KIOCL Limited, a flagship Company under the Ministry of Steel, Government of India, with Mini Ratna status was formed in 2nd April 1976. The country’s prestigious Export Oriented Unit having expertise in Iron Ore Mining, Filtration Technology & Production of high quality Pellets has its Corporate office at Koramangala, Bangalore & Pelletization Complex at Mangalore, the coastal city of Karnataka. The annual capacity of the Pellet Plant is to produce about 3.5 Million tons of Iron ore Pellets. Other facilities include Reclaimer to load Pellets directly from Stockyard to vessel. Pellets produced at the Mangalore Plant have excellent metallurgical properties and are an ideal feed for Blast Furnace and DRI Units.KIOCL has to its credit ISO 9001:2008, ISO 14001:2004 & OHSAS 18001:2007 certifications. KIOCL has dedicated and experienced senior level staff having more than 25 years of experience in Operation and Maintenance of Beneficiation and Pelletization Plant. KIOCL has already entered into several O&M works across India. It has entered O&M contract with NMDC for Iron Ore Beneficiation and Pelletization Plant, O&M contract with M/s Orissa Mining Corporation (OMC) to operate and manage 1.4 MTPA Chrome Ore Beneficiation plant at Kaliapani Odisha and had Operated Coke Handling System(Crusher Conveyors) of M/s MRPL, Mangaluru. Under the Make in India initiative of Government of India, KIOCL produced high grade Pellets out of imported high-grade ore procured from Brazil and exported. In order to support and participate in the National Policy on Skill Development of Govt of India, KIOCL has entered into MoU with National Skill Development Corporation and Quess Corporation Ltd an approved NSDC Partner, which envisages conducting training programme for employees, contract workers, local youth, women and disadvantaged groups and employees of other establishments including CPUs on their behalf. The financials of the company looks good, but bottom-line is zig-zag, RoNW is 3.37% and at CMP its looks fully priced. CMP is more than buyback price, so there is no price difference profit and we give AVOID rating to this buyback.
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