-cold-roller-after-kick-starting-new-plant \|title=International Steels emerges as biggest cold roller after kick-starting new plant \|first=Danyal \|last=Haris \|date=June 28, 2018 \|website=[[The News International]]}}</ref> ==References==