History of Ambuja Cement Rajasthan Ltd..
YEAR EVENTS 1992 - DLF Cement Ltd was incorporated under the name & style of DLF Cements Ltd on 12th May, & obtained the Certificate for Commencement of Business on 29th May.
- The name of Comp. was subsequently changed to DLF Cement Ltd & a fresh Certificate of incorporation was obtained on 17th October.
1995 - The company plant is being set up in the state of Rajasthan i.e. in the northern part of the country which is a deficit zone due to excessive demand supply gap.
- The Comp. has 1.5 lac share holders & around 65,000 debenture holders.
1996 - The Comp. is all set to launch the product in the market under the brand name 'DLF Premium Cement'.
- The installed annual capacity in the north zone is approximately 17.77 Million Tonnes & the production capacity utilisation is 83%.
- The Comp. has started the unique facility, perhaps for first time in the country, of on-the-spot transfer of shares/debentures at Delhi Office.
1997 - The Comp. has launched both 43 Grade & 53 Grade cement & has opened depots & offices all over the targeted market areas.
- India is the fourth largest producer of cement in the world, after China, Japan & U.S.A. The total installed capacity of large plants in India is around 96.69 million tonnes. The installed capacity in northern zone is approximately 17.77 million tonnes & the production capacity utilization is around 83%.
- Shri Rajiv Singh & Shri T. C. Goyal, retire by rotation, from the Board of Directors at the ensuing Annual General Meeting & they have offered themselves for re-appointment.
1998 - The cash flow of Comp. has been adversely affected due to low margins, higher cost of production, higher distribution charges & also due to high financial charges.
- 1,09,01,920 debentures under option III were converted into 3,81,56,720 equity shares of Rs. 10/- each on 5th June, 1998. Consequent to the above, the Equity Share Capital of the Comp. stands increased from Rs.128,48,41,070 to Rs. 166,64,08,270.
1999 - Gujarat Ambuja Cements limited [GACLs] has agreed to join the existing management for revival of Company. GACL is a leading cement Comp. in the country.
- As on 29th September, the Comp. has converted 107.90 lac Multi Optional Convertible Debentures of Rs. 35/- each alongwith interest of Rs. 1.13 lacs accrued thereon as of 31st March, into 284.46 lac equity shares of Rs. 10/- each at a price of Rs. 13.28 per share.
- The Comp. has allotted equity shares of aggregate face value of Rs. 35.20 crores to the Financial Institutions in the month of December.
2000 - The Comp. proposes to make a preferential allotment of 500 lakh equity shares of Rs 10 each on private placement basis to Gujarat Ambuja Cement.
- Crisil has upgraded the rating of Comp. Rs 14.01 crore multi-option convertible debenture issue, from the default grade [`D's] to adequate safety level, A+.
- Mr. N.P. Ghuwalewala, a Director nomination by GACL was appointed as Managing Director, in place of Mr. A.S. Minocha, who resigned as Managing Director of Comp. on 3rd March.
- The name of Comp. has been changed from DLF Cement limited to its present name i.e. Ambuja Cement Rajasthan Limited with effect from 6th April.
- The Comp. has launched the cement under the brand 'Ambuja Cement' from April.
- Mr. S.K. Neotia was appointed as the Chairman of Comp. during the period.
2001
- Gujarat Ambuja Cement Ltd has acquired 3,10,00,000 No. of equity shares of Rs 10 each for cash at par allotted to it on 22nd December.
-Referred to Board for Industrial & Financial Reconstruction [BIFRs]
2002
-Diminishes its cost leadership due to acquisition.
-Board approves the merger of Ambuja Cement Rajasthan Ltd into Gujarat Ambuja Cements Ltd.,[GACs] subject to necessary approvals.
