Maithan Alloys Shuts Down Byrnihat Unit Amid Rising Power Costs

Maithan Alloys Ltd has decided to indefinitely shut its Byrnihat unit in Meghalaya as of August 31, attributing the decision to challenging market conditions and soaring power costs in the region.

In an official filing, the company stated that the move comes in response to critical economic pressures, with specific reference to the escalating expenses of electricity in the northeastern state.

The unit accounted for a noticeable 6.12% of the total turnover and 8.16% of the net worth in the 2024-25 fiscal, demonstrating its significant contribution to the company, which garnered Rs 112.17 crore in revenue during the last fiscal year.

(With inputs from agencies.)