Scan Group is a renowned name in iron and steel industry. Scan Steels Limited is the flagship company of Scan Group of Industries and represents its integrated steel plant located at Rajgangpur. Through strategic marketing and direct customer outreach, the brand became a household name in Odisha and nearby states. In 2014, it achieved the milestone of getting listed on the BSE. Over the years, the company has expanded to become the state’s largest TMT manufacturer through secondary steelmaking. The visionary behind this successful business is Chairman Rajesh Gadodia whose commitment to maintaining uniform quality over the years has solidified the brand’s reputation. In an interaction with Orissa POST, Gadodia shares his entrepreneurial journey. Excerpts…
Can you brief us about your early life and what made you enter the steel industry?
After completing BTech in Bangalore, I returned to my native place, Rajgangpur, and joined my father, Sawarmal Gododia, in a trading business. Recognising my business acumen, strategic thinking, and knowledge, he encouraged me to venture into manufacturing. Following his guidance, I laid the foundation for my business in 1992 at Rajgangpur. Today, we are a fully integrated steel manufacturer with captive power plants, sponge iron, and SMS facilities. Our company has consistently focused on adding upstream and downstream value-adding installations to optimise processes, reduce production costs, expand market reach, and minimise reliance on the state power grid through captive power generation.
India remains a bright spot in global steel industry. Are you also witnessing this in Odisha market?
Yes, Odisha is indeed experiencing significant growth in steel industry, aligning with India’s overall positive trajectory in this sector. The state government has recently approved industrial projects worth Rs 32,736 crore, further bolstering the state’s industrial landscape. These approvals, granted ahead of the Utkarsh Odisha – Make in Odisha conclave 2025, underscore the state’s proactive approach to attracting and facilitating large-scale industrial investments. Odisha’s rich natural resources, strategic location, and supportive government policies have positioned it as a key player in India’s steel industry. The state is not only witnessing but also actively contributing to the robust growth of India’s steel industry, reinforcing its status as a bright spot in the global steel market.
What are the leading challenges that the industry is facing?
The steel sector in Odisha faces challenges like fluctuating raw material prices, high logistics costs, and environmental compliance. Infrastructure bottlenecks and power supply issues also impact production efficiency. Global market volatility and import competition add further pressure. Skilled workforce retention remains a concern for sustained growth. Despite these, Odisha’s steel industry continues to expand with strategic investments and policy support.
How has your journey been so far? What are your future plans?
Through strategic marketing and direct customer outreach, Scan Steels has become a household name in Odisha and nearby states. The secret to our success lies in low-cost production, superior quality materials, and a dedicated workforce and distribution network. Our organisation fosters long-term relationships, instilling confidence and trust among employees and business partners. Looking ahead, we are expanding the steel business through trading and a new steel plant setup within our existing factory and additional land in Sundargarh with an investment of Rs 600 crore over the next six years. Additionally, we are diversifying into logistics, real estate, and green energy while planning investments in the NBFC sector. Our ultimate goal is to achieve a group turnover of Rs 10,000 crore. We are also in the process of listing on the NSE, allowing our shares to be traded on both exchanges. The steel industry is also moving towards greener technologies, such as hydrogen-based steelmaking, carbon capture, and increased recycling; so our focus will be on reducing emissions while also meeting the growing global demand.
As a successful entrepreneur, do you have any advice for the new entrants?
Success in business requires vision, resilience, and adaptability. Always focus on quality, cost efficiency, and customer trust. Innovation and strategic investments drive long-term growth. Build strong relationships and lead with integrity. Stay committed, embrace challenges, and never stop learning.
