Bombay Coated and Special Steels Limited
Bombay Coated and Special Steels is a steel processing centre that converts steel coils into value-added processed products for OEMs and ODMs across home appliances, automotive, and electrical equipment sectors.
Overview
About the Company
Bombay Coated and Special Steels Limited was incorporated in December 2019 and operates as a steel processing centre. The company converts steel coils into value-added processed steel products for Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs). Its processing capabilities include precision slitting, cut-to-length processing, shearing and embossing to manufacture slit coils, embossed slit coils, blanks, embossed blanks and sheared blanks. The company serves multiple end-use industries including home and commercial appliances, automotive and auto components, electrical equipment, pharmaceutical cleanroom infrastructure, ventilation systems and general engineering. It operates four strategically located manufacturing facilities at Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan, and Sri City in Andhra Pradesh, covering an aggregate area of 42,209 square metres. The company holds an authorised service partnership with JSW Steel Coated Products Limited since 2021, ensuring regular access to steel coils. As of June 30, 2026, the company had an installed processing capacity of 1,23,153 metric tonnes per annum.
Company Details
📋 Objects of Issue (Use of Proceeds)
- › Repayment or pre-payment of certain borrowings availed by the company: ₹125.00 crores
- › Financing the cost towards acquisition of capital equipment under existing lease arrangements with Siemens Financial Services Pvt. Ltd.: ₹15.77 crores
- › General corporate purposes: ₹42.29 crores
✅ Strengths
- ✓ Authorised service partnership with JSW Steel Coated Products Limited ensures reliable raw material supply
- ✓ Strategically located manufacturing facilities provide efficient logistics and delivery capabilities
- ✓ High-precision manufacturing infrastructure meeting strict customer specifications
- ✓ Long-standing relationships with leading OEM and ODM customers across diversified sectors
- ✓ Integrated steel processing capabilities with diverse value-added processing across multiple locations
- ✓ Growing processing capacity with aggregate installed capacity of 1,23,153 metric tonnes per annum
⚠️ Risks
- ! High debt-to-equity ratio of 2.00 restricts financial flexibility through stringent covenants
- ! Substantial reliance on JSW Steel Coated Products Limited for sourcing primary raw materials
- ! Significant revenue concentration among the top ten key customers
- ! Susceptibility to price volatility and potential disruptions in steel coil supply
- ! Strong dependence on the cyclical home and commercial appliances sector for majority revenue