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| Company type | Public |
|---|---|
| Traded as | PSX: ISL KSE 100 component |
| Industry | Steel |
| Founded | 2007; 18 years ago (2007) |
| Founder | Towfiq H. Chinoy |
| Headquarters | Karachi, Sindh |
| Area served | Pakistan |
| Key people | Yousuf H. Mirza (CEO) Kamal A.Chinoy (chairperson) |
| Revenue |  Rs. 76.75 billion (US$270 million) (2023) |
| Operating income | Rs. 7.455 billion (US$26 million) (2023) |
| Net income | Rs. 3.518 billion (US$12 million) (2023) |
| Total assets | Rs. 42.391 billion (US$150 million) (2023) |
| Total equity | Rs. 21.683 billion (US$75 million) (2023) |
| Owner | International Industries Limited (56.33%) Sumitomo Corporation (9.07%) JFE Steel (4.74%) |
| Number of employees | 688 (2023) |
| Parent | International Industries Limited |
| Website | isl |
| Footnotes / references Financials as of 30 June 2023 | |
International Steels Limited is a Pakistani company which manufactures cold rolled, galvanized and color coated steel coils and sheets. It is based in Karachi, Pakistan.
History
International Steels was founded by Amir Sultan Chinoy in 2007 as a joint-venture between International Industries Limited, Sumitomo Corporation, and JFE Steel. Its plant was commissioned in 2010 at a cost of $162 million and it had a capacity to produce 280,000 tons per annum of cold rolled coil from hot rolled coil, including 150,000 tons per annum of galvanized steel. The plant is located in the industrial estate of Landhi. The project received $18.40 million loan from the International Finance Corporation which included a convertible loan of $6.4 million.
In June 2011, International Steels was listed on the Karachi Stock Exchange, following an initial public offering at a strike price of PKR 14.06.
In March 2016, International Steel increasing its annual production capacity to over 500,000 metric tons which included 400,000 metric tons of galvanized steel. The project which cost Rs 3.2 billion involved upgrading the cold rolling mill (CCM), adding a second galvanizing line, and establishing a colour coating steel plant.
In June 2018, International Steel commissioned a new plant which further increased its production capacity to 1 million tons per annum.
References
- "Towfiq H. Chinoy, founder International Steel Limited". Business Recorder.
- "International Steels Limited Annual Report 2023". Retrieved 18 May 2024.
- ^ Research, B. R. (2024-02-07). "International Steels Limited". Brecorder. Retrieved 2024-02-09.
- Zahid, Anusha (February 21, 2019). "Scions of steel". Aurora Magazine.
- ^ "Expansion:International Steels plans to boost production capacity". The Express Tribune. 1 February 2017.
- "First IPO after 12 months over-subscribed". DAWN.COM. April 12, 2011.
- ^ "International Steels IFC funding".
- Hussain, Arshad (January 22, 2018). "Aisha Steel Mills Ltd- Yet another business case built on protectionism". Profit by Pakistan Today.
- "International Steel: Trading starts at the Karachi stock exchange". The Express Tribune. June 1, 2011.
- ^ "International Steels Limited expands production to over 500,000MT". Brecorder. March 8, 2016.
- Hussain, Bilal (June 27, 2018). "International Steels' new plant comes on line". The Express Tribune.
- Haris, Danyal (June 28, 2018). "International Steels emerges as biggest cold roller after kick-starting new plant". The News International.
