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In a regulatory filing made during market hours today, the company said that the Chhattisgarh Environment Conservation Board has granted the company its "consent to operate" the enhanced Sponge Iron Division (SID) at the company's Siltara Industrial Area plant in Raipur, Chhattisgarh.
This approval will allow the company to increase its Sponge Iron production capacity from 495,000 metric tons per annum (MTPA) to 594,000 MTPA.
Godawari Power & Ispat is the flagship arm of Chhattisgarh-based Hira Group of Industries. The company has two captive iron ore mines, pellet plant and a vertically integrated steel plant in Raipur. The steel plant manufactures sponge iron, billets, MS rounds, HB wires, ferro alloys and pre-fab structures.
The company’s consolidated net profit declined 38.05% to Rs 159.12 crore on 1.82% decrease in revenue to Rs 1,267.57 crore in Q2 FY25 over Q2 FY24.
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