History of Dalmia Cement [Bharats] Ltd.
YEAR EVENTS 1951 - The Comp. was Incorporated in the State of Tamilnadu. With its Reg.office at Dalmiapuram, Tiruchirappalli, Tamilnadu-621651
- The Company object is to manufacture cement, drainage pipes, pipes for water supply & irrigation, culverts, porcelain sanitary ware, insulated acid resisting tiles, radios, record players, tape recorders & allied instruments. The products are sold under the name `Dalmia'.
1955 - Nominal value of 59,307 preference shares of Rs.100 each & 10,59,919 No. of equity shares of Rs.10 each reduced to Rs.40 and Rs.2.50 each respectively. 69 preference & 81 No. of equity shares issued.
1956 - In October 3,56,250 right preference shares of Rs.10 each and 31,80,000 right equity shares of Rs.2.50 each offered in prop. 6 new pref. : 1 pref. Rs.40 & 3 new equity : 1 equity of Rs.2.50.
1957 - 4 equity shares of Rs.2.50 each consolidated into one equity share of Rs.10 each.
1958 - Preference shares of Rs.100 & Rs.40 sub-divided into preference shares of Rs.10 each.
1959 - 2,17,788 rights equity shares of Rs.10 each issued at par prop.1 new equity share against paid up. Value of existing equity and or deferred shares of Rs.60 or part thereof.
1962 - The Magnesite Corporation of India Ltd., a wholly owned subsidiary & manufacturing dead-burns magnesite at its plant in Salem was amalgamated with the Comp. on 1st January, 1964.
1963 - 49,925 pref. & 74,965 No. of equity shares allotted without payment in cash to members of Magnesite, Corpn. of India, Ltd on its merger in prop. 1:1 [pref.s] & 1:1 [equitys].
1964 - Defd. shares converted. 1,25,000 No. of equity shares of Rs.10 each issued to the holders of 5 lakh Defd. Shares in prop. 1:4 by capitalising the amount from the Reserve fund.
1965 - In November, the Comp. purchased a cashew factory at Kundara in Kerala state. The Cashew business is carried on by company under the name & style of Dalmia International.
1967 - The export business was extended to other commodities like coffee walnuts & black pepper.
- In April, 7,43,986 Bonus equity shares issued in the prop. 2:5.
1968 - 2,62,908 pref. shares cancelled & converted into 1,96,431 No. of equity shares on 2nd December.
1969 - 91,968 pref. shares cancelled & converted into 68,976 No. of equity shares on 22nd August.
1970 - The Comp. set up a travel agency business in New Delhi under the name & style of `Govan Travels' & it was recognised by the International Air Transport Association & also by the Department of Tourism, Ministry of Tourism & Civil Aviation, Govt. of India. Branch offices were opened at Mumbai and Chennai in 1971.
1975 - Dalmia Dairy Industries, limited [formerly Dalmia Cement, Ltd.s] ceased to be a subsidiary of Comp. with effect from 31st January.
1976 - A new office was opened at Cochin in May.
1978 - The Comp. was compelled to close its cargo business.
1980 - The possession of Ballabhgarh factory of erstwhile Telesound India, limited was taken from the Receiver from December.
- The Comp. introduced new stereo systems.
- Telesound India limited [TILs] [formerly Telefunken India Ltd.s] was amalgamated with the Comp. with the Comp. with effect from 1st January.
- In terms of scheme of Amalgamation approved by High Court of Delhi & Chennai, the Comp. allotted 1,91,985 - 11% cumulative redeemable preference shares of Rs.10 each to the former shareholders of TIL. TIL was a sick unit & was manufacturing radio receivers. After amalgamation, the manufacturing unit of TIL at Ballabhgarh became the Electronics Division of Comp. under the name & style of 'Dalmia Electronics Corporation'.
1983 - The land & buildings at Ballabhgarh, New Delhi & Mumbai were revalued as on 31st December. The net surplus arising out of this was credited to revaluation reserve.
1985 - The operation of cement division suffered due to power cuts & rise in the costs of coal & power.
- The captive diesel generating sets installed, which were originally conceived as a stand-by arrangement, had to be run throughout the year.
- Production & sales registered substantial improvement due to increased offtake of dead-burnt magnesite by refractory industry.
- The Kerala Government issued a notice for acquisition of cashew processing unit & took possession of unit on 20th February.
- The Comp. challenged the acquisition of cashew processing unit through a writ petition before the Kerala High Court and obtained a stay.
1986 - The magnesite ore beneficiation plant was commissioned in March. The mining lease of Company magnesite mines was due to expire during the year.
- In January, it was decided to suspend further activities of the merchant exports division due to the division continued unsatisfactory performance.
- Due to continued pressure of competition from kit-technology, the desired level of production & sales couldn't be achieved.
1987 - Both production & sales were adversely affected because of strike by workers for almost 45 days.
- The Comp. proposed to install a new mill house in view of the long term monoliths requirements.
- Two new Hi-Fi Ampli cassette deck music systems were introduced.
1988 - Production & sales were adversely affected due to non-availability of acceptable quality of raw magnesite in sufficient quantity from the mines.
- The Comp. executed a joint venture agreement with Industrial Promotion & Investment Corporation of Orissa limited [IPICOLs] for the manufacture of 100,000 TPA of pig iron.
1989 - Production & sales of dead-burnt magnesite did not improve much due to non-availability of acceptable quantity of raw magnesite in the Company mines.
- Due to high level of already existing clinker, stock production had to be curtailed to avoid building up to stocks to unduly high levels.
- As a measure of cost reduction & conservation of energy, a ship power recovery system was commissioned during the year. `O' sepa high efficiency separator for cement mill was installed & an order was placed for kiln supervisory control system.
- Production & despatch of cement did not improve due to prevailing competition, oil crisis & short supply of wagons.
1990 - Colour television was introduced & new economical design Hi-Fi Ampli Cassette Deck Music systems were introduced towards the end of year.
- Serious disturbances in the Northern part of country & the Gulf war affected the tourist season & the foreign exchange earnings suffered a set back.
- The multilayer ceramic capacitor plant was commissioned after receipt of requisite clearance from the State Pollution Control Board.
1991 - The Comp. installed one 4.3 MW imported diesel generator that could run on heavy fuel oil. Steps were taken to automate cement grind control for cement mills.
- The Comp. proposed to put up a Wind Mill Farm in Tamilnadu for producing power by using wind energy to be used in the cement unit.
- New models Hi-Fi Ampli cassette deck music system were introduced.
- Colour Televisions based on ET and T design were produced in small quantities.
- Approvals from Bharat Electronics & Electronics Corporation of India, limited was received.
- The Comp. had signed a Memorandum of Understanding with Gujarat Mineral Development Corporation Ltd., to jointly implement a project for manufacturing cement based on lignite fuel and limestone deposits available in Kutch district of Gujarat.
- 28,69,358 bonus shares issued in prop. 1:1.
1992 - Due to sharp decline in new orders from Departul of telecommunication for new exchanges, orders for components from Original Equipment Manufacturers declined sharply.
1993 - Introduction of many new black & white TV models.
- During April, the first phase of wind mill farm for producing 2.25 MW of electricity was commissioned.
- Effective 1st April, Vivek Ganna Ltd., were merged with the company. The Comp. took over implementation of its 2500 tonnes sugar project at Ramgarh at in Sitapur district of UP under the name & style of `Ramgarh Chain Mills'. Efforts were on to commission the plant during 1994-95 sugar season.
- Shri Rangam Investment Co., Ltd., Poonam Finance, Ltd., Anupama Investment Ltd., Kanika Investment, limited & Surya Finance Ltd. are wholly owned subsidiaries of Company.
- 19,12,905 bonus equity shares allotted in prop. 1:3.
1994 - Both production & despatches had gone up due to increased demand for cement in Kerala & Tamil Nadu.
- The Comp. has iron ore mines in the Bellary Hospet area.
- Demand for dead burnt magnesite continued to be low due to less orders from integrated steel plants. During the year Forsterite bricks were developed.
- The Dalmia Electronics Corporation unit proposed to develop and launch many new audio models in November.
- A wide range of new audio products were introduced.
- The sugar unit was commissioned in the last week of December. Delay in the commissioning of second boiler resulted in low crushing.
1995 - Chip Resistor plant orders were placed during the year.
- Production & sales of dead burn magnesite & Monoliths were affected for 33 days in April & May due to strike by workers.
1996 - Sales were affected due to reduced demand from steel and refractory manufacturers coupled with severe competition from import of Dead Burnt Magnesite also affected sales.
- Production & sales of Audito products declined due to competition from overseas producers.
1997 - Sales were affected due to recession in the Steel Industry and stoppage of plant for about 100 days.
- Dalmia Cement Bharat [Indias] Limited has proposed to the Karnataka Government to increase the capacity of its proposed foundry grade pig iron plant in Rani Bennur district of Karnataka.
- The mining activity at the Hospet unit of Comp. has been suspended consequent to the interim order of Supreme Court to stop mining in the forest area.
1998 - The Comp. has also set up sugar plant in Uttar Pradesh, which is being expanded, with cane crushing of 2,500 tonnes per day.
- Icra has assigned a double-A rating to the Rs 50 crore long-term non-convertible debenture programme of Dalmia Cement Bharat Ltd, indicating high safety. The medium- & short-term ratings have also been reaffirmed at MAA+ & A1+.
- The Comp. has planned to increase the capacity to 230,000 tonnes per annum [tpas] from the initial 180,000 tpa.
- The Comp. is also seeking a technical collaboration from Shougang of China.
1999 - The Rs 290-crore [Rs 100 crore = Rs 1 billions] Dalmia Cement [Bharats] Ltd is on the lookout for strategic alliances including acquisitions & joint ventures to be set up in the near future.
- Dalmia Cement fixed deposit programme is open for subscription. It has a MAA+ rating from ICRA.
2000 - Dalmia Cement [Bharats] Ltd has introduced Dalmia Vajram Cement.
- Mr. S. Ravi, Nominee Director of Indian Renewable nergy Development Agnecy Ltd, has withdrawn from the board effective from 7th September.
2002
-Expands its capacity stands from 10.34 lakh TPY to 12.34 lakh TPY.
2003
-RBI notifies NRI & people of Indian Origin not to purchase the shares of Comp. without obtaining prior clearance from the regulator.
2008
- Dalmia Cement Bharat Ltd has inducted Shri. G N Bajpai as a Director of Company, subject to approval of Central Government under section 259 of Companies Act, 1956.
