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Monolithisch India Limited has successfully secured a Quartzite Stone Block in Nawada District, Bihar, through an e-auction conducted by the Mines and Geology Department, Government of Bihar

This acquisition is the company’s largest strategic milestone since inception.

Key Points:

• Allotment Terms & Tenure: Allocated for a period of 5 years at a winning bid of ?157 crore

• Approved Capacity: The Government of Bihar has auctioned this with a mining capacity of 7,10,000 MT per annum, a cumulative capacity of 35,50,000 MT over the 5-year lease term. This capacity will strengthen our raw material security and hedge raw material rates for 5 years, at a time when the Company is significantly expanding its silica ramming mass manufacturing capacity, with consolidated group capacity expected to reach 5,76,000 MTPA.

• Quality: The company has a long-established relationship with the ore quality and is known for its bulk density expertise.

Commenting on this milestone, Mr. Harsh Tekriwal, Managing Director of Monolithisch India Limited, said:

“I am proud to announce that our backward integration is complete, with surplus raw material capacity, securing our needs that were supposed to grow rapidly with the commencement of our new greenfield project. The company is a major supplier of domestic integrated secondary steel clusters, especially in eastern and central India. This strategic move will significantly strengthen our competitiveness in quality and cost in the coming years. It is very encouraging that this development coincides with the commencement timeline of our greenfield project. This milestone is expected to help the company achieve optimum capacity utilization at its greenfield project

ahead of schedule.

Further, he added that this allotment marks a major turning point in the company's journey. This Flagship block belt was operational from 2015-2020, and the ore in this block was highly sought after by secondary steel cluster customers for its quality and consistency. This was the premier source of raw material, and its closure provided manufacturers from the western region with entry, to some extent. With direct control over this flagship block belt, the quality of our entire product portfolio will largely improve, and we will be able to manufacture the product at a much lower cost. This allotment will also accelerate the development of new products based on ore behaviour from a single, consistent supply source. This acquisition is only the first step in our next phase of growth; we will pursue similar initiatives to secure raw materials before launching new product verticals."

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