Shares of BMW Industries Ltd skyrocketed around 12% on Wednesday, 21 May, on securing an order worth Rs 365 crore from Tata Steel. 

According to a stock exchange filing, the business, along with its wholly-owned subsidiary BMW Iron & Steel Industries Ltd, has received work orders worth Rs 364.69 crore from Tata Steel for converting hot rolled (HR) coils into tubes.

BMW Industries said the contracts are valid until 31 October, 2027 and would be executed at the company’s sites in Hazibagan, Howrah, and Jamshedpur.

BMW Industries Ltd received Rs 188.60 crore of the total order value, while BMW Iron & Steel Industries Ltd was granted Rs 176.09 crore. The scope of work comprises slitting and converting HR coils to tubes.

The orders will be fulfilled utilising existing infrastructure, with the goal of optimising operational efficiency and asset utilisation. These engagements come within the normal course of business and are expected to add to the company’s revenue over the contract duration.

Harsh Bansal, Managing Director at BMW Industries Ltd, said, “As one of the leading players in the steel industry, Tata Steel has set benchmarks in quality, innovation, and sustainability. Their continued trust in us through this extended order is a strong endorsement of our capabilities as a processing partner.”

Harsh added, “We take pride in supporting a company of Tata Steel’s stature and legacy. In the past week, we were honoured with the renewal of our contract for the CRM complex till 2029, valued at Rs 1,764 crore.”

BMW Industries is developing its Rs 803.47 crore Greenfield Downstream Steel Complex project in Bokaro. The factory will produce high-quality speciality steel, including coated and Al-Zn coated (Galvalume) products, for both domestic and international markets.

At 1.25 pm, the shares of BMW Industries were trading at Rs 55.07, up 2.93%.

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