Company History - Chettinad Cement
YEAR EVENTS
1962 - The Company was incorporated on 11th December, in Chennai.
The
Company manufactures portland Cement.
- 8,50,000 No. of Equity shares subscribed for by directors,
etc.
90,000 Pref. and 12,50,000 No. of Equity shares offered at par
in
the public in April 1965.
- The Company executed mining lease deeds for mining limestone
and
clay. The Government also issued orders regarding the mining
of
gypsum.
1979 - The Company had taken up a Scheme for the improved working of
the
quarry and factory which included installation of
electrostatic
precipitable for the kilns, captive power plant, etc.
1983 - Towards the implementations of the first phase of the
modernisation scheme, a primary crusher with a capacity of
400
tonnes per hour alongwith necessary material handling
equipment
was installed.
- In continuation of the first phase, it was planned to install
a
dry process kiln with a capacity of 1,700 tonnes per day with
precalciner. The plant capacity would be increased to about
5.8 lakh tonnes per annum.
1988 - 21,00,000 Right Equity shares issued at par (prop. 1:1).
Another
1,05,000 No. of equity shares offered at par to employees but
only 15,850 shares taken (rest were allowed to lapse).
Redemption date for 26,545 pref. shares extended to 25.06.1994
or
after and pref. div. raised to 14% from 25th June.
1992 - With the conservation of energy as main theme, the Company
undertook modernisation/expansion programme during the years
1986-89.
1993 - During the year, the company achieved capacity utiliation of
119%
despite unexpected heavy rains and lorry strike.
1994 - The Company commissioned 16 Nos. of Wind Power Generators to
a
capacity of 4 MW under phase I. In addition, 26 Nos. of wind
power generators to a capacity of 5.85 MW were installed and
commissioned in March 1995 under phase II.
- The Company had also taken steps to install 12 Nos. of wind
power
generators of 400 KW each to a capacity of 4.8 MW under phase
III
which was to be commissioned before September 1995.
- The Company entered into a memorandum of agreement for the
acquisition of a bulk carrier of 43589 DWT in order to enter
shipping business. Necessary approvals from the concerned
authorities was obtained.
- The production was hampered by unexpected heavy rains and
also
lorry strike. Nevertheless, the Company made a substantial
recovery in the last quarter of the Financial year.
- The Company has taken steps for installing 16 Nos. of 250KW
each
Wind Power Generators for a total capacity of 4 M.W. near
Poolavadi in Coimbatore District.
1995 - 42,15,850 bonus shares issued in prop. 1:1.
- The company has been awarded ISO 9002 Certificate of
International Organisation for Standardisation by Bureau of
Indian Standards for the quality systems-model for quality
assurance in production and installation and reiterate with
great
pride that the company is the first company in Tamilnadu to
be
honoured with ISO 9002 Certificate in the field of mining.
- The Company has taken steps to install 12 Nos. of Wind Power
Generators of 400 KW each to a capacity of 4.8 MW in the same
location under Phase III. The proposed Wind Power Generators
will
be commissioned before end of September with financial
assistance
from IFCI.
- The Company has decided to diversify its activities by
entering
into Shipping Sector. The Company has entered into a
Memorandum
of Agreement for the acquisition of a Bulk Carrier of 43589
DWT.
1996 - The Company took up a modernisation programme, considering
the
installation of Stacker-cum-Reclaimer, Earth moving
equipment.
Primary crusher, construction of Silos, Vertical Roller mill
for
cement grinding and packer.
- The Company has installed and commissioned 12 Nos. of 225 KW
each
Wind Power Generators under phase IV in March, 96 with the
financial assistance from the Industrial Finance Corpn. of
India
Ltd. Totally, 66 Nos. of Wind Power Generators for a capacity
of
17.35 MW have been installed in four phases.
1997 - The cement production was significantly lower at 8.34 lakh
tonnes
against 9.15 lakh tonnes in 1995-96 because of a slower
offtake
in the closing months of the accounting period and the
adverse
effect of the truckers strike in March.
- Chettinad Cements Ltd has planned to set up a new cement unit
with a capacity of 6 lakh tonnes near its existing unit.
This
expansion will take the total capacity of the company to 1.2
million tonnes per annum.
1998 - The Rs.8 crore commercial paper programme of Chettinad Cement
Corporation has been assigned a P2+ rating by Crisil.
- The company is financially strong and rates amongst the best
in
the industry on operating efficiency parameters.
- Chettinad Cement Corporation Ltd has recently installed and
commissioned a Onada & Kobes cement mill to improve the
quality
of its cement.
- With the introduction of the new technology, the company has
recently launched `Chettinad Royal' 53-grade cement which had
high strength and uniform particle distribution.
- It undertook a modernisation programme and staged a turnaround
in
the early nineties, supported by a strong recovery in cement
prices in southern India.
1999 - The expansion involves setting up of an one million tonne
greenfield project at Palayam (a limestone belt) in Tamil
Nadu
about 45 km from the company's existing plant.
- Chettinad Cement Corporation Ltd (CCC) has embarked upon a
expansion programme at its existing facility under which the
capacity would increase to 1.5 million tonnes per annum from
the
current 0.6 million tonnes per annum.
- The Chennai-based Chettinad Cements Corporation Ltd (CCCL) is
doubling its cement capacity to two million tonnes.
- Chettinad Cement is one of the major players in the South.
Apart from cement, the company has interests in shipping too.
2000 - Chettinad Cement Corporation Ltd is coming out with a Rs
60-crore
rights issue to fund its one million tonne greenfield
expansion
plan at Palayam in Dindigul district, Tamil Nadu.
- Chettinad Cement Corporation Ltd has priced its rights issue
at
Rs 32 per share. The ratio for rights entitlement is 2:3.
- The Company has acquired 4,01,884 shares of the company by way
of
inter-se-transfer among promoters.
2001
-Tamil Nadu Electricity Board (TNEB) signs MoU with the Chettinad
Cement Corporation Ltd. under which the board will ensure time-bound
supply of quality power to the company
-High Court orders the state government, Sipcot and the commercial
tax department to extend sales tax incentive to Chettinad Cement
Corporation Ltd (CCCL)
-Commissioned its 1.1 million tonne greenfield expansion project in
Tamil Nadu at a cost of Rs 325 crore
-Launches ready-mix concrete (RMC) under the brand, 'Ready Mix
Chettinad'
2002
-Approves the proposal to come up with a rights issue for raising
about Rs 40 crore in the ratio of 2:5 at a price of Rs 36 each
2003
-Board of directors ratify the proposed rights issue valued below Rs
40 crore to be used to part finance the 15-MW coal-based captive
power plant that the company intends to put up
-Decides to revoke the Rights Issue
2009
- Chettinad Cement Corporation Ltd has appointed M/s. V Soundararajan
& Co., Chartered Accountants as Statutory Auditors of the Company.
2010
- Coal based 1 x 15 MW capacity CPP was commissioned during Jan-2010
Erection and Commissioning of 2 Cement Plants in World Record Time at
Ariyalur.
- Roller press with ball mill for cement grinding with capacity 0.5
million commissioned during February -2010 at Puliyur
2011
- Board has recommended a Dividend of Rs. 5/- per Equity Share.
- Brown field Cement Plant with capacity of 2.5 MTPA was commissioned
at Karikkali in March 2011 along with coal based 30MW captive power
plant within the same premises.
2012
- Mr. L. Muthukrishnan, Chartered Accountant has been Co-opted on the
Board of the Company as an Additional Director.
- The Board has recommended a Dividend of Rs. 7.50 P. per Equity
Share.
2013
-The company recommended a Dividend of Rs. 5/- per Equity Share, i.e.
50% on the Equity share capital of the Company.
