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Maithan Alloys specialises in the manufacture of the following alloys:

1. Ferro- manganese
2. Silico- manganese
3. Ferro- silicon
These alloys are used in making steel.
.
Managed by Agarwalla family who are in this business for more than
two decades
Possibly the lowest cost manganese alloy manufacturer in the world.
Consistently one of the highest-margin ferro alloy manufacturers
(EBITDA margin 22% in FY2016-17).
Indias largest manganese alloy producer and exporter
Supplying manganese alloys to SAIL, JSW, JSPL for more than seven
years

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Maithan Alloys do not take proprietary positions on raw materials

Cost is lower than most competitors. In the event of a price crash, it is in
a position to match competitor prices without significantly
affecting its viability.
Sales - Domestic: International mix is 50:50.
It shut one of the furnaces for a month to clearly indicate to avoid
working at ridiculously low margins
Operating at optimum capacity (95%). Looking for acquisitions
Will continue to achieve an EBDITA margin of around 15%

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India is among the 10 largest producers of ferro alloys in the world

Two out of three plants have tax-incentives. Vishakhapatnam unit is SEZ

unit.
The substantial increase in EBITDA and PAT were partly due to
rebounding of the metal industry since Q3, powers subsidies announced
by various governments and stabilisation of raw material prices in Q4.

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Mr. B. K. Agarwalla, Chairman cum Whole-time Director, has resigned

on 4th January 2017.
Mr. Aditya Agarwalla , Whole-time Director and Chief Financial Officer,
has also resigned
The other section of the Agarwalla family has taken over these
positions.

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Company has two subsidiaries Anjaney Minerals and AXL Exploration

Private Limited. (to acquire mines, to lease mines, etc) Both are making
loss

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Remuneration of Chairman and WTD:

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No outstanding dues to creditors. Debt has been reduced in FY1617.

Remuneration of directors and KMP is well within the legal limit

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The Company procured more than 85% of its Manganese Ore through
imports FY1617. Prices of Manganese Ore are volatile. Procures at
current pricing and no long-term contract for pricing.
As a policy, No commodity hedging activities. No open position in
commodity futures or options
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Stock prices are volatile when compared to Sensex.

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Exchange risk is mitigated through natural hedging due to companys
exports and imports
Enters into forward contracts to manage foreign exchange risk

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 Erstwhile subsidiary Anjaney Alloys has been amalgamated by
Maithan Alloys.

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