Inducto Steel Limited (ISL) was incorporated in the State of Gujarat in November, 1988. The Company is now a diversified company in its ship breaking activities and trading in metal scrap, coals, aluminum foil & other inputs. During the year 1996-97, production was affected due to the fire in the plant of the company. In the same year company came out with a public issue of 23,36,000 equity shares of Rs. 10/- each for cash at par.