- **Rudra Global Infra Products is a steel maker built on recycling - it melts scrap to produce construction-grade TMT bars, using a process that skips the blast furnace and the coal entirely. The company was incorporated in 2010, commenced commercial production of MS billets in 2013, expanded into finished bars within a year, and listed on the Bombay Stock Exchange by 2015. Everything it does - from sourcing raw material through a sister ship-breaking yard to generating its own wind power - follows a single logic: own the steps that competitors pay for, so the cost advantage compounds at every stage.** # Business segments A single integrated steel engine, fed by scrap from a sister ship-recycling operation and powered partly by captive wind energy, with an aerospace casting venture still on the drawing board. ## 1. TMT bars and billets: the integrated recycling mill **The company melts scrap into billets and rolls them straight into branded TMT bars, capturing the margin that would otherwise go to a middleman - and it does it without a blast furnace.** - **Scrap is the feedstock, not iron ore** - the furnaces run on recyclable scrap collected from old machinery, demolished buildings, end-of-life vehicles and household appliances, which means the company avoids the cost and carbon of mining virgin ore. Using scrap instead of virgin metal improves the input-to-output yield by roughly 15%. - **Hot charging cuts the fuel bill** - freshly cast billets are moved directly into the rolling mill while still hot, bypassing the reheating step that conventional mills need. This alone reduces energy consumption by 20-50%, trims greenhouse gas emissions by about 10-20%, saves up to 20% on fuel costs, and lifts productivity by 10-15%. - **A flagship brand with a multi-brand flank** - the premium ‘RUDRA TMX’ bar is made with German Thermex technology, carries ISI and TUV Norde approvals, and comes in grades from Fe500 to corrosion-resistant CRS steel in sizes of 8 mm to 40 mm. Alongside it, the company markets two regional brands - JB 550 TMX and Tridev TMT - under exclusive rights, so it can reach price-sensitive buyers without diluting the flagship. - **Sold through a Gujarat-wide dealer network** - more than 400 dealers stock the bars, and seven company-run “Rudra Infra Mart” outlets bundle TMT with binding wire, pipes, structural steel and even access to architects and contractors, turning a commodity product into a one-stop shop for small builders. - **Capacity is ready; utilisation is climbing** - the billet-making side can produce 2.4 lakh tonnes a year and the rolling mill can match that, but as of mid-2025 the billet division was running at roughly 33% and the TMT division at about 50%. The company expects that switching to captive renewable power will let it ramp up utilisation to 50% in the billet division and 90% in the TMT division, targeting 1.2 lakh tonnes of billets and 2.4 lakh tonnes of finished bars annually. ## 2. Captive renewable energy: the cost-side moat under construction **Energy is the single biggest line on the cost sheet, so the company is building its own wind and solar capacity to lock in a permanent discount to grid power.** - **Wind mills already deliver a 70% saving** - three wind turbines totalling 4.75 MW were installed between 2015 and 2018, and the power they generate for captive use costs roughly 70% less than buying from the grid. As of early 2024, renewables covered about 10% of the factory’s total energy need. - **Solar will follow to hit the 2029 target** - the company plans to add 25-30 MW of solar or equivalent renewable projects, bringing the full renewable initiative to an estimated Rs. 140 crore in capex, 80% funded by institutions and 20% from internal reserves. Management expects the combined captive power setup to contribute roughly Rs. 40 crore to annual EBITDA through cost savings. # Group structure and partners **The company sits inside a family of steel-linked businesses that feed it raw material and sell its output, blurring the line between supplier, customer and sister concern.** - The Rudra Group began in 1991 with a modest re-rolling mill turning out about 1,000 tonnes a month and now spans ship recycling, induction furnaces and re-rolling, with a group-wide turnover of around Rs. 800 crore a year. - Rudra Green Ship Recycling Private Limited, a related party, dismantles vessels at Alang and has recycled more than 80 ships over 26 years, processing roughly 8 lakh tonnes of iron and steel. The company buys scrap and raw material from it and has extended a corporate guarantee of Rs. 88 crore on its behalf. - YSR Building Solutions Private Limited, another related party, promotes and sells the Tridev TMT brand and trades in scrap and finished steel; the company both purchases from and sells to it. - Rudra Aerospace & Defence Private Limited is a wholly owned subsidiary originally set up to pursue precision investment casting for aerospace, defence and medical applications - a project that was paused during COVID-19 and on which studies and research work were underway to reassess the market as of August 2024. - The company’s shares trade on the BSE (Scrip Code: 539226) and, since December 2025, on the NSE under the symbol RUDRA.