Monolithisch India Aims for Dominant Market Share Amid Capacity Expansion

Monolithisch India Ltd is targeting a 30% market share in the premixed ramming mass industry within a few years. The company aims to expand its capacity to 5.74 lakh tonnes per annum, leveraging the booming secondary steel sector. Recent IPO funds will support machinery upgrades and new projects.

Monolithisch India Ltd, a key player in the manufacturing of premixed ramming mass, is steering towards capturing up to 30% of the market in the near future, according to Managing Director Harsh Tekriwal.

The premixed ramming mass industry is on an upward trajectory, with demand predicted to reach nearly 5 lakh tonnes monthly. The company went public in June and is undertaking significant expansion efforts to boost its capacity to 5.74 lakh tonnes per annum within a year, Tekriwal informed PTI.

Ramming mass serves as a lining material for induction furnaces in the secondary steel sector. As the secondary steel industry in India accelerates, Monolithisch India is positioned for growth with its ongoing capacity expansion and recent investments, including a greenfield project in Purulia.

(With inputs from agencies.)