'Vraj Iron & Steel Limited' was originally incorporated as 'Phil Ispat Private Limited' as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated June 16, 2004. Pursuant to special resolution passed by the shareholders of the Company at the extraordinary general meeting held on September 29, 2023, the name of the Company was changed to 'Vraj Iron & Steel Private Limited' and a fresh certificate of incorporation pursuant to change of name dated October 30, 2023 was issued by Registrar of Companies, Chhattisgarh. Thereafter, the Company was converted to a public limited company, pursuant to a special resolution passed by the shareholders of the Company at the extraordinary general meeting held on October 31, 2023 and the name of the Company was changed to 'Vraj Iron & Steel Limited' and a fresh certificate of incorporation consequent upon conversion to a public limited company dated November 10, 2023 was issued to our Company by the Registrar of Companies, Chhattisgarh.
The Company is engaged in manufacturing of Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj. The company currently operate through two manufacturing plants which are located at Raipur and Bilaspur in Chhattisgarh spread across 52.93 acres. As of March 31, 2023, the aggregate installed capacity of the companies manufacturing plants was 2,31,600 tons per annum ('TPA') (comprising of intermediate and final products). Our manufacturing plant at Raipur also includes a captive power plant with an aggregate installed capacity of 5 MW, as of March 31, 2023. The company in the process of increasing the capacities of the existing manufacturing plants and captive power plant, which is expected to increase the aggregate installed capacity (comprising of intermediate and final products) from 2,31,600 TPA to 5,00,100 TPA and captive power plants aggregate installed capacity from 5 MW to 20 MW. These proposed expansions are expected to become operational in FY 2024-25.