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HeidelbergCement India Ltd.

BSE: 500292 Sector: Industrials
NSE: HEIDELBERG ISIN Code: INE578A01017
BSE LIVE 15:58 | 20 Sep 125.45 -0.35
(-0.28%)
OPEN

126.20

HIGH

127.45

LOW

124.70

NSE 15:31 | 20 Sep 125.50 -0.40
(-0.32%)
OPEN

126.45

HIGH

128.00

LOW

125.10

OPEN 126.20
PREVIOUS CLOSE 125.80
VOLUME 9474
52-Week high 150.55
52-Week low 101.75
P/E 41.68
Mkt Cap.(Rs cr) 2,843
Buy Price 125.45
Buy Qty 85.00
Sell Price 0.00
Sell Qty 0.00
OPEN 126.20
CLOSE 125.80
VOLUME 9474
52-Week high 150.55
52-Week low 101.75
P/E 41.68
Mkt Cap.(Rs cr) 2,843
Buy Price 125.45
Buy Qty 85.00
Sell Price 0.00
Sell Qty 0.00

HeidelbergCement India Ltd. (HEIDELBERG) - Company History

Mysore Cements Limited (MCL), a HeidelbergCement Group Company, was promoted in 1958 as a public limited company by a Karnataka based industrialist in technical and financial collaboration with Kaisers of USA. HeidelbergCement, with its core products being cement, ready mixed concrete, aggregates and related activities, is one of the leading producers of building materials worldwide. The Company produce and markets cement under the brand name of mycem. MCL's plants are located at Karnataka, Madhya Pradesh and Uttar Pradesh. The first one lac ton per annum dry process cement plant with an investment of Rs.220 lacs at Ammasandra Dist. Tumkur, Karnataka was commissioned in 1962. Immediately thereafter, an expansion was planned which doubled MCL's capacity to 2 lac tpa in 1966 at an investment of Rs.170 lacs Kaisers subsequently took control of the company. During the year 1974, the mining lease was acquired for limestone deposits in the area. The second hand power plant was purchased from Madhya Pradesh Electricity Board to meet 50% of the requirements of Damoh unit. MCL made steady progress and increased the capacity at Ammasandra to 6 Lac tpa with an investment of other Rs.230 lacs in 1978. Damoh in Madhya Pradesh, a 5 lac tpa green-field cement plant was commissioned its production in the year 1983, which was set up at an investment of Rs.2950 lacs. MCL also modernised its Ammasandra unit at an investment of Rs.3600 lacs, which was successfully completed in January, 1989 and also in the same year commissioned state of art 6 stage preheater Kiln at an investment of Rs.8000 lacs. The Company received a letter of intent in the year 1990 for establishing a new cement plant in Raipur district of Madhya Pradesh with a capacity of 1.4 million tonnes per annum. The Damoh unit of the company had started to export slag cement to Bangladesh since 1992. MCL had concluded power projects in the year of 1998 to become self-sufficient in power at its three plants across the country. During the year 1999, the company made a joint venture with Nesher Israel Cement Enterprises of Israel to set up worth of Rs 600-crore 1.5-million-tonne cement plant at Gulbarga in Karnataka. MCL had shelved its plan to sell off its plants at Jhansi, Damoh and Narsingarh in the year of 2002. During the year 2003-04, in caution of loss in cement business, the company had entered into production of sponge iron in idle Kiln at Ammasandra. After a year, an induction furnace was added which went in to production in March of the year 2005. The sponge division of the company was discontinued in its entirety in the year 2006. A joint venture relationship was created with Heidelberg Cements Group in July of the same year 2006. During the year 2007, the company had launched 'Mycem' brand cement in the market. The BOD approved the amalgamation of Indorama Cement and Heidelberg Cement India with Mysore Cements in May of the year 2008.