Mukand

What Mukand does

Mukand Limited, founded in 1937 and headquartered in Mumbai, is a publicly-listed (BSE/NSE: MUKANDLTD) specialty steel and heavy machinery manufacturer operating under the Bajaj Group. The company runs three integrated divisions: a Steel Division producing over 450 grades of alloy steel (blooms, billets, wire rods, round bars, bright bars) at a 600,000+ MTPA facility in Hospet, Karnataka and 180,000+ MTPA of stainless steel at Kalwe, Maharashtra; a Machine Building Division manufacturing custom EOT cranes, gantry cranes, port cranes, and bulk material handling equipment; and an Engineering Construction Division providing design-procurement-project management-construction-commissioning services across steel, power, cement, infrastructure, and oil & gas sectors. Mukand pioneered continuous billet casting, Vacuum Oxygen Decarburization (VOD), and Top & Bottom Blown Oxygen converter technology in India and is the only domestic producer of nuclear-grade stainless steel for the Kalpakkam Nuclear Power Station.

The company monetizes primarily through B2B hardware sales of custom-engineered specialty steel and heavy machinery under quote-based, multi-year enterprise contracts, supplemented by professional services revenue from engineering construction projects. Its go-to-market is direct enterprise field sales targeting automotive OEMs (including Japanese automakers), government/defense entities (ISRO, SAIL, NTPC, Visakhapatnam Port Trust), and industrial customers in aerospace, power, nuclear, and infrastructure, with export reach across 20+ countries. Mukand holds IATF 16949, ISO 9001/14001/45001/50001, and PED certifications, and recently secured Government of India Green Steel certification (2026) backed by a 43.75 MW captive solar partnership with Tata Power Renewable Energy meeting ~70% of power needs. The Sumitomo Corporation holds a 49% stake in the alloy steel JV (MSSSL), formed in 2018.

Name

Mukand

Legal name

Mukand Limited

Website

https://mukand.com

Company type

Public

Founded year

1937

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Mukand Limited is a Bajaj Group specialty steel and heavy machinery manufacturer producing 450+ grades of alloy and stainless steel long products plus custom EOT/gantry/port cranes, serving automotive, defense, aerospace, power, nuclear, and infrastructure customers across 20+ countries.

Ownership category

akta.pro rank

Product category

Specialty Steel and Heavy Machinery Manufacturing

NAICS

Overhead Traveling Crane, Hoist, and Monorail System Manufacturing (333923), Iron and Steel Mills and Ferroalloy Manufacturing (331110), Steel Product Manufacturing from Purchased Steel (3312)

SIC

Metalworkg Machinery & Equipment (3540), Construction, Mining & Materials Handling Machinery & Equip (3530), Fabricated Structural Metal Products (3440)

akta.pro primary industry

Specialty & Alloy Steel (Stainless, Tool Steel, Electrical Steel, High-Strength/HSLA) (IMAKABAJ)

akta.pro secondary industries

Crane & Hoist Components (Wire Rope, Chain, Drums, Sheaves, Motors, Controls) (IMAHAJAK), Heavy Lifting & Material Handling Infrastructure (Goliath Cranes, Jib Cranes, Hoists) (IMAJALAD)

Keywords

• Specialty steel products
• Heavy machinery manufacturing
• Stainless steel production
• Alloy steel manufacturing
• Industrial crane manufacturing

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Specialty Steel Products: Manufacture and sale of specialty steel long products including alloy steel (over 450 grades) and stainless steel (wire rods, round bars, bright bars) serving automotive, defense, aerospace, power, nuclear, and industrial sectors
2. Heavy Machinery Manufacturing: Design, manufacturing, supply, erection, commissioning, and after-sales service of custom heavy machinery including EOT cranes, gantry cranes, port cranes, and bulk material handling equipment
3. Engineering Construction Services: Engineering services including design, procurement, project management, construction, and commissioning across steel, power, cement, infrastructure, oil & gas sectors

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Mukand manufactures and sells specialty steel long products (alloy steel in 450+ grades and stainless steel in 400+ grades) including wire rods, round bars, bright bars, blooms, and billets, alongside custom heavy machinery such as EOT cranes, gantry cranes, port cranes, and bulk material handling equipment. The company also delivers engineering construction services covering design, procurement, project management, construction, and commissioning across steel, power, cement, infrastructure, oil & gas, defense, and nuclear sectors.

Product overview

Mukand Limited operates as a multi-division, multi-product conglomerate under the Bajaj Group, comprising three main business divisions: Steel Division (specializing in Alloy Steel and Stainless Steel long products including wire rods, round bars, and bright bars), Machine Building Division (manufacturing custom heavy machinery including EOT cranes, gantry cranes, and port cranes), and Engineering Construction Division (providing end-to-end engineering services). The company produces over 450 grades of specialty steel products and heavy machinery equipment serving automotive, aerospace, defense, power generation, nuclear, construction, and infrastructure industries globally.

Differentiator

Problem solved

Functional benefit

Brands

• Mukand Engineers: Engineering Construction Division providing design, procurement, project management, construction, and commissioning services across steel, power, cement, infrastructure, and oil & gas sectors.

Products and services

• Alloy Steel Specialty alloy steel products including over 450 grades manufactured through integrated processes using Mini Blast Furnace, Energy Optimising Furnace, Ladle Refining Furnace, and Vacuum Degassing. Products include blooms, billets, wire rods, round bars, bright bars, and wires for automotive, manufacturing, energy, and power generation industries.
• Stainless Steel Stainless steel long products with 180,000 tonnes per annum capacity. Produces wire rods, round bars, and bright bars in over 400 specialty grades for aerospace, automotive, engineering, power generation, and nuclear applications. Features VOD process and is the only Indian manufacturer supplying Nuclear-Grade Stainless Steel for Kalpakkam Nuclear Plant.
• Stainless Steel Bright Bars Precision-engineered stainless steel bars with bright, smooth surface finish. Size range from 5mm to 180mm diameter, available in cold drawn, peeled, and centreless ground finishing conditions. Used in automotive, aerospace, engineering, and precision machined components.
• Stainless Steel Wire Rods Semi-finished stainless steel wire rods produced in size range of 5.5mm to 75mm through controlled hot rolling. Used as base material for wire drawing, fasteners, springs, welding electrodes, and precision-engineered components for automotive and engineering industries.
• EOT Cranes Electric Overhead Traveling Cranes for heavy-duty material handling in steel plants, manufacturing, and warehouses. Capabilities include single and double girder designs, with capacities ranging up to 500 tons, customized for specific industrial applications.
• Gantry Cranes Heavy-duty gantry cranes supported by legs on tracks for outdoor and large-scale material handling. Used in ports, shipyards, construction, and steel manufacturing with capacities ranging up to 500 tons. Includes single and double girder designs with customization options.
• Port Cranes Specialized cranes for port and shipyard applications including shipyard cranes, level luffing cranes, and grabbing cranes. Designed for loading/unloading containers and cargo at harbors and large-scale material handling operations.
• Bulk Material Handling Equipment Custom heavy machinery for process plants including transfer cars, central discharge systems, roll cum coil cars, and scrap melting furnace equipment. End-to-end capability from design to erection and commissioning.
• Engineering Construction Services Comprehensive engineering services including design, procurement, project management, construction, and commissioning. Formerly Mukand Engineers Limited, serving sectors including steel, power, cement, infrastructure, oil & gas, defense, and nuclear industries.
• Coke Bucket and Carriage for CDQ System Precision-manufactured Coke Bucket and Carriage for the Coke Dry Quenching (CDQ) system, an environmentally friendly alternative to traditional wet quenching. Positions Mukand in the sustainable steel equipment supply chain.

Quantifiable outcome

• 70% of total power needs met from renewable energy sources
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Tata Power Renewable Energy LimitedcoreStrategic or Co-development Partner · 1 January 202343.75 MW captive solar project partnership in Jamkhed, Maharashtra. Expected to generate 100 million units of clean energy annually and offset 54,687 tonnes of CO2 emissions per year. Meeting approximately 70% of Mukand's total power needs.
• Sumitomo CorporationcoreStrategic or Co-development Partner · 1 January 2018Sumitomo acquired 49% equity in MASPL (Mukand Advanced Steel Processing Ltd) forming MSSSL (Mukand Sumi Special Steel Ltd). Strategic partnership for alloy steel business expansion.
• NV Bekaert SA (Belgium)minorStrategic or Co-development Partner · 1 January 2007Joint venture established for stainless steel wire rods. Joint venture terminated on March 29, 2011, but Mukand continued to supply stainless steel wire rods to the venture.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Jindal Stainless: India's largest stainless steel manufacturer producing flat and long products. Direct competitor to Mukand in stainless steel long products serving automotive, architecture, and engineering segments in India.
• Viraj Profiles: One of the largest stainless steel long products manufacturers globally, with significant India operations. Directly comparable to Mukand in stainless steel wire rods, bars, and bright bars for engineering and automotive applications.
• Facor Steels: Indian specialty and alloy steel producer with focus on long products. Direct peer to Mukand's alloy steel division serving automotive, engineering, and power sector customers.
• Konecranes: Global leader in manufacturing EOT cranes, hoists, and material handling equipment. Direct competitor to Mukand's Machine Building Division in industrial cranes, port cranes, and material handling solutions.
• ElectroMech Material Handling Systems: Indian manufacturer of EOT cranes, hoists, and custom material handling equipment. Direct peer to Mukand's Machine Building Division in the Indian industrial crane market, serving similar automotive and manufacturing customers.

Broad incumbents

• JSW Steel: India's largest steel producer by capacity, offering a broad range of steel products including specialty grades. Competes with Mukand in alloy and stainless steel but operates at much larger scale and broader product mix.
• Tata Steel: One of the largest steel manufacturers globally and a major Indian player, with extensive specialty steel operations. Mukand's CEO (Neeraj Kant) was previously at Tata Steel subsidiary, and Tata is also a major customer/competitor in the broader Indian steel market.
• Steel Authority of India Limited (SAIL): India's largest state-owned steel producer, both a major customer of Mukand (for plant equipment) and a competitor in alloy/specialty steel segments. Competes across the full Indian steel value chain.
• Terex Corporation: Global heavy equipment manufacturer including cranes and material handling (through Terex|Genie and MP brands). Competes with Mukand in industrial cranes, port cranes, and bulk material handling equipment on a global basis.

Emerging players

• Pennar Industries: Indian multi-vertical manufacturer with cold rolled steel, engineering, and custom equipment businesses. Overlaps with Mukand in specialty steel products and engineering services for industrial customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@mukandsteel
• LinkedInlinkedin.com/company/mukand-limited
• Instagraminstagram.com/mukandlimited

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mukand