Mukand Ltd
NSE: MUKANDLTD BSE: 500460
₹149.36
+4.05 (2.79%)
Thu, 05 Nov 2026, 05:11 pm
Market Cap (in Cr)2096.63
PE Ratio3.41
Dividend1.38
Non-Energy Minerals
Steel
24.5KMukand Ltd Company History
1937
- Incorporated on 29 November in Mumbai.
- Established continuous sequence casting with flying tundish and special alloy addition technique in steel melt shop.
- Took over vendors' business as going concern from 21 October and Hindustan Iron and Steel Products Ltd. from liquidator.
- Issued 59,000 Equity shares and 5,900 Deferred shares.
1944
- Issued 68,750 right Equity shares in proportion 1:2.
1946
- Issued 10,000 right Preference shares in proportion 1:20.
1958
- Issued 2,04,725 right Equity shares in proportion 1:1.
1960
- Issued 4,09,450 right Equity shares in proportion 1:1.
1963
- Issued 1,00,000 right Equity shares in proportion 1:8.
- Issued 9,18,900 right Equity shares in proportion 1:1.
1970
- Issued 2,44,601 bonus Equity shares in proportion 1:10 in March.
1972
- Issued 2,691,075 bonus shares in proportion 1:1.
1976
- Issued 26,91,187 bonus Equity shares in proportion 1:2 in July.
1979
- Incorporated Mukand Holdings Pvt. Ltd. as investment company; became wholly owned public limited subsidiary.
1983
- Commissioned ladle refining furnace and vacuum degassing station.
- Issued 17,50,000 Equity shares at Rs 5 premium converting 13.5% debentures.
1984
- Commissioned 10.5 metre radius bloom caster, largest in India.
- Formed research and development division effective 1 January.
- Revalued land, roads, and buildings as on 30 June.
1985
- Government approved collaboration with Advanced Design Materials Corporation, U.S.A.
- Revalued plant and machinery as on 30 June, crediting Rs 27,48,78,249 to revaluation reserve.
- Formed to acquire businesses of Mukand Iron Works, Mukand Steel Rolling Mills, and Mukand Steel Foundry (since 1920).
1986
- Received basic engineering package from BBC Brown Boveri, Switzerland; implemented project.
- R&D introduced super steel-60 bars and established CSL process for colouring steel.
1987
- Modernisation included top and bottom blown converter and additional roughing stand for bar mill.
- Installed scanning electron microscope and automatic polishing machines in R&D.
- Designed and installed pilot plant for coloured stainless steel components.
1988
- Installed oxygen top and bottom blown converter and dust collection system.
- Issued 49,11,781 bonus shares in proportion 1:2.
1989
- Changed name from Mukand Iron & Steel Works Ltd. to Mukand Ltd.
- Supplied bulk equipment for medium merchant and structural mill to Rashtriya Ispat Nigam Ltd.
- Developed railway and non-railway castings for USSR, wear-resistant castings for USA and Japan.
- Installed electro-magnetic stirrer, auto mould level controller, shot blasting machine, pollution control in bloom caster.
- Mukand Dravo Wellman Pvt. Ltd. became subsidiary.
1990
- Lower production and sales of steel and alloy castings due to USSR shortfall and lack of railway orders.
- Manufactured heavy duty cranes (140-200 tonnes) and iron ore handling equipment.
- Installed bell furnace for spheroidise annealing of wire rods.
- Mukand Soviet Engineering Ltd. became subsidiary.
1991
- Machine Building Division supplied 11,000 tonnes equipment including to Visakhapatnam steel plant.
- Received orders from SAIL for Rourkela steel plant modernisation.
- Increased exports to new markets like Latin America and Northern Europe; introduced carbon steel fasteners.
- Modernised casting facilities; proposed ladle refining, vacuum degassing, rolling.
- Added hot briquetted iron systems, annealing furnaces, heat treatment, straightening machines.
- R&D developed heat treatment and import substitution steels; studied surface finish, machinability.
1992
- Machine Building division received preliminary acceptance for Visakhapatnam steel plant equipment.
- Supplied and commissioned sponge iron plant equipment to Bellary Steel and Alloys Ltd. and Raipur Alloys & Steel Ltd.
- Expanded machining facilities and shed area in Machine Building division.
- Set up Engineering Construction Division for surveys, engineering, and turnkey jobs.
- Merged Becom Engineering Co. Ltd. as a division.
- Becom Engineering Division developed new lathe and drilling machines.
- Commissioned Wire rod mill unit No. 2.
- Offered 36,94,744 equity shares at Rs 90 premium on 1:4 rights basis; all taken up.
- Offered 1,84,737 equity shares at Rs 90 premium to employees; all taken up.
- Offered 36,94,744 16% Non-convertible debentures with warrants on 1:4 rights basis.
- Offered 1,84,737 16% Non-convertible debentures with warrants to employees; 1,82,179 taken up.
1993
- Transferred Engineering Construction Division business to Mukand Engineers Ltd.
- Allotted 23,759 equity shares in proportion to Beco shares held.
- Sold assets of Batala Unit of erstwhile Beco Engineering Co. Ltd.
1994
- Proposed transfer of machine building division to Mukand Industrial Machinery Ltd.
- Installed electro-magnetic stirrer and auto mould level control equipment.
- Installed chemically bonded sand system for bright bars and steels.
- Allotted 33,70,500 shares at Rs 315 premium to FIIs, FIs, corporates; 38,76,923 shares at Rs 90 premium to warrant holders.
1995
- Steel Foundry division enlarged share of high value alloy and stainless steel castings.
- Rolling Mill division commissioned solution annealing furnaces and coil finishing facilities.
- Developed import substitution products for fastener manufacturers and fine wire drawing.
- Received approvals to develop hotel site on 2 lakh sq. ft. area.
- Achieved breakthroughs in markets like Suria, South Africa, South East Asia, Europe, USA.
- Signed agreements with five mini steel plants for technical know-how and services.
- Proposed alliance with Kalyani Ferrous Industries Ltd. for hot metal conversion.
- Received permission from Govt. of Karnataka for 1.25 million tonnes steel plant.
- Promoted joint venture for stainless steel billets and flats at Jodhpur.
- Received industrial license for steel making capacity expansion to 2,70,000 tonnes p.a.
- Mukand Industrial Machinery Ltd. became wholly owned subsidiary.
- Allotted 2,259,250 Equity shares on exercise of conversion warrants.
1996
- Commissioned in-house designed trip hummer testing facility.
- Entered technical know-how agreement with Japanese consultancy firm.
- Installed two short-time cycle furnaces from USA for wire rod heat treatment.
- Installed largest bloom caster in country for 250 mm square blooms; rehabilitated and modernised Kurla bar mill.
- Signed MOU with Mitsui Engineering Services, Japan for crane manufacturing.
- Developed surface wheel lathe for Indian Railways and heavy duty CNC lathes.
1997
- Rs 82.50 crore outstanding in term loans from financial institutions as of 31 March.
1998
- International Aluminium Products Ltd. planned 50,000 tonnes rolled products capacity.
- Formed joint venture with Mitsui Babcock Energy Ltd.
- Signed MOU with Hitachi for boilers to Vizag power project; in talks with NTPC for Talcher project.
- CRISIL downgraded non-convertible debentures from A+ to BBI+.
1999
- Set six-month deadline to reduce rejection levels by over 50% at Kalwe and Hospet facilities.
- Developed technique correlating contaminants and metallurgical features in stainless steel.
- Developed innovative processes to cope with steel industry slump.
2000
- Entered joint venture with Satyam Infoway and M K J Enterprises for e-commerce steel trading portal.
- Decided to close Kurla foundry unit.
- Appointed Rahul Bajaj as Chairman.
- Introduced Voluntary Retirement Scheme at Kalwe plant.
2004
- Launched rights issue in 9:4 ratio at Rs 10 per share to raise Rs 50.64 crore.
- Jamnalal Sons Pvt. Ltd. acquired 20,535,981 equity shares (28.076% of paid-up capital).
2005
- Kalpataru emerged as highest bidder for Kurla foundry.
- Earmarked Rs 120 crore to increase alloy steel capacity by 40% and stainless steel by 80%.
2006
- Appointed Shri K. J. Mallya as Company Secretary.
- Recommended dividend payment of 0.01% on Preference capital, including arrears.
2007
- Appointed Shri K.M. Jayarao as Nominee Director of ICICI Bank Ltd.
2008
- Signed Joint Venture Agreement with Vini Iron & Steel Udyog Ltd for captive coal mining in Jharkhand.
2010
- Appointed Shri Amit Yadav as Director.
2011
- Formed 50:50 joint venture Mukand Bekaert Wire Industries Pvt. Ltd. with NV Bekaert SA.
2012
- Formed joint venture with Sumitomo Corporation, Japan.
- Sold Cold Finished Bars & Wires Business to subsidiary Technosys Metal Processing Ltd.
2014
- Announced rights issue in the ratio 1:1.
2017
- Partnered with Sumitomo Corporation, Japan for rolling and finishing of alloy steel.
2023
- Signed PDA for 43.75 MW AC Group Captive Solar Plant with Tata Power Renewable Energy Limited.
2024
- Collaborated with Amplus Phoenix Energy on 23.89 MWp Group Captive Solar Project.
