Sagar Cements

YEAR                       EVENTS
 1981 - The Company was incorporated on 15th January at Andhra
 Pradesh.
 
      - The main object of the Company is to manufacture ordinary
        portland cement.  The Company's cement is marketed under the
        brand name Priya Cement
 
      - The Company was promoted by Mr. Muni Krishna, Mr. J. Rama Rao
 and
        Mr. Butchaiah.
 
      - The Company obtained a mining lease from the Andhra Pradesh
        Government for mining limestone over a 1,200 acre area in
 village
        peddaveedu, Nalgonda district.
 
 1984 - 5,100 Shares subscribed for by the signatories to the
 Memorandum
        & Articles of Association.  7,54,800 shares reserved and
 allotted
        to promoters, etc., and 4,20,000 shares reserved and allotted
 to
        APIDC.  1,40,000 shares reserved and allotted to the
 promoters,
        P.N. Krishna and J. Rama Rao which were subscribed with the
        assistances given from Risk Capital Foundation.  15,30,000
 shares
        offered at par for public subscription during
 September-October.
 
 1986 - The Government permitted the Company to enhance its licensed
        capacity to 99,000 tonnes per annum, and accordingly the
        industrial licence was re-endorsed to permit maximum
 utilisation
        of installed capacity.  The Company installed some balancing
        equipments and machinery with a view to economise and also to
        improve efficiency.
 
 1987 - One D.G. set was installed to supplement the available power.
 
 1989 - Two more D.G. sets were installed and commissioned in May to
        maintain the production at optimum level.
 
      - The Company undertook another expansion scheme to enhance the
        production capacity to 600 tonnes of clinker and 400 tonnes
 of
        cement per day.  It was proposed to set up a new grinding unit
 at
        Salur in Andhra Pradesh with an installed capacity of 600
 tonnes
        of slag cement.  An agreement was entered with Visakhapatnam
        Steel Plant to supply the required slag to the unit.
 
      - The Company proposed to diversify into manufacture of drybond
        thinset mortar used in fixation of tiles, stones and marbles.
        Steps were being taken to merge Sagar Laticrete Systems Ltd.
        (SLS), with the Company.  SLS had entered into a
 collaboration
        agreement with Laticrete International Inc., U.S.A., for the
        supply of technical know-how for the project.
 
 1990 - Necessary land was acquired and orders were placed for core
        equipments.  Necessary civil works for the Salur grinding
 unit
        were taken up and orders were placed for plant and machinery.
 
      - 400 shares issued without payment in cash.
 
 1992 - In June the Company offered 1,14,000-15% fully convertible
        debentures of Rs.500 each as rights in the proportion 2
        debentures for every 50 No. of Equity shares held (all were
 taken
        up).  Additional 17,100 debentures were allotted to retain
        oversubscription.
 
      - Simultaneously, 5,700-15% fully convertible debentures were
        offered to employees, etc., on an equitable basis.  Only
 5,076
        debentures taken up.
 
      - Subsequently in June, the Company offered 66,000-15%
 convertible
        debentures of Rs.500 each out of which 3,300 debentures were
        reserved and allotted on a preferential basis to employees,
 etc.
        The balance 62,700 debentures were allotted to the public.
        Additional 9,900 debentures were allotted to retain
        oversubscription (196 debentures to employees and 9,704
        debentures to the public).
 
      - The full amount of Rs.500 of each debenture allotted to
        shareholders as rights as also to the public will be
 converted
        into 25 No. of equity shares of Rs.10 each at a premium of
 Rs.100
        per share at the end of 6 months from the date of allotment.
 
 2006
 
 -Sagar Cements Ltd has informed that the Industrial Development Bank
 of India (IDBI) has withdrawn their nominee Director Shri D Sudhakar
 Rao from the Board of the Company with effect from October 12, 2006.