International Steels Limited
International Steels Limited (ISL) is a public Pakistani steel producer based in Karachi. It makes cold rolled, galvanized and color-coated steel coils and sheets. ISL was founded in 2007 by Amir Sultan Chinoy as a joint venture between International Industries Limited, Sumitomo Corporation and JFE Steel. The plant in Landhi, Karachi began operating in 2010 with a $162 million investment, producing up to 280,000 tonnes per year of cold rolled coil and 150,000 tonnes per year of galvanized steel. The project was funded in part by an $18.4 million loan from the International Finance Corporation, including a $6.4 million convertible loan.
ISL is listed on the Pakistan Stock Exchange (PSX) and is a component of the KSE-100 index. It went public in June 2011 with an IPO priced at PKR 14.06 per share. Capacity expanded in 2016 to over 500,000 tonnes per year (including 400,000 tonnes of galvanized steel) after upgrades to the cold rolling mill, a second galvanizing line and a color coating line, at a cost of about Rs 3.2 billion. A further expansion in 2018 raised capacity to about 1 million tonnes per year.
As of 2023, ISL reported revenue of Rs 76.75 billion, operating income of Rs 7.455 billion, net income of Rs 3.518 billion, assets of Rs 42.391 billion and equity of Rs 21.683 billion. The company employs about 688 people. Major shareholders are International Industries Limited (56.33%), Sumitomo Corporation (9.07%) and JFE Steel (4.74%). The CEO is Yousuf H. Mirza and the chairperson is Kamal A. Chinoy.
In 2025, Pakistan’s Competition Commission fined ISL and Aisha Steel Mills for price-fixing in the flat steel market. ISL was fined Rs 914.2 million for actions between 2020 and 2023 that helped raise flat steel prices by about 111%, with penalties equal to 1% of annual turnover for 2021–2022.
This page was last edited on 2 February 2026, at 12:01 (CET).