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{{Short description|Pakistani company which manufactures steel products}}
{{Infobox company
{{Infobox company
| name = International Steels Limited
| name = International Steels Limited
| trading_name =
| trading_name =
| logo = ISL Pakistan logo.png
| logo = International Steels Limited logo (2023).png
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{karse|ISL}}
| traded_as = {{karse|ISL}}
| founder =
| area_served = Pakistan
| area_served = Pakistan
| key_people =
| key_people = Yousuf H. Mirza ([[CEO]]) <br/> Kamal A.Chinoy ([[chairperson]])
| industry = [[Steel]]
| industry = [[Steel]]
| products =
| 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}}
| foundation = {{Start date and age|2007}}
| location = [[Karachi]], Sindh
| 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}}
| 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 [[steel]] products.<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"/>
'''International Steels Limited''' ({{lang-ur|انٹرنیشنل اسٹیلز}}) is a Pakistani [[company]] which manufactures [[Cold-formed steel|cold rolled]], [[Hot-dip 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> It is based in [[Karachi]], [[Pakistan]].<ref name="tribune.com.pk"/>


== History ==
== History ==
International Steels was founded in 2007 as a subsidiary of International Industries Limited.<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 is located at 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>
International Steels was incorporated in 2007 as a [[joint-venture]] between [[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 in 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 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 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==
==References==

Latest revision as of 17:12, 30 May 2024

International Steels Limited
Company typePublic
PSX: ISL
IndustrySteel
Founded2007; 17 years ago (2007)
FounderTowfiq H. Chinoy[1]
HeadquartersKarachi, Sindh
Area served
Pakistan
Key people
Yousuf H. Mirza (CEO)
Kamal A.Chinoy (chairperson)
RevenueDecrease Rs. 76.75 billion (US$270 million) (2023)
Decrease Rs. 7.455 billion (US$26 million) (2023)
Decrease Rs. 3.518 billion (US$12 million) (2023)
Total assetsDecrease Rs. 42.391 billion (US$150 million) (2023)
Total equityDecrease Rs. 21.683 billion (US$75 million) (2023)
OwnerInternational Industries Limited (56.33%)
Sumitomo Corporation (9.07%)
JFE Steel (4.74%)
Number of employees
688 (2023)
ParentInternational Industries Limited
Websiteisl.com.pk
Footnotes / references
Financials As of 30 June 2023 [2]

International Steels Limited (Urdu: انٹرنیشنل اسٹیلز) is a Pakistani company which manufactures cold rolled, galvanized and color coated steel coils and sheets.[3][4] It is based in Karachi, Pakistan.[5]

History[edit]

International Steels was incorporated 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[edit]

  1. ^ "Towfiq H. Chinoy, founder International Steel Limited". Business Recorder.
  2. ^ "International Steels Limited Annual Report 2023". Retrieved 18 May 2024.
  3. ^ a b 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. ^ a b "Expansion:International Steels plans to boost production capacity". The Express Tribune. 1 February 2017.
  6. ^ Newspaper, From the (April 12, 2011). "First IPO after 12 months over-subscribed". DAWN.COM.
  7. ^ a b "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. ^ a b "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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