Tata Metaliks has recorded net profit of Rs 64 crore for 2004-05, up from Rs 24.81 crore in 2003-04. Net sales turnover stood at Rs 283 crore, compared to Rs 143 crore the previous year. Speaking to newspersons, Dr T. Mukherjee, Chairman, said that the company had already doubled its annual pig iron manufacturing capacity to 320,000 tonnes. With the expanded capacity going on stream, the company's share of the domestic market for pig iron would be around 25-27 per cent, he added.

The company is also considering setting up a steel billets manufacturing plant near its existing plant site at Kharagpur. The proposed plant would have a manufacturing capacity of 500,000-800,000 tonnes per annum. The technology being considered for the proposed project has been developed "by an Indian entrepreneur in India". Dr Mukherjee, however, refused to indicate the investment that would be made in the proposed billet plant since a decision on whether new or second-hand equipment would be installed in the plant was yet to be taken.

According to him, the time was ripe for investment in the steel and allied sectors because of the growing demand for steel. With the growth rates in China and Asian countries, the demand for steel would continue and prices would remain stable. Tata Metaliks, which sold 163,000 tonnes of pig iron last fiscal, is upbeat about its growth prospects both in the domestic and export markets.