Mumbai, April 16 -- The Board of Gallantt Ispat at its meeting held on 16 April 2025 has approved capex of Rs 1,014.98 crore for capacity addition at its integrated steel plants at Gorakhpur and setting up of captive solar power plant. The total project capex will be funded through internal accruals without borrowing any debt.

The expansion in capacities are brownfield expansion projects and expected to be completed by March 2026.

The approved expansions will increase the company's steel billet capacity from 528,000 metric tons (MT) to 800,250 MT, rolling mill capacity from 528,000 MT to 805,200 MT, sponge iron capacity from 544,500 MT to 560,000 MT, and pellet capacity from 792,000 MT to 990,000 MT.

Further, the company proposes to ex...