History of OCL India Ltd.

YEAR EVENTS 1949 - The Comp. was Incorporated in Orissa State.

- The Company object is to manufacture cement, refractories, reinforced cement, concrete pipes etc. The Comp. uses the trade name 'Konark' for cement & 'Dalmia' for refractories.

- The Company work are situated at Rajgangpur, Orissa on the main line of S.E. Railway. The Comp. owns limestone quarries & fireclay & Kaolin mines in the areas adjoining the factory. Quartzite, the raw material for silica refractories, is obtained from the mines owned by Dalmia Cement [Bharats] Ltd.

- Preference shares are held by Govt. of Orissa.

1956 - 3,21,360 right equity shares issued at par to Equity holders in the prop. 1:2.

1958 - 5,00,000 right equity shares issued to equity holders in the prop. 1:2.

1959 - 7,50,000 right equity shares issued to equity holders in the prop. of 1:2.

1967 - In January, 4,50,000 bonus equity shares issued in the prop. 1:5.

1973 - The Comp. developed broad gauge monoblock prestressed concrete sleepers for Railways.

1977 - Production in the Mubarikpur unit remained suspended since March, for want of orders.

1980 - The Comp. entered into an agreement with New Central Jute Mills Ltd., for purchase of their soda ash & ammonium chloride plant at Varanasi known as Sahu Chemicals & Fertilisers. The Comp. took over the plant during September & changed the name from Sahu Chemicals & Fertilisers to the present one.

1981 - Land, buildings & plant & machinery relating to the cement & the refractory units which were installed upto 31st December, were revalued as on 31st December, 1985. The net surplus arising out of this was credited to the capital reserves.

1982 - The Comp. decided to install a new, more efficient, dry process kiln of capacity of 1,500 tonnes per day replacing both the existing wet process kilns. It was also decided to install at Rajgangpur two imported captive diesel generating sets of the capacity of 5,000 KVA each. These were received during 1983 and were commissioned during 1987.

1983 - The Hari Fertilisers plant had to be stopped for nearly 2 months for want of coal or due to poor quality of coal.

1984 - The Comp. cancelled all the 40,000 - 4.5% preference shares of Rs.100 each with effect from 1st January, & issued in lieu of them, to the holders of preference shares, 40,000 - 12.5% unsecured non-convertible redeemable debentures of Rs.100 each as fully paid-up.

1985 - The Comp. decided to go ahead with modernisation programme of the cement plant.

- Production & sales of Hari fertiliser division were adversely affected due to stoppage of plant operations for about 5 months on Acc. of non-availability of coke.

1987 - Two 5000 KVA D.G. set were installed at Rajgangpur & one more set was proposed to be imported.

- On 16th December, vertical roller mill & blending silo together with associated equipments were commissioned. The kiln was expected to be commissioned by end of April 1988. The Comp. proposed to take up conversion of existing slurry mills into cement grinding mill later.

- Production & sales of refractories were lower as compared to 1986, due to lock-out at the unit from 1st October, to 4th December. The lock out had been lifted since then.

- 27,00,000 bonus equity shares issued in the ratio 1:1. Allotment of 764 bonus shares to NRIs pending.

1988 - Margins, however, remained under pressure due to the introduction of total decontrol from March 1989.

- A letter of intent was received for expanding the licensed capacity of cement plant at Rajgangpur to 8 lakh tonnes per annum from 5.25 lakh tonnes per annum. The Comp. proposed to achieve this through the manufacture of Portland slag cement for which granulated slag was to be taken from Rourkela Steel plant.

- The new dry process kiln was lit on 9th June.

- The Comp. received a letter of intent for increasing licensed capacity of Rajgangpur Cement plant from 5.25 lakh to 8.00 lakh tonnes per annum through manufacture of slag cement. Necessary steps were taken for implementation of said expansion plan.

- Ageing of Hari Fetilisers affected its operations. The Comp. was hence compelled to close down the plant effective from 4th January.

- Necessary approvals were received for commencing new business of computer software & software services. A new division in the name of 'DIGITAL CENTRE' was proposed to be set up for the same. Initially, it was proposed to undertake work in computer graphics & animation in the number of applications such as Education, Broadcasting, Tourism, Engineering design, Medical imaging etc. State-of-the-art technology & equipment were to be imported from Japan & the USA for carrying out the said programme.

- 764 bonus shares allotted to NRIs.

1989 - IFCI agreed to extend the necessary financial assistance for the expansion of cement plant at Rajgangpur. Due to some delay in engineering/designing, the work of setting up slag dryer facility was delayed.

- The Comp. proposed to undertake modernisation of cement grinding, packing & loading system.

- New products such as alumina carbon shrouds, slide gate refractories, purging elements for bottom blowing technology in LD converters, etc., developed by Company R&D unit, were launched.

- A tripartite agreement was entered into on 19th October, between the Comp. & workmen & the Govt. of U.P. with regard to wages & other dues payable to the workmen pursuant to the closure.

- The Govt. of India accorded all the necessary sanctions, registrations & permissions.

1990 - Production declined due to dislocation in the manufacturers facilities. This in turn affected adversely both export performance & working results.

- The Comp. proposed to manufacture chemicals from molasses at Sahupuri. This was to make available carbon-di-oxide also which together with the bought out ammonia from nearby fertilizer factories was to make possible restarting of closed down ammonium & soda ash plants.

- The Company, undertook to submit a project report to the U.P. Govt. seeking for allocation of molasses & received the same during 1991-92. A suitable technology/technical collaborators were being selected to prepare a project report.

1991 - Price realisation was low due to fall in demand.

- New products/processes such as alumina carbon bricks for torpedo ladles, super duty silica bricks for glass furnaces, coke oven gunning materials, lance pipes, tar ramming mass for converters, zircon militate quality bricks for feeder channel blocks for glass industry etc. developed by company R&D unit were launched.

- The Comp. entered into a collaboration agreement with M/s. Tokyo Yogyo Co. Ltd., Japan to improve the quality of Magnesia carbon bricks.

1992 - The demand for cement continued to remain slack & operations were adversely affected due to competition & low price realisation.

- The Comp. entered into another technical collaboration agreement for castable, precast shapes & lance pipe with Tokyo Yogyo Co. Ltd., Japan.

- The U.P. Govt. had allocated molasses & industrial alcohol for manufacture of alcohol based chemicals. Meanwhile the allocation of molasses was being reassessed due to changes in the import policy, lowering of duties & the pressures on domestic prices of end products.

- Value of exports were low due to severe recession in Japan, which was the main market for products of this Orissa Overseas division.

- The project was being reasessed due to changes in the import policy, lowering of duties & the pressures on domestic prices of end products.

- On 13th May, the Comp. entered into an agreement to purchase 25% of share capital of `Softek Private Limited' which was engaged in the writing & marketing of software.

1993 - `First Capital India Ltd.' engaged in the business of financial services became subsidiary of company.

- 'Telecom Services India Ltd.' became subsidiary of 'Utkal Investments Ltd.' & as such a subsidiary of Company.

1995 - New generation monolithic refractory products like castables, precast blocks, lance pipes etc. manufactured with technology from TYK Corporation, Japan were successfully introduced.

- The Comp. undertook modernisation & expansion of existing cement plant.

- The Comp. also undertook expansion & modernisation of existing Refractory plant by setting up of additional manufacturing facilities & modernising the existing one.

- Utkal Investments Ltd., is a wholly owned subsidiary of the Company.

- Konark Minerals Ltd., is also a wholly owned subsidiary of the Company. This subsidiary was to undertake mining of fireclay, quartzite, chromite, etc., & supply the same to the company's refractories.

- Kashmissa Industries Ltd., & Hari Fertilisers limited are also 100% subsidiaries of company.

1996 - Effective 15th January, the name of Comp. was changed from `Orissa Cement Ltd.' to OCL India Ltd.

- During October/November, the Comp. offered 18,00,000 zero coupon convertible debentures of Rs. 140 each [ZCCDSs] for cash at par with one Detachable warrant attached thereto on right basis in the ratio of one ZCCD for every three equity shares held. The debentures was to be automatically & compulsorily converted into one equity shares of Rs. 10 each at a prmeium of Rs. 130 per share on 1.1.97. All were accepted.

- 16,37,366 Shares issued on conversion of zero coupon convertible debentures.

1997-OCL India Ltd a Dalmia group Comp. inaugurated its new cement & grinding plant thereby expanding the installed capacity of plant to one million tonnes from 700 000 tonnes.

--OCL India Ltd part of Dalmia group of companies has bagged a $3-million order for industrial ceramics from South Korean steel major Posco.

2003 - OCL India Ltd has informed BSE that Shri V P Sood as Wholetime Director of Comp. with effect from April 1, 2003.

2004

-Icra assigns 'A1+' rating to OCL India