In less than two decades Shri Bajrang Power and Ispat Limited (SBPIL), incorporated on July 25, 2002, has emerged as one of the leading integrated steel companies in the country. Based in central India, it is also one of the top 10 players in the country in iron ore pellets, iron ore beneficiation and sponge iron production.
SBPIL is a flagship company of the GOEL GROUP, one of the most reputed business houses in central India with a strong presence across many core sectors such as mining, iron & steel, power (thermal & hydro), education, media and frozen foods. Today, the conglomerate earns revenues of over INR 3,000 crore per annum.
The company has maintained a consistent track record of delivering operating profitability since Fiscal 2005. SBPIL currently operates three manufacturing units, which are strategically located in Raipur and Chhattisgarh. The strategic location of the units lowers the transportation costs and provides significant logistics and operational efficiencies.
The company utilises its captive iron mine with an approval to mine 1.2 MTPA and Manganese ore mines to manufacture intermediate and long steel products, such as TMT Bars, ERW Pipes manufactured through tubular section mill, wire rods, HB wires including binding wires, ferro alloys, steel billets, iron pellets and sponge iron.
Mr Narendra Goel is one of the promoters and Managing Director of the company. A commerce graduate from Pt Ravishankar Shukla University, Raipur, Mr Goel looks after the organisational developments and finance of the company. He has been associated with the company since 2003 and has over 27 years of experience in steel industry. He is a great visionary & enthusiast and heads all the new projects of the company. He believes that the industries across our country act as a “CIVILIAN ARMY”. They work tirelessly with ups and downs of the eco-system and generate huge volumes of jobs and imparts skill to the citizens of our country. Industry is ‘soldier without uniform’ for the nation. Industries work hard to keep the wheel of development rolling and they have important role to play in nation building. Despite of the many odds and challenges they have been facing, industries have overcome them and been helping the nation grow. The economic development of any country is decided mainly by the industrial development of the country. Industries also promote globalisation, poverty reduction, social & environmental sustainability, and it is one of the major pillars in nation-building processes.
Steel has contributed immensely towards India’s economic growth. According to the Ministry of Steel, the steel sector contributes around 2% of the country’s GDP and employs around 25 lakh people in steel/allied sectors. As the backbone of the economy, the steel sector continues to play a pivotal role in India’s journey towards the ambitious target to achieve a 371.0 tn economy goal by fiscal 2025.
As on May 31, 2021, SBPIL has captive power generation capacity of 83 MW at its units including 50 MW from waste heat recovery, which allows them to utilise their waste heat from manufacturing into generating electricity thereby minimising the carbon footprint while simultaneously reducing the power and fuel costs. During fiscals 2019, 2020 and 2021 power produced from their captive power plants accounted for 93.90%, 99.06% and 98.77% respectively, of the total power consumed by the manufacturing units.
Further, IAHEPL, a subsidiary of SBPIL, has an installed hydro-power capacity of 36 MW at district Chamba, Himachal Pradesh. Plans are afoot to set up a 50MW solar power plant at Raipur.
“We believe that our integrated operations have provided us with the flexibility to alter our product mix to cater to the continuously evolving market conditions, improves our ability to manage price volatility and optimise our operating margins. Our access to raw materials, ability to manufacture intermediate as well as finished long steel products and captive power helps us to capture large part of value chain for long steel products”, says Mr Narendra Goel. “We will continuously seek to attain operational excellence in our manufacturing process by having a control on production, ensuring premium quality of our products and consistent upgradation in our technology. Our journey will not end here, we will continue to evaluate best practices in our industry and adopt the practices best suited to our company”, he further added.
SBPIL has received various awards such as ‘Sustainable Energy Development Award in 2016’, ‘Energy Efficiency Award 2016’ and ‘Energy Efficiency Award 2015’. The company has also received ‘Gold Certificate — Secondary Steel Sector Award 2016 – 2017’ from the Ministry of Steel, in the composite category of TMT Bars/Wire rods products under DRI-EAF/EIF-RM process route. It has also received recognition from the Ministry of Steel, and the United Nations Development Programme Global Environmental Finance Unit, in 2013, for ‘removal of barriers to energy efficiency improvement in steel re-rolling mill sector in India’ and for being a ‘model unit for energy efficiency interventions’
The company has received 12th Encon Awards, 2019 and 10th Encon Awards, 2017 (Second Runner Up) in the large-scale category for energy conservation from the Confederation of Indian Industry.