### **Overview** Mukand Limited, established in 1937, is a leading Indian manufacturer of **specialty steel long products** and **heavy-duty industrial machinery**. As part of the prestigious Bajaj Group—one of India’s top-five business conglomerates by market capitalization—the company benefits from strong institutional backing and a legacy of industrial innovation. Headquartered in Thane, Maharashtra, Mukand operates integrated manufacturing facilities at **Kalwe (Thane)** and **Hospet (Karnataka)**, supporting its dual verticals in steel and engineering. The company serves high-performance, mission-critical applications across **automotive, oil & gas, power, defense, aerospace, construction, shipbuilding, infrastructure**, and **food processing** sectors. With over **89 years of operational history**, Mukand has evolved from a re-rolling unit into a fully integrated producer of alloy and stainless steel, as well as a designer and manufacturer of precision-engineered heavy industrial equipment. --- ### **Core Business Segments** #### **1. Specialty Steel Division** Mukand is a **market leader in India’s specialty steel long products**, producing high-quality **stainless steel and alloy steel** bars, wire rods, billets, bright bars, and rebars. - **Production Capacity & Output**: - **Kalwe, Thane (Stainless Steel):** Annual melting capacity of **180,000 metric tons**. In FY 2023–24: **150,901 MT** of stainless steel produced. Product range includes austenitic (304, 316, 2205), ferritic, martensitic, and duplex stainless grades. - **Hospet, Karnataka (Alloy Steel):** Produces alloy steel products using **in-house sourced blooms and billets**, ensuring full supply chain control. In FY 2023–24: **358,225 MT** of alloy steel produced. Total group steel production reached **509,126 MT**—a 0.15% YoY increase. - **Key Applications**: - **Automotive:** Gears, axles, crankshafts, connecting rods, transmission shafts, suspension springs, fasteners. - **Oil & Gas, Marine & Aerospace:** High-strength, corrosion-resistant materials used in extreme environments. - **Power & Nuclear:** Materials for reactors and turbines requiring high durability. - **Food & Beverage:** Hygienic, non-reactive stainless steel complying with safety regulations. - **Construction & Architecture:** Rebars, structural components, and high-aesthetic-finish materials. - **Customization & Innovation**: - Mukand develops **specialized steel grades** tailored for global OEMs: - **51B40, 10B33Cr** for KPF fasteners. - **SAE 8319** for GKN hypoid gears. - **42CrMoS4-AT** for Scania vehicle brackets. - **55SiCr63** (low titanium spring steel), **303B** for Bosch fuel injection pumps. - Import-substitute grades: **100 Cr 6BS, 12L14 with Low Si, SAE 1552, ER309L**, reducing customer dependence on foreign steel. - **Strategic Initiatives (as of 2025)**: - Expanding into **downstream value-added steel products** for aerospace, defense, and precision engineering. - Focus on **special steel grades** for next-gen vehicles and high-end applications. - Improving **raw material procurement efficiency** to navigate global volatility. - **Capacity utilization** at downstream rolling mills being optimized to enhance productivity and operating leverage. - Transitioning toward **sustainable manufacturing** via renewable energy integration and green production practices. --- #### **2. Industrial Machinery Division (IMD)** The IMD, based at the **Kalwe facility in Thane**, has over **60 years of experience** in designing and manufacturing **precision-engineered heavy machinery**. - **Key Products**: - **Electric Overhead Travelling (EOT) Cranes** - **Gantry Cranes** - **Level Luffing Cranes** - Custom material handling systems - Turnkey **Coke Dry Quenching (CDQ) systems** - Special-purpose equipment for mission-critical operations - **Recent Milestones (FY 2024–25)**: - Delivered **Asia’s first 91-meter span EOT crane** with **dual 100-tonne lifting capacity**, installed via **Strand Jack method** in collaboration with a global engineering partner. - Secured **first export order from the USA** for a **40-ton, 113-foot span EOT crane (140 tonnes in weight)** for magnet handling—meeting stringent American engineering standards. - Developed an **innovative EOT crane with a moving operator cabin**, enhancing safety, ergonomics, and operational flexibility. - Supplied **Coke Dry Quenching (CDQ) system and Coke Bucket** to a major steel plant—showcasing capability in **energy recovery and green technology**. - **Customization & Engineering**: - Offers **end-to-end solutions** from design, engineering, manufacturing to erection, commissioning, and after-sales support—a rare full-cycle capability in India. - Provides **fully customized, tailor-made equipment** for sectors like **steel, power, shipbuilding, defense, railways, ports, cement,** and **infrastructure**. - **Clients & Projects**: - Served **ISRO** with specialized equipment for India’s space program. - Delivered machinery to **government agencies, PSUs, private enterprises**, and port operators. - Contributed to **nationally significant infrastructure projects**. - **Financial Performance (IMD)**: - Revenue: **₹260 crore in FY 2024–25** (up from ₹221 crore in FY 2023–24), driven by demand for customized solutions. - Strong order book with new contracts from steel and engineering sectors. - **Technology & Modernization**: - Investing in **Industry 4.0 technologies**, including **design automation, digital engineering tools, and process optimization**. - Focus on **safety, sustainability, skill development**, and **project management excellence**. --- ### **Strategic Position & Differentiation** - **Dual-Capability Advantage:** One of the few Indian companies operating at scale in both **specialty steel** and **heavy industrial machinery**. - **Vertical Integration:** In-house billet sourcing for alloy steel ensures quality, cost control, and supply chain resilience. - **Customization Leadership:** Deep technical expertise enables development of **application-specific steel grades** and **engineering solutions**. - **Global Reach:** Expanding exports in stainless steel and machinery; presence in international markets via trade fairs (e.g., Düsseldorf). - **Sustainability Focus:** Sustainable production practices, recyclable materials (especially stainless steel), and investments in renewable energy. --- ### **Joint Ventures & Associate Companies (as of Jul 2022)** Mukand holds strategic stakes in several key entities: | Entity | Ownership | Business | |--------|---------|--------| | **Mukand Sumi Special Steel Ltd. (MSSSL)** | 21% | Alloy steel rolling & finishing | | **Mukand Sumi Metal Processing Ltd. (MSMPL)** | 51% | Cold-finished bars & rods | | **Hospet Steels Ltd. (HSL)** | 39% | Management company | | **Mukand Vini Mineral Ltd. (MVML)** | 49.01% | Mining | | **Mukand Engineers Ltd. (MEL)** | 36.11% | Engineering, construction, ITES | | **Bombay Forgings Ltd. (BFL)** | 33.17% | Forging solutions | | **Stainless India Ltd. (SIL)** | 48.30% | Stainless steel products | - **Subsidiaries**: Mukand Global Finance Limited, Mukand International FZE. --- ### **Historical Significance & Recognition** - First Indian steel supplier **approved by Maruti** (1980s) and **Hero Honda**. - **First supplier approved** by most major automobile manufacturers in India. - Recipient of **Best Supplier Awards** from global OEMs such as **SKF, Bosch**, and other Tier 1 manufacturers. - Pioneered **import substitution** in specialty steel, helping auto component makers reduce reliance on foreign materials.