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Gujarat Sidhee Cement Ltd.

BSE: 518029 Sector: Industrials
NSE: GSCLCEMENT ISIN Code: INE542A01039
BSE LIVE 15:59 | 22 Sep 36.40 -2.65
(-6.79%)
OPEN

39.00

HIGH

39.00

LOW

35.85

NSE 15:31 | 22 Sep 36.60 -2.20
(-5.67%)
OPEN

39.10

HIGH

39.10

LOW

35.85

OPEN 39.00
PREVIOUS CLOSE 39.05
VOLUME 126338
52-Week high 40.85
52-Week low 22.50
P/E
Mkt Cap.(Rs cr) 314
Buy Price 0.00
Buy Qty 0.00
Sell Price 36.40
Sell Qty 3899.00
OPEN 39.00
CLOSE 39.05
VOLUME 126338
52-Week high 40.85
52-Week low 22.50
P/E
Mkt Cap.(Rs cr) 314
Buy Price 0.00
Buy Qty 0.00
Sell Price 36.40
Sell Qty 3899.00

Gujarat Sidhee Cement Ltd. (GSCLCEMENT) - Company History

Incorporated in 1973, as Cement Corporation of Gujarat, a wholly-owned subsidiary of the Gujarat Industrial Investment Corporation (GIIC), Gujarat Sidhee Cement (GSCL) was promoted by GIIC and the Mehta group. The company got its present name in Jan.'94. GSCL undertook a project to manufacture 1 mtpa of portland cement on 344 hectares land obtained at Junagadh district, Gujarat. The mining lease of 254 hectares is awaited. GSCL is a sick company registered with the BIFR since Jul.'90. Due to differences between the two promoters and the following prolonged litigation, GIIC decided to disinvest part of its holding in GSCL, in favour of the Mehta's. The Mehta group with a 38% equity stake, now exercises control over the company. GSCL came out with its first rights issue in Jan.'90, followed by a second one in Jul.'94 to pay off loans, add balancing equipment and raise its capacity from 1 mtpa to 1.2 mtpa. This increased the equity to Rs 119.08 cr. GSCL has been awarded the coveted Certificate under ISO-9002 by TUV Private Ltd., a subsidiary of RWTUV of Germany for excellence in quality management. Over the last three years, GSCL has been showing signs of recovery, with higher capacity utilisation each year. GSCL received a Certificate of Merit for 95-96 from CAPEXIL for its export performance. The company is also planning to install a captive power plant, construct a captive jetty close to the plant along with other modernisation jobs in its plant. The company is planning to go for modernisation of its Raw Mill,Preheater and clinker cooler systems.