Steel City Security Limited to expand base
After witnessing the success in IPO, the Visakhapatnam based listed company Steel City Security Limited (SCSL) is now focusing on expanding its wings pan India. Company has mobilized Rs.27 crores through recent IPO. “Now we are spending about Rs.15 crores to increase the e-governance centres and upgrading the technology,” Mr. Satish Kumar Arya, Director, SCSL, told Vizag Industrial Scan.
“e-governance business is fetching more revenue to the company now a days, so keeping this in mind we are enhancing the centres with latest facilities and with high speed broadband across the country” he revealed. As of March 2017 company was having only about 2200 e-governance centres in 1000 cities across the 33 states, and company’s vision is to touch 7000 centres mark by next 12-18 months, he said.
The Company has been providing about 13 facilities, like PAN, Aadhaar, GST through these e-governance centres. Now, after the implementation of GST from July 1st these centres will be expecting more revenue, he said. During last fiscal SCSL has earned about Rs.5.95 crores revenue through e-governance centres, this year company is expecting 80 to 100 per cent growth due to increase of centres and adding of new service like GST.
Apart from e-governance services SCSL has been operation about 320 branches across India for trading business and SCSL is the member both in BSE and NSE besides commodities trading exchange.
Company has earned a net profit of Rs.5.2 crores during last fiscal and declared 20 per cent dividend. After IPO company’s net worth is about Rs.72 crores and market cap has at Rs.90 crores. SCSL offered its shares to public at Rs.55 each (Rs.10+ Rs.45 premium), now it has trading at between Rs.60-62.
For more information contact: Mr. Arya,