Ashoka Metcast Limited gives the following update with regards to its wholly owned Subsidiary Rhetan Rolling Mills Private Limited (Formerly known as Shree Ghantakarna Rolling Mills Private Limited)

1. Civil work of the steel rolling mill owned by Rhetan Rolling Mills Private Limited situated at Karannagar, Kadi is complete.

2. The Company has installed a state of artfully automatic steel rolling mill with an installed capacity of 30,000 tons per annum in place of revamped and refurbished old plant (installed capacity of 18,000 tons per annum) as was planned earlier.

3. Fully automatic steel rolling mill required enhanced power supply. As such the matter was taken up with Uttar Gujarat Vij Company Limited (UGVCL) to release 1500 KVA of power load at the factory in place of 475 KVA as was planned earlier. After meeting the regulatory requirements and procedures as needed, 1500 KVA of power load had been sanctioned and released at the factory.

4. The plant was enhanced installed capacity and well equipped to meet the challenges of a current market condition is now almost ready to start commercial production. The commercial production has been delayed due to the change of machineries as per para 2 above and release of additional power load as mentioned in para 3 above and now the commercial production expected to start by end of march 2019.