Saurashtra Cement Ltd.

YEAR                                                        EVENTS
 1956 - The Company was incorporated on 11th June, at Rajkot
        (Saurashtra).  The Main Object of the Company is to
 manufacture
        of cement.
 
 1957 - 25,000 Pref. and 50,000 No. of equity shares subscribed for
 by
        directors, etc. 25,000 Pref. and 50,000 No. of equity shares
        offered to the public during November, 1956.
 
 1965 - With effect from 1st July, the Company acquired from the Govt.
 of
        Gujarat lease of Ran mines in the district of Jamnagar
 consisting
        of 107.23 acres of land for a period of 20 years for
 excavation
        of gypsum.
 
 1966 - The Company acquired lease of land admeasuring 150 acres each
        near Pipalia village and Barda hills in Ranavav Mahal Forest
 Area
        for mining ordinary clay for a period of 10 years with effect
        from 23rd March, and 16th January, 1967 respectively, besides
 50
        acres of land obtained in Barda hills area for blackstone.
 
 1968 - In September, 40,000 Bonus equity shares issued in the
 proportion
        2:5.
 
 1971 - 6% Pref. shares redeemed on 30.6.1977.  50,000 - 9.5% Pref.
        shares issued at par through prospectus.  In March 1971,
 60,000
        Bonus equity shares issued in prop. 3:7.
 
 1976 - 2,00,000 Bonus equity shares issued in prop. 1:1.
 
 1986 - The 132KV feeder line was installed.
 
      - The Rights issue was to be kept open from 6th March to 5th
 April,
        but the closing date was extended to 12th April, at the
 request
        of some shareholders.
 
      - On 3rd April, a shareholder obtained an ex-parte interim 
        injunction from the Civil Court, Porbandar, restricting it
 from
        closing the rights issue.  The Company moved the Porbander
 Govt.
        and High Court of Gujarat at Ahmedabad for vacating the
 interim
        injunction.
 
      - 3,00,000 right shares issued at par in prop. 3:4 (only
 2,98,575
        shares taken up).  Another 15,000 shares issued to employees
        (only 1,425 shares taken up).
 
 1989 - The Company came under the provision of the Sick Industrial
        Companies (Sp. Provisions) Act, 1985 and a reference was made
 to
        the Board for Industrial and Financial Reconstruction (BIFR).
 
 1991 - The Company was able to wipe of the entire carry forward
 losses 
        and hence, ceased to be a Sick Company.
 
 1993 - The Company proposed to increase the capacity from 8,63,000
 TPA
        to 11,28,900 TPA in two phase.  The first phase increasing
 the
        capacity to 10,91,500 TPA commenced commercial production in
        October 1994.  The second phase is expected to commence
        commercial production in August 1995.
 
      - During September, the Company issue 42,00,000-18% partly
        convertible debentures of Rs 150 each in ratio 3:5 (all were
        taken up).  Also, through the prospectus, the following were
        offered on preferential basis:
 
      - (i) 87,500 debentures on preferential allotment basis to
        employees (only 800 debentures taken up).
 
      - (ii) 1,26,200 debentures to NRIs (only 1,02,300 debentures
 taken
        up).
 
      - (iii) 1,93,800 debentures to FIIs (only 1,61,500 debentures
 taken 
        up).  Balance 4,00,000 debentures along with unsubscribed
 portion
        of 1,42,900 debentures from preferential quota was issued to
 the
        public.
 
      - Part A of Rs 50 of the value of each debentures was to be
        converted into 1 equity shares of Rs 10 at a premium of Rs 40
 per
        share on allotment.  Accordingly 50,07,500 shares allotted. 
 Part
        B of Rs 200 of the face value of each debenture was to be
        redeemed at par in suitable instalment between the 5th and
 7th
        year for the date of allotment of debentures.
 
 1994 - New equipments such as 5 stage preheater, controlled flow
 grates
        from Germany were installed.  Also, state of the art fuzzy
 logic
        control system was installed and a new control room for
        centralised control of the plant operations was set up.
 
      - The Company was in the process of setting up balancing
 equipment
        and upgrading the Cement mills and installing a cooler etc. 
 It
        was proposed to install an additional 6 MW D.G. set at
 Ranavav.
 
 1995 - The Company proposed to expand the capacity to 3,750 tonnes
 per
        day.
 
 1996 - 35,00,000 Pref. Shares Issued.  4,000 forfeited shares
 issued.
 
 1997 - 38,10,500 No. of equity shares allotted on preferential
 basis.
 
 2000 - Crisil has downgraded the C rating assigned to the Rs 58.2
 crore non-convertible
              debenture issue of the company to D.
 
 2003-Delist Company's securities from Kutch, Ahmedabad, Vadodara and
 Delhi Stock Exchanges.
 
 2007
 
 - Saurashtra Cement Ltd has approved appointment of Mr. G J Prasad,
 Nominee Director of IFCI on the Board of Directors of the Company.
 
 2009
 
 - Saurashtra Cement Ltd has informed that the Board of Directors of
 the Company at its meeting held on April 29, 2009, inter alia, has
 approved appointment of Mr. Bimal Thakkar, as an additional director
 on the Board of Directors of the Company.
 
 2014
 
 - Saurashtra Cement Ltd has appointed Mr. Rakesh H. Mehta as a Chief
 Financial Officer of the company.
 - Saurashtra Cement Ltd has appointed  Mr. P. K. Behk. and Mrs.
 Bhagyam Ramani are the Additional Directors of the company.
 
 2020
 
 NCLT approved the Scheme of Amalgamation of Parsec Enterprises
 Private Limited (Transferor Company) with  Saurashtra Cement Limited
 (Transferee Company)
 
 
 2023
 
 During the year, company has started  clinker production at Ranavav
 plant