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History of Dhar Cement Ltd.

YEAR EVENTS 1979 - The Comp. was Incorporated on 24th November, at Gwalior.

- The Company object is to manufacture cement, limestone, lime & by-products thereof.

- The Comp. was jointly promoted by Pradeep Kumar Kasliwal & Madhya Pradesh Audyogik vikas Nigam [MPAVNs].

- The Comp. obtained mining lease for 11.878 hectares of land in village Karondia in Madhya Pradesh.

1984 - 70 shares subscribed for by signatories to the Memorandum of Association. 22,49,930 shares then issued at par of which 10,99,930 shares were reserved & allotted to promoters, directors, etc. & associates including 2,80,000 shares to MPAVN Out of remaining 11,50,000 shares, 45,000 shares to employees & business associates of Comp. & 5,00,000 shares to non-resident Indians with repatriation rights were reserved and allotted on a pref. basis. The balance 6,05,000 shares were offered for public subscription during January.

1986 - A higher production couldn't be achieved due to poor quality of lime stone & closure of plant for 2 weeks, following burning of 600 KW HT motor. Margins were under pressure due to rise in power tariff by 75% & a decline in average sales realisation by 10%.

1987 - Turnover also improved but the Comp. incurred losses due to hike in input costs.

- Effective from December clinker production was stabilized at 350 TPD level due to modifications carried out in preheater area and preheater fan.

- The report submitted by Asland SA Spain in February, suggested installation of balancing equipments & better instrumentation system in the plant to achieve 375/400 TPD of cement.

- The Comp. also approached the Government of India for endorsement of its industrial licence, to raise its capacity to 100,000 tonnes per annum.

- The Comp. had plans to undertake major modernisation and de-bottlenecking programme during 1989 to 1991 with a capacity outlay of Rs.300.00 lakhs.

1990 - The Comp. undertook a programme of substantial expansion to raise its present capacity from 66,000 MT to 1,98,000 MT per annum of portland cement at a capital outlay of Rs.24.50 crores.

- As a part of expansion, the Comp. tied up with Nihon Cement limited Japan for installation of fuel efficient DD furnace with 5 stage NSP system which would improve the product quality together with increase in capacity.

- The Comp. was also installing programmable logic controller for complete computerisation/automation of plant along with `O' Sepa, electronic packer etc.

- After the expansion, the Comp. would be in a position to produce all grades of ordinary portland cement, viz., 33, 43 and 53.

- The Comp. also proposed to instal its own captive power generation system to produce 3 MW of electricity & also to lay its own railway siding at Indore in order to reduce the cost of transportation of raw materials & finished goods.

1991 - On 28th January, the Comp. offered 11,81,200 No. of equity shares of Rs.10 each for cash at par on rights basis to the shareholders in the ratio of 1:2. [all were taken ups]. Simultaneously another 56,200 shares were offered to the employees [including Indian working directorss]/workers of Comp. on an equitable basis [all were taken ups].

- Additional, 1,19,950 shares [1,12,550 shares to the shareholders & 7,400 shares to employeess] were allotted to retain over subscription.

- 13,57,350 shares allotted at par as rights & to employees. 3,350 No. of equity shares were forfeited.

1992 - The fuel efficient dual combustion & denitration furnace with 5 stage new suspension preheater system based on latest technology supplied by Nihron Cement Co., Japan was installed.

- Also, the programmable logic controller for complete computerisation & automation of plant along with O-Sepa & electronic packer were also installed.

- The Comp. was also awarded licence for manufacture of 43 and 53 grades of cement.

- During August, the Comp. offered 21,62,400 No. of equity shares of Rs.10 each at a prem. of Rs.40/- per share as rights in prop. 3:5. All were taken up.

- Simultaneously another 1,08,120 No. of equity shares of Rs.10 each at a prem. of Rs.40/- per share were offered to employees, etc. on an equitable basis. Only 58,700 shares taken up. The balance 49,420 shares were allotted to ICICI.

1993 - The performance of Comp. was not satisfactory due to shutdown of plant for 4 months for completion of expansion project coupled with severe power cut, increase in cost of production & lower sales realisation.

1994 - In order to overcome power problem, the Comp. installed 3.5 MW Russian D.G. set which was expected to meet 60% power requirement of Company.

- The Comp. undertook a captive power generation project of 2.2 MW based on agro waste heat recovery system from Kiln & Cooler gares together with agro waste as an additional fuel, a unique technology developed by Caldyn, USA along with their counterpart M/s. Caldyn Apparatebbau GmbH.

- 4,88,520 No. of equity shares allotted at a prem. of Rs.47.50 per share to promoters, directors & their associates on pref. basis.