Elegant Commerce limited (ECL) is basically a Calcutta based
steel trading and finance leasing company.
- Promoted by Bipin Kumar Vohra, Arjun Kumar Santhalia and
Pawan Kumar Rinwa who have over 15 years experience in the steel industry.
- Total income increased from Rs.0.37 million in 1997 to
nearly Rs.2.31 million in 1999. During the same period, the net profit increased from
Rs.0.01 million to Rs.0.04 million and in the half year ended September 1999, the company
incurred a net loss of Rs.0.02 million.
- ECL is setting up a rolling mill with a capacity of 34,500
tons per annum (tpa) to manufacture bars and 56,250 tons of angles and channels. The
company also has plans to manufacture twisted bars and light structural products at a
capacity of 90,750 tpa. The company had already spent Rs.114 million by September 1999.
- ECL has estimated its working capital to be Rs.105.94
million in 2000, Rs.125.4 million in 2001 and Rs.142.25 million in 2002.
- The company is getting into an industry that is generally
viewed as unexciting. With huge capacities, the company’s market performance is
unlikely to be anything to write home about.
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