Gallantt Ispat Limited has informed the Exchange regarding Board meeting held on April 16, 2025.
GALLANTT · price
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On the reaction day the stock moved 2.9 pts more than Nifty Smallcap 250 and 3.4 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Directors of Gallantt Ispat, at its meeting on April 16, 2025, approved a brownfield expansion of its integrated steel plant in Gorakhpur, Uttar Pradesh. The expansion will increase capacities across Steel Billets (from 5,28,000 MT to 8,05,200 MT), Sponge Iron (from 7,92,000 MT to 9,90,000 MT), Pellets (from 78 to 100 units), Rolling Mill (from 5,28,000 MT to 8,05,200 MT), and Captive Power Plant (from 78 MW to 100 MW). Additionally, a new 22 MW Captive Solar Power Plant will be set up. Total capex approved is Rs. 1,014.98 Crores, to be funded entirely through internal accruals with no debt. The project is scheduled for completion by March 2026.
This is a large debt-free capex announcement that signals management's confidence in growth and strong internal cash generation. Shareholders may view this positively as it expands future revenue potential, though execution risk and capital absorption remain key things to watch over the next 12 months.