Steel Products Manufacture Ambicon Steels published an annual report. According to the report, the company plans to increase production.
"The company plans to increase production and its productivity for the future, which will significantly increase the company's revenue, as well as improve the social background in the country," Ankit Singhania, CEO of Ambicon Steels declares.
The enterprise was opened in Kutaisi with Indian investments.
The company increased revenues by 79.9% during the last financial year (01/04/2020 - 31/03/2021). The earned money amounted to GEL 26 million, up by 11.7 million y-o-y. Operating profit was GEL 10.7 thousand. Net loss amounted to GEL 121.4 thousand.
100% of Ambicon Steels is owned by Indian Ambicon Ventures Private.
The company acquired the property of the company Euroasian Steels in 2018 and invsted more than GEL 4 million for the re-operation of the plant in 2018-2019.
