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Mangalam Cement Ltd. Company History and Annual Growth Details

YEAR EVENTS
1976 - The company was incorporated on 27th October. The company was
promoted by Kesoram Industries & Cotton Mills Ltd. The Century
Spinning & Mfg. Co. Ltd., The Gwalior Rayon Silk Mfg. (Wvg.) Co.
Ltd., and Pilani Investment Corporation Ltd., Rajasthan State
Industrial & Mineral Development Corporation Ltd. (RIMC) also
participated in the promoters capital. The Company manufacture
portland cement by dry process.

1979 - 16 Equity shares subscribed for by the signatories to the
Memorandum and Articles of Association. 20,000 Pref. and
57,99,984 No. of equity shares issued at par through a
prospectus. Out of this the following shares were reserved for
allotment: 20,000 Pref. and 4,00,000 No. of equity shares to
Rajasthan State Industrial & Mineral Development Corporation,
Ltd. (RIMDC); 11,19,984 No. of equity shares to Kesoram
Industries & Cotton Mills, Ltd., its directors, etc. 6,00,000 No.
of equity shares to The Century Spg. & Mfg. Co. Ltd., 3,50,000
No. of equity shares to Pilani Investment Corpn. Ltd., and
2,50,000 No. of equity shares to the Gwalior Rayon Silk Mfg.
(WVG.) Co. Ltd., 30,80,000 No. of equity shares offered for
public subscription during December 1978. Pref. shares
redeemable during 27.2.1991/94 at 6 months notice.

1985 - 10,00,422 shares issued at par to Financial Institutions on
conversion of loans. 200 forfeited shares reissued or forfeiture
on them annulled.

1986 - Forfeiture on 150 No. of Equity shares annulled. Allotted
2,77,965 No. of equity shares to ICICI and 33,344 No. of equity
shares to GIC and its subsidiaries both at par in part conversion
of loans.

1987 - The Production suffered a set back and declined slightly due to
heavy power cut and shortfall in the availability of wagons for
cement despatches.

- To tide over the shortage of power, the Company installed diesel
generator sets.

- The Company evaluated the offers received for supply of plant and
machinery for expansion of capacity from 4,00,000 tonnes per
annum to 6,00,000 tonnes per annum.

- The Company examined the feasibility of setting up a new plant of
2,000 tonnes per day capacity so as to derive maximum benefits of
energy, coal and other costs.

1988 - Buildings, plant, machinery and railway siding of the Company
were revalued as on 1st January.

1989 - Production of cement declined to 3,71,658 tonnes on account of
plant shutdown for 37 days in the month of April/May. The
Japanese generating set with a capacity of 5.4 MW was
commissioned during the year.

- The Company decided to instal a new grassroot plant of 6 lakh TPA
capacity at the existing site.

- 5,300 forfeited equity shares reissued.

1992 - The Company issued 42,67,038 No. of equity shares of Rs 10 each
at a premium of Rs 50 per share on rights basis in the prop. of
3:5. All were taken up. Allotment of 16,890 shares were kept in
abeyance pending litigation.

- Another 50,000 No. of equity shares of Rs 10 each at a premium of
Rs 50 per share were offered to the employees. Only 4,700 shares
taken up. The balance 45,300 shares were allowed to lapse.

1994 - 35,00,000 No. of Equity shares of Rs 10 each (Prem. Rs 75 per
share) allotted to Financial Institutions and Mutual Funds on
private placement basis.

1996 - Severe power cut resulted in closure of Mangalam Cement Kiln for
the month of December.

1997 - Performance of the company was affected due to sluggish market
conditions and unremunerative realisations. Price of cement was
under pressure throughout the year as supply was far in excess
of demand due to addition of new capacities and poor purchases by
the Government.

- The Company proposed to expand the plant capacity by installing a
pre-calcinator.

- The Company received a letter of intent to increase the capacity
from 4,00,000 tonnes per annum to 6,00,000 tonnes per annum.

- The Company had applied for letter of intent to manufacture
acrylic fibre and acrylonitrile.

- The Company decided to import a D.G. set of 5.4 MW from Japan.
Application was also made for a letter of intent to manufacture
toluene-di-isocynate, used for the manufacture of flexible town
glass, moulded flexible looms and for paints, coating and
adhesives.

1998 - The Company issued 133,80,179-14% optionally convertible
cumulative preference shares on rights basis in proportion 1:1.
These shares are optionally convertible into equity shares on the
expiry of third, fourth and fifth year from the date of
allotment i.e. 5th November. Shareholders not opting for
conversion within the said period would be eligible for
redemption at par at the end of 60th month from the date of
allotment.

2000 - The networth of the company has been totally eroded and it has become a sick company (under SICA, 1985)

2004

-Receives Rs 119 cr dues waiver under One Time Settlement (OTS) deal with nine of the company's eleven lenders

2009

- Mangalam Cement Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 30, 2009, appointed the following two Additional Directors on the Board of the Company with immediate effect.<BR><BR>(i) Shri. Anshuman Vikram Jalan, Kolkata<BR><BR>(ii) Smt. Vidula Jalan, Kolkata.

- Mangalam Cement Ltd has informed that the Board of Directors of the Company at its meeting held on July 30, 2009, appointed the following two Additional Directors on the Board of the Company with immediate effect.(i) Shri. Anshuman Vikram Jalan, Kolkata (ii) Smt. Vidula Jalan, Kolkata.
 
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