History of Narmada Cement Comp. Ltd.

YEAR EVENTS 1977 - The Comp. was incorporated on 28th April, at Mumbai. The Comp. was promoted by Chowgule and Co. Pvt. Ltd., & Government of Gujarat. The Comp. manufacture portland cement.

1981 - Allotted 34,70,000 No. of equity shares to Chowgule and Co. Pvt. limited & 17,30,000 No. of equity shares to Gujarat Govt. 1,50,000 Pref. shares & 48,00,000 No. of Equity shares offered at par to the public in May.

1983 - 40,00,000 Rights Equity shares issued at par in prop. 2:5, 36,350 Equity shares & 690 Pref. shares forfeited.

1984 - Forfeiture on 10,725 No. of Equity shares annulled.

1985 - Forfeiture on 875 No. of equity shares & 200 Pref. shares annualled.

1988 - The Comp. came under the provisions of Sick Industrial Companies [Sp. Provisionss] Act, 1985 & the Comp. completed the necessary formalities pertaining to the Act.

1990 - The overall production could have been still higher but for reasons such as non-availability of clinker owning to Magdalla port closure for about 10 days during September-October, strike for 5 days & 6 days respectively at Jafrabad clinker plant and at Magdalla plant, etc. Also movement of cement by road was affected due to diesel shortage & that by rail due to non-availability of further rakes.

- The BIFR appointed IDBI as an operating agency which in turn submitted a rehabilitation scheme.

- 57,58,700 No. of Equity shares allotted at par pursuant to conversion of right exercised [20,00,000 shares to promoters, 35,80,000 shares to Gujarat Govt. & 1,78,700 shares to UTI.s]

1991 - The production & despatches at Magdalla were adversely affected due to go-slow tactics & strike by employees for about 25 days.

1994 - The Comp. allotted 41,40,000 No. of equity shares of Rs 10 each to the promoters. On the 24th September 1993, the promoters were allotted 100,00,000 shares of Rs 10 each. Pursuant to scheme of Rehabilitation circulated by BIFR, the Comp. allotted 200,00,000 shares of Rs 10 each to promoters.

- The Comp. issued 17,50,000 - Zero rate fully convertible debentures of Rs 100 each to the promoters. These are to be converted into 175,00,000 No. of equity shares of Rs 10 each at par after 2 years from the date of allotment. Also as per the rehabilitation scheme, the promoters were allotted 3 crore equity shares of Rs 10 each at par.

1995 - Clinker production was decreased due to a longer annual shutdown period of 38 days.

- The Comp. was proposed to set up a cement grinding unit with a capacity of 60 tonnes per hour at Jafrabad. The Company undertook the close circuiting of grinding mill at Ratnagiri to improve the quality & productivity of cement.

1996 - The Comp. was setting up facilities for production of slag cement at Ratnagiri.

- Cement grinding unit with a capacity of 60 TPH was installed and commissioned in Jafrabad. At Magdall, cement grinding mill was totally renovated by replacing girth gear, gear box & pinion.

2000 - To convert 17,50,000 Zero Percent Unsecd. FCDs into equity shares of Rs. 100/- each into equity shares of Rs. 10/- each at par.