Facor Alloys Ltd

Incorporated in 2004, Facor Alloys Limited is the largest producers and exporters of Ferro Alloys, an essential ingredient for manufacture of Steel and Stainless Steel. The Company is a manufacturer of carbon, alloy, stainless and special steel. It operates in steel product segment. Besides, it is also engaged in conversion of High Carbon Ferro Chrome and Silico Manganese. The Company's products include stainless steel, alloy steel, valve steel, free cutting steel, semi free cutting steel, silico manganese steel, carbon manganese steel and carbon steel. Stainless steel includes austenitic stainless steel, martensetic stainless steel, ferritic stainless steel, heat resisting steel, valve steel, duplex steel and precipitation hardening. Shri Durgaprasad ji Saraf the Promoter, took the initiative and pioneered in manganese ore mining and commissioned 3 submerged electric arc furnaces of 7.5MVA each in Garividi, Vizianagaram District, 85 KM north of Visakhapatnam in Andhra Pradesh. Subsequently, the Company commissioned the fourth submerged arc furnace of 12MVA, for production of HC Ferro Chrome and an open arc slag furnace of 8MVA for production of LC Ferro Chrome. The Company indigenously developed its own technology and commissioned the 16MVA submerged arc furnace for the production of HC Ferro Chrome in 1981. It has currently an installed production capacity of 72,000 tons per year.Apart from this, the Company has supporting facilities such as 132/11 KV main receiving sub-station and has a sanctioned load connection of 40 MVA from APEPDCL, Vizianagaram. The furnaces are equipped with individual Bag Filter type Pollution Control systems in order to maintain a clean environment in and around the Industry. Additionally, required facilities for beneficiation and agglomeration of Chrome Ores, a mechanized briquetting plant as well as a Metal Recovery Plant to extract the valuable metallic from slag-metal mixers have also been set up. In April 2011, the Company acquired BEC Power Pvt. Ltd. A change in the top management was affected during the year, with the new leadership assuming charge from 9th April 2024. Since then, the management has been actively evaluating all possible avenues for revival, including strategic collaborations, financial restructuring, and alternative business models. During the financial year ended 31st March 2025, the Company's manufacturing operations remained fully suspended, following the shutdown of its plant effective from 31st October 2023. As a result, there was no production activity during the year 2024-25. While the broader domestic steel sector experienced demand growth, the operating environment remained challenging, particularly for standalone and mid-sized producers, due to elevated input costs, pricing pressure arising from increased imports, and limited access to working capital. These external challenges, coupled with the Company's financial and operational constraints, rendered the resumption of production unviable during the financial year. Company has initiated the monetisation of its assets, pursuant to the approval obtained from shareholders on 10th July 2025.