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Premium Industries India Ltd.

BSE: 512593 Sector: Others
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Premium Industries India Ltd
NSE 05:30 | 01 Jan Premium Industries India Ltd

Premium Industries India Ltd. (PREMIUMINDSI) - Company History

The Company was incorporated as Premium Coke Manufacturing Company Pvt. Ltd and was subsequently converted into Public Limited Company in the name and style of "Premium Industries India Limited". After incorporation in 1973 and with a Provisional SSI registration, the Company started the preliminary work for setting up the Coke Over Plant. Although the plant was ready for commercial production by mid 1975, the same was delayed due to non-availability of Coal Linkage from Coal India Ltd. It started the commercial production finally in the year 1978, after obtaining the coal linkage from coal India Ltd. and produced 451.360 MT of Coke. An agreement for permanent coal linkage was signed with Coal India Ltd., during 1979-80. After receiving the permanent SSI registration in August '81, the Company undertook construction of 12 nos. New Coke Ovens and 24 nos. Quenching Cells for doubling of production capacity and introduction of the unique Dry Quenching process (Patented by the Company as DRIKOKE process) respectively. The Company thereafter started manufacturing Coke under the brand name "DRIKOKE". During 1989-91, it undertook a modernisation scheme at a total cost of Rs. 129.05 lacs by completely revamping the production facility, leading to reduction in production time, improvement in quality and higher utilisation of inputs. Its products are supplied to the Electrode Industry as packing material for graphitization furnace and has been accepted in the market due to their properties of low atmospheric pollution and saving in energy costs. The Company proposes to diversify as a measure of forward integration into the manufacture of Portland Slag Cement based on Modern CRI Vertical Shaft Kiln (CRI-MVSK) Technology, with a capacity of 1,32,000 MTs per annum, with a provision to double the capacity at 2,64,000 MTs per annum. The production capacity in the 1st phase is 400 TPD of Slag cement and in the second phase, it is expected to be 800 TPD of slag cement. But due to sluggish market conditions in the year 1998-99, it has decided to held the project and very little indications of any change in the situation in future and hence, the company is exploring other areas of investment and industrial activities.