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Marmagoa Steel Ltd. Company History and Annual Growth Details

The Company was incorporated on 17th July, 1987 and obtained the Certificate of Commencement of Business, on 10th February, 1989 from the Registrar of Companies, Goa, Daman & Diu at Panaji.

The main promoters are Sarvashri N V Hegde, Madhav G Poy Raiturcar and V.S. Bhandary. Shri Hegde is the promoter of a number of companies comprising the Lamina Group of Industries. The flagship company, Lamina Suspension Products Ltd was started in 1977 and along with Lamina Engineering Company, is today one of the leading manufacturers of Automotive Leaf Springs. Lamins Foundries Ltd., another venture of the group is a fully automated Grey Iron Foundry manufacturing automotive brake drums and other thin walled Industrial castings. The present turnover of the group companies is around Rs 30 crores. The automotive leaf springs and brake drums command a good export market in developed countries like U.S.A., U.K. and Germany Besides.

The Company does not have any subsidiary at present.

Economic Development Corporation (EDC) of Goa is Participating in the Promoter's Equity capital to the extent of Rs 75 lakhs. EDC is a state owned undertaking engaged in promoting and financing industries in the State of Goa.


- Marmagoa Steel Ltd has informed that the Board of Directors of the Company at its meeting held on June 29, 2007, has appointed Mr. K V Ramrathanam as an Independent Director on the Board of the Company.