1978
- The Comp. was Incorporated on 15th April, at Hyderabad. The
Company was promoted by Andhra Pradesh Industrial Development
Corporation limited [APIDCs], in the joint sector with N.K.P. Raju.
- The Company object is to manufacture ordinary portland cement,
pozzolana portland cement, blast furnace slag cement, masonary cement,
oil well cement, rapid hardening cement & acid resistant cement.
1979
- 11,12,000 shares taken up by promoters, directors etc. 11,57,000
shares allotted to APIDC. 25,000 pref. & 21,80,500 No. of equity
shares offered at par to public in December.
1981
- 8,90,000 Rights equity shares issued at par in prop. 1:5 in 1980/81.
1984
- Production increased marginally but profits were lower due to higher
costs of inputs.
1986
- The Comp. offered 4,00,000 - 15% secured redeemable non-convertible
debentures of Rs.100 each to the equity shareholders on a rights basis.
Debentures worth Rs.3 crores were taken up by equity shareholders.
- The Comp. acquired limestone mining lease over an area of 2,133.36
acres in Wadapalli, Irukagunda & Kothapalli villages.
- Preference dividends amounting to Rs.15,81,000 were in arrears for
the period from 1st July 1987 to 31st March 1995.
1987
- 17,80,000 bonus shares issued in prop. 1:3.
1989
- 3 more Skoda DG sets with a total capacity of 4.5 MW were installed.
1990
- Profitability also improved due to improved realisation & timely
decision to instal diesel generator sets to take care of powercuts.
1991
- The Comp. undertook the implemenation of expansion scheme by
installation of ropeway across river Krishna & certain energy saving
equipments.
1992
- Production marginally decreased due to recessionary trends and
crashing of selling prices in all the markets.
1994
- The Comp. proposed to undertake trading in sanitary wares such as
water closets, wash basin, flush tanks etc.
- Pref. shares redeemed 71,20,000 rights issued [prop. 1:1; prem.
Rs.10s]. Till date 70,80,848 shares taken up.
1995
- Raasi Ceramic Industry limited became a subsidiary of Company. RCIL
is engaged in production & sales of sanitaryware.
- 21,12,550 No. of equity shares of Rs.10 each allotted to Financial
Institutions at par on conversion of 10.65% of Funded Interest.
1996
- The Comp. proposed to set up a new cement project at Andhra Pradesh
with a capacity of about 6 lakh tonnes per annum.
- The Comp. also proposed to invest in the equity capital of Vennar
Ceramics limited which is setting up necessary facilities for refiring
high value ceramic products & also a gas based power plant of 3 MW
capacity.
- The power produced by VCL would be first utilised for its refiring
operation & the balance power would be purchased by Company.
- The Comp. acquired limestone mining lease over an area of 2,133.36
acres in Wadapalli, Irukagunda & Kothapalli villages.
1997
- Effective 31st March, Raasi Ceramic Industry limited & Telangana Paper
Mills limited were amalgamated with the company. Pursuant to the scheme
of amalgamation 30,235 No. of equity shares of Comp. were
allotted to the shareholders of erstwhile RCIL in the ratio of one
equity share of Comp. for every 64 shares of erstwhile RCIL.
- Simultaneously 21,721 No. of equity shares of Comp. were
allotted to the shareholders of erstwhile TPML in the ratio of one
equity share of Comp. for every 93 equity shares held in
erstwhile TML.
- The Indian Cements Group has acquired the controlling interest in the
company.
- 22,93,76 No. of equity shares of Rs.10 each allotted to the
shareholders of erstwhile Raasi Ceramic Industry limited & Telungana
Paper Mills limited pursuant to scheme of amalgamation with the Company
with effect from 31st March.
1998
- Raasi Cements has recently merged two sick units, Raasi Ceramics
Industry & Telangana Paper Mills, which is expected to adversely
impact the bottomline of company.
- Raasi Cements Ltd [RCLs], under the new management of India Cements
Ltd, is all set to consolidate its position by expanding its capacity
from two million tonne per annum to two-and-a-half million tonne.
- Raasi Cements is a good, profit-making Comp. with a market share of
62 per cent [both in AP & Karnatakas].
- Raasi is setting up another 6 lakh-tpa cement unit in Anantpur
[Andhra Pradeshs], & holds a substantial stake in Sri Vishnu Cements,
which will also, post-takeover, go to India Cements.
- India Cements has taken management control of Raasi Cement, the
company it recently bought out from original promoters, the
Secunderabad-based Rajus, & has announced that it is all set to
arrange an `expeditious' merger between the two companies.
1999
- India Cements [ICLs] has concluded a Rs 85 lakh voluntary retirement
scheme [VRSs] at the paper unit of Raasi Cement.
- Raasi is also promoting two more information technology [ITs]
companies, Raasi Netcom Ltd, & Raasi Information Systems Ltd, to
carry out web technology & e-commerce development work & hardware
solutions implementation, respectively.
- The financial institutions [FIss] & banks have approved the merger
of Raasi Cements Ltd [RCLs] with India Cements Ltd [ICLs] with effect
from April 1, 1998.
