Industries
Steel, cement, chemicals, auto ancillary, textiles, sugar, ethanol and paper.
Sector overview
Plant and machinery is where the practice began. The founder is a chemical engineer who spent his early career designing and commissioning reactors, tanks and heavy equipment, and the plant and machinery team is built from engineers who inspect every furnace, mill and utility themselves.
Steel assignments include the Khopoli works of Uttam Galva Steels (12 lakh MTPA cold rolling, 7.5 lakh MTPA galvanising, 1.65 lakh MTPA colour coating), SBQ Steels at Nellore with its sinter plant, mini blast furnace, coke oven, DRI unit and 45 MW captive power, the four ISMT plants in Maharashtra valued for ARCIL, Viraj Profiles’ 1,80,000 MTPA stainless-steel plant, and TEV studies for Topworth’s DRI, SMS and rolling-mill expansions at Umred and Durg. Beyond steel, the team has valued Ess Dee Aluminium’s plants in West Bengal, Goa and Daman and Sintex BAPL’s automotive plastics facilities.
Industry challenges
Commodity margins compress faster than debt schedules adjust. We test capacity utilisation and spread assumptions against the plant’s own operating history and current regional benchmarks, not the promoter’s forecast.
Imported lines carry technology, spares and warranty exposure that domestic benchmarks miss. We assess the process route, vintage and vendor support of each major unit before accepting its value or remaining life.
Inventory and receivable cycles in metals and chemicals can absorb more funding than the fixed assets. TEV studies size working capital from the actual order-to-cash cycle.
In restructuring and IBC cases the question is what it costs to restart, not what the plant cost to build. Our engineers inspect the furnace, mill and utilities and report condition, restart capex and realisable value separately.
Our solutions
Viability of new and expansion capacity, from DRI and steel-melting shops to rolling mills and downstream lines, with process-route review.
Learn moreLand, building and plant & machinery valuation by engineers who have commissioned the equipment they inspect, with residual-life certification for restructuring.
Learn moreIndependent vetting of capital-cost estimates and Chartered Engineer certificates for banks, customs and regulators.
Learn moreTrack record
| Client | Plant | Service | Value |
|---|---|---|---|
| ISMT Limited (for ARCIL) | Four plants in Maharashtra | Valuation | ₹1,268 Cr |
| Crest Steel and Power, Durg | Integrated steel plant | IBC valuation for the resolution professional | ₹571 Cr |
| Maithan Ispat, Odisha (for State Bank of India) | Steel plant | Valuation | ₹215 Cr |
| Uttam Galva Steels, Khopoli (for State Bank of India) | 12 lakh MTPA cold rolling, galvanising, colour coating and tube mill | Valuation | |
| SBQ Steels, Nellore (for State Bank of India) | Sinter plant, mini blast furnace, coke oven, DRI, SMS, rolling mill and 45 MW captive power | Valuation | |
| Viraj Profiles (for State Bank of India) | 1,80,000 MTPA stainless-steel plant | Lenders’ Engineer report | ₹315 Cr |
| Topworth Steels and Power, Durg | 1,65,000 MTPA DRI, 3,60,000 MTPA SMS and structural-steel mills | TEV report | |
| Aparant Iron and Steel, Goa | 1,60,000 TPA mini-blast-furnace plant | IBC valuation | ₹72 Cr |
In numbers
Valuation or project cost in ₹ crore as recorded in the engagement.
Case study
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