Saurashtra Cement Ltd Share Price

Summary

Promoted in 1956, Saurashtra Cement Ltd (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 is engaged in thebusiness of manufacturing and selling of Cement and Paints. 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.The Company commenced a 7500 tonne silo for the bulk loading of cement at its jetty in the Porbandar Port during 2004 and was made fully operational in 2006. It installed second silo having a capacity of 8000 MT at the jetty along with mechanized facility to load cement in 2006. The Companys net worth as at 30th June, 2005 had been completely eroded and the Honble BIFR declared the Company as a sick industrial undertaking vide its order dated 21st September 2006.The
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