Shyam Steel has announced its plan to expand the retail operations in Punjab and Jammu & Kashmir market. The company will expand the dealer distribution network to increase its retail footprint across both the states. Punjab and Jammu & Kashmir has a huge growth potential for the steel sector and Shyam Steel will aim to be one of the leaders in the primary TMT bar segment across North India.
Commenting on the development, Lalit Beriwala, Director, Shyam Steel said, “We are on a major expansion drive to revamp our retail business operation Pan India. We are starting our expansion with Punjab and Jammu & Kashmir which will be followed by Himachal Pradesh and Haryana. Both Punjab and Jammu & Kashmir has a huge growth potential, and we are looking forward to explore the untapped markets.”
In Punjab, Shyam Steel has started its retail operations in Sangrur, Amritsar, Bhatinda, Ludhiana, Patiala, Moga, Jalandhar, Barnala and Ropar area. In Jammu, Shyam Steel has reached its retail operations in Kathua, Samba, Jammu, Udhampur, Reasi, Rojouri, Poonch, Doda and Ramban area. In Kashmir, Shyam Steel has started the operations in Baramulla, Srinagar, Pulwama, Shopian, Ganderbal and Budgam area. The company aims to cover the both the states in its retail network followed by expansion in other parts of North India. The company will target to create a base of 5000 MTs through 500 retail outlets across North India covering the states of Punjab, Jammu and Kashmir, Himachal Pradesh and Haryana.
Shyam Steel with an annual turnover of Rs 3,000 crores is now on a steady expansion mode braving the disruptions caused by COVID-19 pandemic. The Company, an integral partner of building new India, is committed to meaningfully contribute to the realization of the target of 300 million tonnes steel production by 2030-31. This is in keeping with the National Steel Policy announced by the Government of India towards transforming India into a self-reliant $ 5-trillion economy.
Shyam Steel have also signed Olympic medallists Lovlina Borgohain and Manpreet Singh as their Build India Brand Ambassadors, in addition to Sonu Sood. The brand is also associated with Virat Kohli and Anushka Sharma as the face of the company. The brand associations will help to elevate the brand value of Shyam Steel in the respective markets. The company has also launched Shyam Steel Apna Ghar app to provide consumers hassle-free purchase of TMT bars and to boost the sales of their dealer distributor network.
“Our Shyam Steel Apna Ghar App will also be an added advantage as buying TMT Bars will be hassle free and we will be able to engage with the consumers in a timely manner. The app will also help us to connect with everyone, from dealers, consumers, business partners under one umbrella. Our target is to maximise our reach to the audience and be a part of every household assisting them to build their dream home, added Beriwala.
Shyam Steel has a strong presence in West Bengal, Bihar, Tripura, Assam, Jharkhand, Odisha and Uttar Pradesh and the company will be replicating the same business model to be the top player in overall North India. The company has expanded its retail operations in South India with Andhra Pradesh and Telengana. Shyam Steel is expanding its retail presence in newer markets which are largely untapped and have huge growth potential. The company has also undertaken major brownfield investment for their plant in Mejia to expand the production capacity.
