BMW Industries has signed a Memorandum of Understanding (MoU) with the Ministry of Steel under the Production Linked Incentive (PLI) scheme 1.1 for specialty steel. Under this agreement, the company will manufacture coated and plated steel products, including AI-Zn coated (Galvalume) products, at its upcoming Greenfield Downstream Steel Complex in Bokaro, Jharkhand.
In a filing, BMW Industries stated that it has been qualified as a beneficiary under the PLI scheme. The company expects the initiative to enhance its downstream steel capabilities and expand its presence in both domestic and international markets.
Harsh Bansal, managing director of BMW Industries, said, “With our strategically positioned Bokaro plant and seamless access to key resources, we are confident this project will create enduring value for our stakeholders.”
The company, incorporated in 1981 and based in Kolkata, manufactures HRPO coils, CR coils, GP coils, GC sheets, MS and GI pipes, and TMT rebars, among other steel products.
On March 25, 2025, BMW Industries’ stock rose 9.9 percent intraday, reaching a high of INR 49.51 per share on the BSE. At 12:35 PM, the stock was trading at INR 48.25 per share, up 7.15 percent, while the BSE Sensex was up 0.12 percent. The company’s market capitalization stood at INR 10.86 billion. Over the past year, BMW Industries’ stock has declined by 18 percent, compared to the Sensex’s 7.6 percent gain.