Business
Anil Balaji Steel eyes Odisha, UP expansion; targets Rs 500 crore turnover by 2030
Anil Balaji Steel founder and chairman Anil Kumar Agarwal has said the company plans to establish a presence in Odisha and Uttar Pradesh by 2030 and expand its manufacturing capacity as part of its growth strategy.
Agarwal said the company is on the verge of acquiring factories in the two states to support its expansion plans.
The company plans to invest Rs 200 crore to strengthen its presence in the domestic market and is targeting a turnover of more than Rs 500 crore by 2030.
Balwant Ray Agarwal, Head of Production at Anil Balaji Steel and Viren Agarwal, CEO of Anil Balaji Steel, welcome actor Abir Chatterjee as the new brand ambassador.Photo: Avishek Mitra/IBNS
The announcement was made alongside the unveiling of Bengali actor Abir Chatterjee as the company's brand ambassador.
"Alongside this geographic and manufacturing expansion, we also plan to increase both direct and indirect employment. Our overall manpower strength is expected to grow from 175 to more than 500, while our fabricator network is projected to expand to 50,000 by 2030," Agarwal said.
Agarwal, CEO Viren Agarwal, CFO Vivek Agarwal and brand ambassador Abir Chatterjee also launched the company's website and unveiled the logo of its new business vertical, Fabrica.
Established in 1975, Anil Balaji Steel has expanded its manufacturing capabilities and product portfolio over the past five decades while building long-standing relationships across the market.
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The company's portfolio includes rolling shutter solutions, shutter profiles, components and accessories, MS and GP pipes, GP sheets, GP coils, roofing solutions and fabrication solutions.
The company has continued to strengthen its manufacturing capabilities and market network through its dealer and fabricator base. As part of its expansion strategy, it is further investing in its domestic operations, including expanding its manufacturing facility in Jangalpur, Howrah, while widening its presence across West Bengal and other markets.
Viren Agarwal, CEO of Anil Balaji Steel, said the company was now preparing for the next phase of its growth after completing five decades of operations.
"As we complete five decades, we are looking ahead to the next stage of the company's journey. Our focus is on strengthening our manufacturing capabilities, expanding into new markets and building the organisation for the scale of growth we are working towards," he said.
Balwant Ray Agarwal, Head of Productions of Anil Balaji Steel and actor Abir Chatterjee unveil the website of Anil Balaji Steel. Photo: Avishek Mitra/IBNS
"Our target is to reach Rs 500 crore in turnover by 2030, and the investments planned to support this growth reflect the direction we have set for Anil Balaji Steel. We have plans to raise funds through a Small and Medium Enterprise Initial Public Offering (SME IPO) in three years," Viren Agarwal added.
The company also announced Fabrica, a new initiative focused on functional steel solutions for modern spaces. The vertical will offer turnkey automated gates, pre-engineered buildings, grills, railings, pergolas, cabanas and architectural façade designs.
(Reporting by Aaheli Chakraborty, Images by Avishek Mitra)
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