Binani Industries Ltd

Binani Industries Ltd

Binani Industries Ltd is a holding company which operates through their subsidiaries. The company's subsidiaries include Binani Cement Ltd (BCL) Binani Zinc Ltd (BZL) Goa Glass Fibre Ltd (GGFL) BT Composites Ltd (BTCL) and Wada Industrial Estate Ltd (WIEL).Binani Industries Ltd was incorporated in the year 1962. The company was promoted by Binani Metals in technical and financial collaboration with Cominco Canada with the name Cominco Binani Zinc. In May 1991 when Cominco disinvested their holding the company was renamed as Binani Zinc. And in the year 1996 they got their present name Binani Industries Ltd.In the beginning the company manufactures zinc and its by-products sulphuric acid and cadmium. And latter they diversified into cement and glass fibre manufacture. They set up a state-of-the-art glass fibre plant at Colvale Goa with technical assistance from Bishop Technology US which is the single largest glass fibre manufacturing plant in the country. The cement division of the company was hived off and transferred to their wholly owned subsidiary Binani Cement Ltd with effect from November 1 1997. As a part of restructuring and refocusing the company transfered their glass fibre division to a wholly owned subsidiary Vishakha Enterprises (India) Ltd which was renamed as Goa Glass Fibre Ltd.The Zinc division of the company was hived off and transferred to Binani Zinc Ltd with effect form April 1 2002. In July 2003 Munga Holdings Ltd was amalgamated with Binani Cement Ltd. The paid up capital of Binani Cement Ltd has increased to Rs 4229.10 million from Rs 4000.10 million and Binani Cement Ltd has ceased to be a wholly owned subsidiary of the company with effect from July 3 2003 but continues to be a subsidiary of the company.During the year 2006-07 the moulding division of the company was hived off and transferred to their wholly owned subsidiary company BT Composites Ltd. Consequently the company ceased to have any manufacturing activity.During the year 2008-09 the Company erected and commissioned Dry fly ash handling system for cement mills; expanded railway yard by adding of railway line no. 4 for material loading in wagons; commissioned alternate fuel handling system for producing clinker Fire Hydrant system for Unit-2 was commissioned; Erection of the first 22.3 MW captive power plant was completed in March 2008. An arrangement was made for loading loose cement in bulk quantity for dispatching through tankers directly from Cement Silo.During 2009-10 the 4th Cement Mill of 110 TPH capacity was commissioned in December 2009. Packing plant expansion by installation of fifth packer and four additional truck loaders completed in January'10; 22.3 MW Captive Power Plant (Unit II) commissioned in the month of June 2009.During 2010-11 Company incorporated two wholly owned subsidiaries namely Binani Ready Mix Concrete Limited (BRMC) for manufacture of Ready Mix Concrete and aggregates and BIL Infratech Limited (BIL Infratech) engaged in the business of execution of all the group Companies projects and also to take up and execute outside projects as well. It acquired 100% stake in Composite Products Inc Minnesota USA which was made through an incorporation of an SPV Binani Composites Inc. USA which was merged with Composites Products Inc. USA. As a result the resultant Company CPI Binani Inc USA became a wholly owned subsidiary of the Company. The Company commissioned Up-gradation of existing Pre-heater fans for Unit No. 2 to increase capacity of Kiln; Modification of Raw Mill-II separator to increase capacity of the mill; Installation of pre-crushing system for reduction of feed size for Raw Mill No. 2; Up-gradation of wagon loading system by introducing third loading point with four additional wagon loaders in order to reduce rake loading time; Installation of air cooled condenser in CPP 1 to conserve water and meet statutory obligation; Installation of additional rail track as per requirement of railways and Interconnection of cement silos in packing operation for having better flexibility.During 2011-12 the Company acquired 3B Fibreglass Belgium and 3B Fibreglass Norway through its Wholly Owned Subsidiary Glass Fibre Holding I Sarl a Company incorporated in Luxembourg. It sold 49% of its equity stake in Goa Glass Fibre Limited to Glass Fibre Holding I SARL to consolidate its Glass Fibre business as well as to leverage on technology and product strength of 3B-Fibreglass. It also sold its entire stake in Binani Ready Mix Concrete Limited to Binani Cement Limited resulting into gain on above sale of shares. In 2013 it sold balance 51% stake in GGFL to 3B Binani. During 2013-14 Scintillating Buildtech Private Limited a Step-down subsidiary of Company merged with Wada Industrial Estate Limited a wholly owned subsidiary with the Appointed Date 1st November 2013 pursuant to Scheme of Amalgamation as approved by the Hon'ble Calcutta High Court. Further Wada Industrial Estate Limited was merged with the Company with the Appointed Date 1st December 2013 pursuant to the Scheme of Amalgamation approved by the Hon'ble Calcutta High Court. Further the Company's step-down subsidiaries viz. Project Bird Holdings S.a.r.l Luxembourg and Project Bird Holding II S.a.r.l Luxembourg were merged with Project Bird Holding IIIB S.a.r.l Luxembourg in December 2013.The Company which was providing Logistics Services to one of its Subsidiaries i.e Binani Cement Limited till 24th July 2017 was cquired by Ultratech Cement Limited under the CIRP process on 14th November 2018 and hence the logistics service to BCL discontinued.Pursuant to allotment of shares on November 17 2021 by Nirbhay Management Services Private Limited to M/s Belgrade Construction Private Limited the holding of company has been reduced to 9.8%. Consequently Nirbhay Management Services Pvt Ltd ceased to be a subsidiary of Company.Pursuant to the allotment of shares to M/s Mina Ventures Pvt Ltd and immobilisation of shares of Edayar Zinc Limited (EZL) EZL ceased to be a subsidiary of company w.e.f. March 04 2022.