Amreli Steels Explained

Amreli Steels Limited
Trade Name:Amreli Steels Limited[1]
Type:Public
Founder:Abbas Akberali (Chairman)[2]
Area Served:Pakistan
Key People:Hadi Akberali (COO)

Kinza Shayan (Director)Mariam Akberali (Director)

Industry:Steel
Products:Rebar[3]
Revenue: (2021)[4]
Net Income: (2021)
Location:Karachi, Pakistan

Amreli Steels Limited is a publicly held Pakistani company which manufactures steel rebars.[5] It is based in Karachi, Pakistan.[6]

History

It was founded in 1972 by Abbas Akberali and is named after Amreli District, Gujarat, India from where their ancestors migrated to Pakistan.[6]

As of 2013, the company's production capacity was estimated to be 150,000 tonnes,[7] which by 2017 had increased to 180,000 tonnes.[8] [9]

In 2018, the company established a new production facility in Dhabeji with a 400,000 tonnes capacity.[10] [11] A strategic goal of the firm has been to be the first Pakistani company to reach annual production of 1 million tonnes of rebar product.[12]

Amreli transitioned from a private to public firm in 2015, when it was listed on the Pakistan Stock Exchange following an initial public offering in October 2015.[9]

Financial Performance

Amreli Steels’ posted Rs1.1 billion total loss for the fiscal year 2020, which resulted in Rs 3.79 loss per share.[13]

Notes and References

  1. Web site: Financials . Pakistan Stock Exchange Limited . ASTL . 13 October 2018 .
  2. Web site: Scions of steel. Anusha. Zahid. February 21, 2019. Aurora Magazine.
  3. News: Amreli Steels' profit slides 16%. . 29 August 2017. The Express Tribune. Karachi, Pakistan.
  4. Web site: ASTL Annual Report 2021. amrelisteels.com. 24 March 2022.
  5. Web site: Amreli Steels okays expansion in melting capacity. April 21, 2017. The Nation.
  6. Web site: Corporate History - Amreli Steels Limited. amrelisteels.com. 2018-01-03. https://web.archive.org/web/20180104013741/http://amrelisteels.com/corporate-history/. 2018-01-04. dead.
  7. Book: OECD . Developments in Steelmaking Capacity of Non-OECD Economies 2013 . OECD Publishing . 2014 . 9789264194380 . 893648930 . Google Books . 347 .
  8. News: Amreli Steels announces joint venture with Chinese company. Zaheer. Farhan. 21 November 2017. The Express Tribune. Karachi, Pakistan.
  9. Web site: Steel is the unchallenged king. Dilawar. Hussain. November 2, 2015. DAWN.COM.
  10. News: Amreli Steels reports 48% surge in profit for FY18 . . 13 September 2018 . The Express Tribune . Karachi, Pakistan .
  11. Web site: Expanding to beat competition. Dilawar. Hussain. December 5, 2016. DAWN.COM.
  12. News: Amreli Steels okays expansion in melting capacity. . 21 April 2017. The Nation. Nawaiwaqt Group.
  13. Web site: Profit. 2020-09-19. Amreli Steels posts first annual loss in a decade. 2020-09-24. Profit by Pakistan Today. en-US.

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