Maithan Alloys
Maithan Alloys Limited is a publicly listed Indian manufacturer and exporter of niche value-added manganese alloys (Ferro Manganese, Silicon Manganese, Ferro Silicon) serving steel producers globally across multiple continents, with operations expanded into Real Estate, Health, Hospitality, and Education via new subsidiaries since 2025.
- Company typePublic
- Founded1995
- HeadquartersKolkata, India
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Maithan Alloys does
Maithan Alloys Limited is an Indian publicly listed manufacturer and exporter of niche value-added manganese alloys, incorporated in 1985 (as Maithan Steel & Castings Limited) and renamed in 1995. The company operates three core ferro alloy products — Ferro Manganese, Silicon Manganese, and Ferro Silicon — serving steel manufacturers globally for applications in flat steel, stainless steel, alloy steel, manganese-rich steel, and specialty steels including silicon steel for electromotors and transformer cores. It maintains manufacturing facilities in Kalyaneshwari (West Bengal), Meghalaya, and Vishakhapatnam (Andhra Pradesh, within APSEZ), with a registered office in Kolkata. The company also operates a wind power generation business supplying electricity to the grid.
The company runs a direct B2B enterprise sales model, exporting bulk volumes to steel producers across multiple continents, with documented bulk-vessel shipments including a 6000-tonne delivery to Qatar. Its quality control infrastructure includes an X-ray fluorescence (XRF) machine installed in 2008 — described as the first of its kind in the Indian ferro alloys industry — for chemistry analysis with minimal human intervention. The company is ISO 9001:2015 certified and holds ISO 18001 certification for occupational health and safety. It is led by the Agarwalla family, with S.C. Agarwalla as Chairman and Managing Director, Subodh Agarwalla (IIT BHU, IIM Bangalore) as CEO, and Sudhanshu Agarwalla (XLRI Jamshedpur) as President and CFO.
Revenue is generated through one-time sales of manufactured ferro alloys (customized by chemical configuration such as Low P, Low Ti, Low Carbon, Low AI, High Mn) and through wind power supply. Pricing is not publicly disclosed and is determined through customized quotations. The company's go-to-market is field-led enterprise sales targeting large steel manufacturers. In 2025, Maithan Alloys amended its Object Clauses to authorize operations in Real Estate, Health, Hospitality, and Education, and incorporated four new wholly-owned subsidiaries (Maithan Fresh, Maithan Nutrition, Maithan Capital, Maithan Electronics) between June 2025 and January 2026 to execute this diversification strategy alongside its core operating subsidiary Maithan Ferrous Private Limited.
Maithan Alloys firmographics
Firmographics- Name
- Maithan Alloys
- Legal name
- Maithan Alloys Limited
- Website
- https://maithanalloys.com
- Company type
- Public
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Maithan Alloys Limited is a publicly listed Indian manufacturer and exporter of niche value-added manganese alloys (Ferro Manganese, Silicon Manganese, Ferro Silicon) serving steel producers globally across multiple continents, with operations expanded into Real Estate, Health, Hospitality, and Education via new subsidiaries since 2025.
- Ownership category
- akta.pro rank
Maithan Alloys industry classification
Industry- Product category
- Ferro Alloys Manufacturing
- NAICS
- Iron and Steel Mills and Ferroalloy Manufacturing (33111)
- SIC
- Primary Smelting & Refining Of Nonferrous Metals (3330)
- akta.pro primary industry
- Manganese Ore Mining & Concentrates (IMAKAFAF)
- akta.pro secondary industry
- Specialty & Alloy Steel (Stainless, Tool Steel, Electrical Steel, High-Strength/HSLA) (IMAKABAJ)
Keywords
Where Maithan Alloys is headquartered
LocationHeadquarters
- HQ city
- Kolkata
- HQ country
- India
- HQ region
- Asia
Offices5 records
Markets served
Maithan Alloys business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Ferro Alloy Manufacturing and Export: Manufacturing and exporting of all three bulk Ferro alloys - Ferro Manganese, Silico Manganese and Ferro Silicon to steel companies globally
- Wind Power Generation: Generation and supply of Wind Power
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Maithan Alloys product offering
Product offeringCore offering
Maithan Alloys Limited manufactures and exports niche value-added manganese alloys for the global steel industry. Its core product portfolio comprises three ferro alloys — Ferro Manganese, Silicon Manganese, and Ferro Silicon — supplied in customized chemical configurations to large steel, stainless steel, and specialty steel producers. The company also generates and supplies wind power as a secondary revenue stream.
Product overview
Maithan Alloys is a manufacturer and exporter of niche value-added manganese alloys. The company offers three core ferroalloy products: Ferro Manganese, Silicon Manganese, and Ferro Silicon. Ferro alloys are alloying elements that enhance steel strength, durability, anti-corrosion and anti-stain properties. These products serve the steel industry, with applications in flat steel, stainless steel, manganese-rich steel, alloy steel, and special steels for electromotors and transformer cores.
Differentiator
Problem solved
Functional benefit
Products and services
- Ferro Manganese Ferro Manganese is primarily an alloy of manganese and iron containing a high content of manganese. Used in steel products where silicon content needs to be controlled at low levels. Mainly used in silico manganese production of flat steel, manganese-rich steel, and stainless steel. Available in Low P and Low Ti configurations.
- Silicon Manganese Silicon Manganese is an alloy of manganese, silicon, and iron. It is a cost-effective blend of manganese and silicon and is normally the product of choice for steel manufacturers. Consumed in all steel products and used in higher quantities in 200 series stainless steel, alloy steel, and manganese steel. Available in Low carbon, Low boron, Low Ti, Low P, and High Mn configurations.
- Ferro Silicon Ferro Silicon is an alloy of silicon and iron. Silicon acts as a strong steel oxidant. Used primarily in special steels and in small quantities in mild steel. Also used for the manufacture of silicon, corrosion-resistant and high-temperature resistant ferrous silicon alloys, and silicon steel for electromotors and transformer cores. Available in Low AI configuration.
- Wind Power Generation and supply of wind power as part of Maithan Alloys' renewable energy operations.
Companies that use Maithan Alloys
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles1 record
Maithan Alloys technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Maithan Alloys partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core.
- Maithan Electronics Private LimitedcoreSubsidiary incorporated on 27th January 2026 for diversification into electronics sector
- Maithan Capital LtdcoreWholly-owned subsidiary incorporated on 18th December 2025 as part of Maithan Alloys' diversification strategy into new business sectors including Real Estate, Health, Hospitality, and Education
- Maithan Nutrition Private LimitedcoreWholly-owned subsidiary incorporated on 25th July 2025 for diversification into nutrition sector
- Maithan Fresh Private LimitedcoreWholly-owned subsidiary incorporated on 7th June 2025 as part of diversification into fresh produce/business sector
- Maithan Ferrous Private LimitedcoreSubsidiary company with manufacturing operations including furnace switching-on reported in 2025; production cuts announced in 2023-2024; involved in Composite Scheme of Arrangement approved by NCLT
Scale indicators5 records
Recent moves9 records
Expansion highlights5 records
Maithan Alloys competitors and assessment
Company assessmentBroad incumbents
- Tata Steel Limited: Tata Steel is India's largest integrated steel producer and a major buyer of ferro alloys including manganese alloys. While not a direct competitor in ferro alloys, it is a key customer category and sets industry price benchmarks relevant to Maithan.
- Jindal Steel & Power Limited (JSPL): JSPL is a major Indian integrated steel producer that is both a documented Maithan customer and a benchmark for industry demand/pricing. Operates broadly in steel with ferro alloys sourcing needs similar to Maithan's customer base.
- JSW Steel Limited: JSW Steel is one of India's largest integrated steel producers and a major consumer of manganese-based ferro alloys. Comparable as a key customer-segment reference and influences demand/pricing dynamics in the Indian manganese alloys market.
- Steel Authority of India Limited (SAIL): SAIL is India's largest public sector steel producer and a significant buyer of ferro alloys for its integrated steel plants. Comparable as a large institutional buyer of manganese alloys with similar quality specifications.
Direct peers
- Visa Steel Limited: Visa Steel is an Indian manufacturer of ferro alloys and stainless steel, directly comparable in product offerings (ferro chrome, ferro manganese) and customer base of steel mills in India and globally.
- Balasore Alloys Limited: Balasore Alloys was a major Indian ferro chrome and ferro alloys producer serving the global stainless steel industry. Closely comparable product/customer profile to Maithan's manganese alloys business.
- Facor Alloys Limited: Facor Alloys is part of the Facor group producing ferro chrome and other ferro alloys for steel manufacturers. Comparable in being an Indian standalone ferro alloys producer serving steel industry customers.
- Shyam Ferro Alloys Limited: Shyam Ferro Alloys is an Indian manufacturer of ferro alloys serving steel producers. Directly comparable in product portfolio (silicon manganese, ferro manganese), customer segment, and B2B distribution model.
- Nava Bharat Ventures Limited: Nava Bharat operates a ferro alloys division alongside power generation, making it comparable to Maithan's smelting-plus-wind-power profile. Similar business model spanning ferro alloys manufacturing for steel customers.
- Indian Metals & Ferro Alloys (IMFA): IMFA is India's largest pure-play ferro alloys producer, manufacturing ferro chrome, ferro manganese, and silicon manganese for the steel industry. Direct competitor with similar product mix, end-customers, and smelting-based business model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Maithan Alloys social profiles
Digital presenceMaithan Alloys compliance and trust
Trust signalCompliance1 record
Maithan Alloys financial estimates
Financial estimateRevenue estimate
Valuation estimate
Maithan Alloys leadership team
Management profileNumber of profiles
Profiles8 records
Maithan Alloys subsidiaries and ownership
Company hierarchySubsidiaries5 records
Maithan Alloys funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Maithan Alloys M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Maithan Alloys
What does Maithan Alloys do?
Maithan Alloys Limited manufactures and exports niche value-added manganese alloys for the global steel industry. Its core product portfolio comprises three ferro alloys — Ferro Manganese, Silicon Manganese, and Ferro Silicon — supplied in customized chemical configurations to large steel, stainless steel, and specialty steel producers. The company also generates and supplies wind power as a secondary revenue stream.
Is Maithan Alloys a public or private company?
Maithan Alloys is a public company. It is classified as public and is currently operating.
When was Maithan Alloys founded?
Maithan Alloys was founded in 1995. It employs 1,001 to 5,000 people.
Where is Maithan Alloys based?
Maithan Alloys is headquartered in Kolkata, India, in the Asia region.
How does Maithan Alloys make money?
Two revenue lines are on record. Ferro Alloy Manufacturing and Export is the primary driver. The others are wind Power Generation.
Who are Maithan Alloys's main competitors?
Broad incumbents on record are Tata Steel Limited, Jindal Steel & Power Limited (JSPL), JSW Steel Limited and Steel Authority of India Limited (SAIL). Direct peers are Visa Steel Limited, Balasore Alloys Limited, Facor Alloys Limited, Shyam Ferro Alloys Limited, Nava Bharat Ventures Limited and Indian Metals & Ferro Alloys (IMFA).
Does Maithan Alloys have an API?
No public API is recorded for Maithan Alloys.
What industry is Maithan Alloys in?
Maithan Alloys's product category is Ferro Alloys Manufacturing. Its primary akta.pro industry code is IMAKAFAF, Manganese Ore Mining & Concentrates, with a secondary code of IMAKABAJ, Specialty & Alloy Steel (Stainless, Tool Steel, Electrical Steel, High-Strength/HSLA). Its NAICS code is 33111 and its SIC code is 3330.