India Cements Ltd

India Cements Ltd

India Cements Ltd is the largest producer of cement in South India. The company has four plants in Tamil Nadu and four in Andhra Pradesh India which cater to all major markets in South India and Maharashtra. They are the market leader with a market share of 28% in the South India. They have a distribution network with over 10000 stockists. Their brands include Coromandel King-Sankar Sakthi- Raasi Gold Coromandel-Sankar-Raasi blended cements and Sulphate Resisting Portland Cement. Their product includes ready mix concrete (RMC). The company subsidiaries include Industrial Chemicals and Monomers Ltd ICL Financial Services Ltd ICL Securities Ltd ICL International Ltd and Trinetra Cement Ltd.India Cements Ltd was incorporated in the year February 21st 1946. In the year 1949 the company commissioned their first Cement plant at Sankarnagar with the installed capacity 1 lakh tonnes per annum. In the year 1963 they commissioned their second cement plant at Sankaridrug with the installed capacity 2-lakh tonnes per annum. In the year 1969 they expanded the installed capacity at Sankarnagar to 9 lakh tonnes per annum. Also they received Merit Certification for Outstanding Export Performance (1968-1969). In the year 1971 the company expanded the installed capacity at Sankari Drug to 6 lakh tonnes per annum.In the year 1990 the company acquired Coromandel Cement plant at Cuddapah. They converted the Sankarnagar Plant to Dry Process with the increased capacity of 1 million tonnes per annum. In the year 1991 they ventured into shipping and set up a shipping division. In the year 1994 they received ISO 9002 certification for Sankarnagar plant. In the year 1996 the company commenced commercial production at their green field cement plant at Dalavoi. In the year 1997 they acquired Aruna Sugars Finance Ltd and renamed it as India Cements Capital & Finance Ltd. also they acquired Cement Plant of Visaka Cement Industry Ltd at Tandur Ranga Reddy district of Andhra Pradesh. In the year 1998 the company acquired Cement Corporation of India's Yerraguntla Cement Plant at Andhra Pradesh. Also they acquired Raasi Cement Ltd. at Nalgonda District of Andhra Pradesh. In the year 1999 the company acquired Cement Plant of Shri Vishnu Cement Ltd. at Nalgonda District of Andhra Pradesh. In the year 2001 they divested their stake in Sri Vishnu Cement Ltd.In November 2004 the company commissioned the Unique Waste Heat Recovery System for generation of power from waste gas at Vishnupuram Cement Plant with the capacity of 7.7 MW. Also the company through their special purpose vehicle Coromandel Electric Co Ltd commissioned a (gas based) captive power plant at Ramanathapuram with the capacity of 17.4 MW.In the year 2007 Visaka Cement Industry Ltd was amalgamated with the company. The company converted the Sankari plant from wet process to dry process and commissioned the plant. In the year 2008 they revived their shipping business with the purchase of two ships (dry bulk carriers) with a total capacity of 79843 DWT. They completed and commenced commercial production of one million tonne grinding plant at Chennai. Also the company successfully bid for the Chennai franchise of the DLF-IPL 20/20 Cricket Tournament - 'Chennai Super Kings'. In the year 2009 the company completed and commenced commercial production of one million tonne grinding plant at Parli (Maharashtra). The company's subsidiary namely Trishul Concrete Products Ltd completed and commenced commercial production of one lakh Cu.M ready mix concrete Plant at Hyderabad (Andhra Pradesh). In March 2009 the commenced operations in the II line of 1.2 MT at Malkapur. In April 2009 they upgraded capacity of kiln I to 3000 TPD (1700 TPD) at Vishnupuram.In January 2010 ICL Financial Services Ltd (ICLFSL) the company's wholly owned subsidiary acquired 60.89% (including shares acquired under open offer) equity share capital in Indo Zinc Ltd (IZL). Consequently IZL became a subsidiary of ICLFSL and ultimate subsidiary of the company. The company set up PT. Coromandel Minerals Resources as subsidiary in Indonesia for acquiring coal concessions.During the year 2010-11 the company obtained ISO 9001 certification for quality assurance for their Dalavoi Plant in addition to their existing plants at Sankarnagar Chilamakur and Vishnupuram. In June 2010 the company completed the upgradation of capacity at Chilamakur to 4500 tonnes per day. During the year the company initiated steps to set up a division for infrastructure activities. The Division is in the process of finalizing the main areas of focus and is likely to commence activities during the current year.During the year 2017 the Company had sold 46 million KWH of power to the cement plants of The India Cements Limited located in Tamil Nadu State while the balance power of 123 million KWH was sold to other group captive consumers. In March 2017 the Company got additional allocation from Oil and Natural Gas Corporation Limited through e-tendering basis to meet its shortage of natural gas and this will help in improving the capacity utilisation of the plant further in the coming years.Pursuant to the Scheme of Amalgamation between Trinetra Cement Limited and Trishul Concrete Products Limited (Transferor Companies) with The India Cements Limited (Transferee Company) and its shareholders approved by the Hon'ble National Company Law Tribunal Division Bench Chennai vide its Order dated 20 April 2017 the Company allotted in June 2017 973544 equity shares of $ 10/- each to the erstwhile shareholders of Trinetra Cement Limited and Trishul Concrete Products Limited. The Hon'ble National Company Law Tribunal (NCLT) Division Bench Chennai has vide its Orders dated April 13 2017 and April 20 2017 sanctioned the Scheme of Amalgamation and Arrangement between Trinetra Cement Limited (TCL) (First Transferor Company) and Trishul Concrete Products Limited (TCPL) (Second Transferor Company) with The India Cements Limited (Transferee Company) and their respective shareholders subject to directions given by Hon'ble High Court of Madras on 31 January 2017 in C.P.No.171 of 2015. The said Orders were filed with the Registrar of Companies Tamil Nadu Chennai on 28 April 2017 and accordingly the Scheme became effective from the appointed date i.e. 01 January 2014.In FY 2018 the company got approval from the relevant authorities for enhancing the capacity of Dalavoi and Sankari plants in Tamil Nadu. It also obtained necessary approvals from the environment authorities for installing new energy efficient cement grinding facility at Sankarnagar replacing its old cement mills.During the year 2018 the Company sold 37 million KWH of power to the cement plants of The India Cements Limited located in Tamil Nadu State and the balance power of 164 million KWH was sold to other group captive consumersDuring the year 2018 Coromandel Minerals Pte Ltd Singapore a 100% subsidiary of the company has completed acquisition of 100% shareholding in Raasi Minerals Pte Ltd Singapore which has controlling interest in coal mines in Indonesia through step down subsidiaries PT Adcoal Energindo Indonesia and PT Mitra Setia Tanah Bumbu Indonesia. Consequent to improvement in international prices of coal PT Mitra Setia Tanah Bumbu Indonesia which owns the coalmines has mined and sold 299925 Tonnes of coal during the year 2017 including 169365 tonnes of coal sold to the company.Consequent to improvement in international prices of coal PT Mitra Setia Tanah Bumbu Indonesia which owns the coalmines has mined and sold 299925 Tonnes of coal during the year 2017 including 169365 Tonnes of coal sold to your company.During the year 2019 Springway Mining Private Limited and NKJA Mining Private Limited became subsidiaries of the Company. The Company acquired voting rights of these Companies with an objective of setting up of a Cement Plant in the State of Madhya Pradesh. The land purchase activities for plant and mines have commenced with around 30% of the land purchased sofar. The power generation from the Gas power plant at Ramanathapuram further improved during the year 2019 in the subsidiary Coromandel Electric Co Ltd. due to continuous availability of full quota of gas from Oil and Natural Gas Corporation Limited. While the Company had sold 22 million KWH of power to the cement plants of The India Cements Limited located in Tamil Nadu the balance power of 187 million KWH was sold to other group captive consumers.During October 2018 the Company sold the aircraft for a consideration of Rs. 44.16 crores and is in the process of purchasing another aircraft.Springway Mining Private Limited became wholly-owned subsidiary of The India Cements Limited with effect from 27th June 2022.In 2022-23 the Company with JSW Cement Limited (Buyer) through Share Purchase Agreement transferred its entire shareholdings in Springway Mining Private Limited (SMPL) and NKJA Mining Private Limited (NKJA) and consequently SMPL and NKJA ceased to be the wholly-owned subsidiaries of the Company effective on 10th October 2022.The Company commissioned Phase I Property development in Coimbatore in 2023.