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Saurashtra Cement Ltd.

BSE: 502175 Sector: Industrials
NSE: SAURASHCEM ISIN Code: INE626A01014
BSE 00:00 | 18 Jun 61.40 0.15
(0.24%)
OPEN

61.20

HIGH

62.25

LOW

60.50

NSE 05:30 | 01 Jan Saurashtra Cement Ltd
OPEN 61.20
PREVIOUS CLOSE 61.25
VOLUME 5918
52-Week high 102.00
52-Week low 58.65
P/E 6.79
Mkt Cap.(Rs cr) 425
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 61.20
CLOSE 61.25
VOLUME 5918
52-Week high 102.00
52-Week low 58.65
P/E 6.79
Mkt Cap.(Rs cr) 425
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

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.