Equity Research Report - BSRMLTD

RIL Company Analysis – BSRMLTD

Nahida HabibPosted by

Bangladesh Steel Re-Rolling Mills Limited (BSRMLTD) is the oldest steel re-rolling mill in Bangladesh. They began their journey with four manual rolling mills in 1952 as the first-ever steel mill in Bangladesh. Today, Bangladesh Steel Re-Rolling Mills Limited (BSRMLTD) is the largest merchant steel re-rolling mill in Bangladesh.

 

BSRMLTD is capable of producing high-quality Reinforcing Steel and other steel products such as Channel, Angle, Square-Bar, etc. They have introduced another product “BSRM Centura”, a coated rebar that resists Chloride induced corrosion and prevents rusting. As they started commercial operations on December 09, 2015, after BMRE, their production capacity has reached 750,000 M. Ton. Recently, they have introduced the most modern steel products called Xtreme B500 DWR which is in fact a revolution in the steel industry in Bangladesh. BSRMLTD owns another unit called “Steel Melting Works (SMW)” which produces Billets for BSRMLTD with a capacity of 150,000 M. Ton per annum.

BSRMLTD stands atop as the market leader, accounting for about 25% of the total market share amongst other players in the market, like AKS, KSRM, GPH Ispat, and RSRM.  Presently, BSRMLTD is holding 31.19% shares of its associate company BSRM Steels Limited and 44.97% shares of its subsidiary company BSRM Steel Mills Limited. In addition, BSRMLTD has another subsidiary company BSRM (Hong Kong) Limited which is based in Hong Kong. The Company has also invested in BMS Steel Limited, a Joint Venture Company situated in Kenya. BSRMLTD currently holds an 18% share of the Company. This Company will produce & supply MS Steel products.

The current price of BSRMLTD is 117.40, which is overvalued compared to its intrinsic value. So, there may be higher potential in terms of growth.

To download the full report click on – RIL Company Analysis – BSRMLTD

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