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Saurashtra Cement Ltd.

BSE: 502175 Sector: Industrials
NSE: SAURASHCEM ISIN Code: INE626A01014
BSE 14:11 | 08 Jul 43.50 0.60
(1.40%)
OPEN

43.90

HIGH

44.00

LOW

42.15

NSE 05:30 | 01 Jan Saurashtra Cement Ltd
OPEN 43.90
PREVIOUS CLOSE 42.90
VOLUME 23492
52-Week high 57.35
52-Week low 23.00
P/E 4.43
Mkt Cap.(Rs cr) 303
Buy Price 43.30
Buy Qty 134.00
Sell Price 43.45
Sell Qty 100.00
OPEN 43.90
CLOSE 42.90
VOLUME 23492
52-Week high 57.35
52-Week low 23.00
P/E 4.43
Mkt Cap.(Rs cr) 303
Buy Price 43.30
Buy Qty 134.00
Sell Price 43.45
Sell Qty 100.00

Saurashtra Cement Ltd. (SAURASHCEM) - Company History

Promoted in 1956, Saurashtra Cement (SCL), was set up to manufacture cement by the semi-dry process. In 1960, the Mehta group, headed by Nanji Kalidas Mehta invested Rs 50 lac in SCL. The plant is located at Ranavav, Gujarat. In 1980, the group was invited by the Government of Gujarat to invest in a joint venture, Cement Corporation of Gujarat, now called Gujarat Sidhee Cement (GSCL). The Mehta group spans over seven countries with interests in sugar, engineering, cement, electrical cables, power, alcohol, etc. SCL was the first BIFR case to be turned around without a rehabilitation package/assistance. It enjoys a market share of 23% in Gujarat. In Oct.'93, it issued rights shares and PCDs to increase its capacity from 8.63 lac tpa to 11.29 lac tpa. At present, the company markets cement under the brand name Hathi. It has entered into a technical collaboration with Fuller, US, to provide designs for plant equipment. It holds a mining lease near Ranavav for limestone quarrying. In 1992, SCL was awarded the Excellence Award for productivity, quality, innovation and management, by the Institute of Economic Studies, New Delhi. It is the largest exporter of cement clinker to west Asia and has a market share of about 33% in exports. It is in the process of expanding its capacity to 2.4 million tonnes and a captive Jetty at Porbandar, Gujarat at a cost of Rs. 250 crores. It has also installed 2 captive power plants,but unfortunately the cash disbursement from IFCI were not coming as they are facing liquidity constraints. The project is expected to be completed in 2003-04.