### **Overview** Arfin India Limited is a leading integrated manufacturer and trader in the non-ferrous metals sector, specializing in aluminium and ferro alloy products. Headquartered in Chhatral, Gandhinagar, Gujarat, the company operates multiple manufacturing facilities and a corporate office within the Ravi Industrial Estate. Promoted by Mr. Mahendra Rikhavchand Shah and Mr. Jatin Mahendra Shah, Arfin has established itself as a key player in the domestic and global aluminium value chain, serving the **steel, automobile, and power sectors**. --- ### **Core Business & Product Portfolio** Arfin manufactures and supplies a diverse range of high-quality products, including: - **Aluminium Wire Rods** - **Aluminium Deoxidizers (Deox)** - **Cored Wire** - **Aluminium Alloy Ingots** - **Ferro Titanium** - **Inoculants** (Barium, Calcium, Cerium, Strontium, Ferro Silicon Magnesium, Nickel Magnesium Alloy, Ferro Silicon Zirconium) - **Conductors & Cables** - **Aluminium Cubes & Notch Bars** (produced at the Vadaswami plant, ~5 km from main facility) The company’s product portfolio is designed to serve critical applications across industrial sectors and supports backward and forward integration strategies. --- ### **Manufacturing & Capacity** As of **August 2025**, Arfin has an **installed production capacity of 71,000 metric tons per annum**. The company is on a strategic expansion path to increase capacity to **113,000 metric tons per annum over the next 10 years**, driven by: - **Brownfield expansion** requiring an estimated capital outlay of INR 500 crore (as of Mar 2024). - Commissioning of **dedicated inoculant manufacturing units** with an initial capacity of **1,800 MTPA**, production of which commenced in **October 2023**. Arfin operates **four manufacturing plants** and one corporate office, all located in Chhatral, along with warehousing and R&D infrastructure. - **Second Aluminium Alloy Ingots plant** at Dhanot became operational in **December 2020**, adding 12,000 MTPA capacity. - **Alloy Wire Rod plant** commissioned in FY 2020–21 enabled backward integration into conductor manufacturing. --- ### **Strategic Partnerships & Global Expansion** In **April 2024**, Arfin entered into a **14-year exclusive Distributorship and Agency Agreement** with **JFE Shoji India Private Limited**, a subsidiary of Japan’s **JFE Holdings**—a globally renowned steel and trading conglomerate. Key aspects of the partnership: - **JFE Shoji** is the **exclusive distributor** for Arfin’s **Aluminium Wire Rods** and **Aluminium Deox** products. - Focus on promoting **recycled aluminium deoxidizer** products in **India and key international markets** including **Japan, Vietnam, Oman, Saudi Arabia, South America, the Middle East, and China**. - JFE invested **₹52.50 crore** via preferential allotment of **9,798,432 equity shares at ₹53.58 per share**. - Proceeds to fund: - Capacity expansion - Long-term working capital - New growth initiatives This alliance strengthens Arfin’s access to **global supply chains** and reinforces its presence in international markets. --- ### **Customer Base** Arfin serves a prestigious clientele across continents, including: - **Steel:** Tata Steel, JSW, JSPL, AMNS, JFE - **Automotive & Trading:** Honda Trading, SABIC, Mitsui & Co. - **Power:** DISCOMs in Gujarat, Maharashtra, and Madhya Pradesh Exports have grown significantly, with **export sales reaching ₹10,914 lakhs in FY22**—an **88% YoY increase**—and continued expansion into key global markets. --- ### **Growth Strategy** Arfin is pursuing **value-driven, sustainable growth** through: 1. **Product Premiumisation:** Shifting towards **high-margin, value-added products** such as inoculants and specialty alloys. 2. **Forward Integration:** Enhancing margin potential through captive consumption (e.g., conductor manufacturing using in-house wire rods). 3. **Portfolio Optimization:** Introducing new products and discontinuing low-margin lines. 4. **Strategic Alliances:** Collaborating with domestic and international partners for market access and technology enhancement. Volume growth (YoY) highlights: - **Aluminium Deox:** +38% - **Aluminium Wire Rods:** +33% - **Ferro Titanium:** +21% (*as of Sep 2023*) --- ### **Sustainability & Innovation** - **Captive Renewable Energy Project:** Planned to reduce **carbon footprint**, improve **energy efficiency**, and lower **operational costs**. - **Environmental Commitment:** Focus on reducing waste, optimizing processes, and leveraging recycled materials. - **Quality Assurance:** In-house laboratories and dedicated QA teams ensure compliance with **global standards**. - **Technology Adoption:** Use of IT systems for process standardization, operational efficiency, and real-time monitoring. Arfin adheres to standards set by: - **Bureau of Indian Standards (BIS)** - **Aluminium Association of India (AAI)** - **IEEMA (Indian Electrical and Electronics Manufacturers’ Association)** - **Bureau of International Recycling (BIR)** - **Metal Recycling Association of India (MRAI)** - **Cable and Conductor Manufacturers Association of India** --- ### **Financial & Corporate Developments** - **Profit after tax:** ₹1,032 lakhs (**₹103.2 crores**) in FY23, a **12% YoY increase**. - **Share Subdivision:** In **September 2023**, each ₹10 face value equity share was split into **ten ₹1 shares** to improve liquidity and attract retail investors. - Strong financial discipline, focusing on **cost control, reduced financing costs, and higher capacity utilization**.