Home  »  Company  »  OCL India Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

OCL India Ltd. Company History and Annual Growth Details

1949 - The Company was Incorporated in Orissa State.

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

- The Company's work are situated at Rajgangpur, Orissa on the main
line of S.E. Railway. The Company owns limestone quarries and
fireclay and Kaolin mines in the areas adjoining the factory.
Quartzite, the raw material for silica refractories, is obtained
from the mines owned by Dalmia Cement (Bharat) 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 Company 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 Company entered into an agreement with New Central Jute Mills
Ltd., for the purchase of their soda ash and ammonium chloride
plant at Varanasi known as Sahu Chemicals and Fertilisers. The
Company took over the plant during September and changed the name
from Sahu Chemicals and Fertilisers to the present one.

1981 - Land, buildings and plant and machinery relating to the cement
and 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 Company decided to install a new, more efficient, dry process
kiln of the 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 Company cancelled all the 40,000 - 4.5% preference shares of
Rs.100 each with effect from 1st January, and issued in lieu of
them, to the holders of the preference shares, 40,000 - 12.5%
unsecured non-convertible redeemable debentures of Rs.100 each as
fully paid-up.

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

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

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

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

- Production and 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 the cement plant at Rajgangpur to 8 lakh tonnes per
annum from 5.25 lakh tonnes per annum. The Company 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 Company 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 the said expansion plan.

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

- Necessary approvals were received for commencing new business
of computer software and 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 and animation in the number of applications
such as Education, Broadcasting, Tourism, Engineering design,
Medical imaging etc. State-of-the-art technology and equipment
were to be imported from Japan and 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 Company proposed to undertake modernisation of cement
grinding, packing and loading system.

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

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

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

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

- The Company 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 and soda ash plants.

- The Company, undertook to submit a project report to the U.P.
Govt. seeking for allocation of molasses and 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 the company's R&D unit were

- The Company 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 and operations
were adversely affected due to competition and low price

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

- The U.P. Govt. had allocated molasses and 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 and 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 the products of this Orissa Overseas

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

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

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

- 'Telecom Services India Ltd.' became subsidiary of 'Utkal
Investments Ltd.' and as such a subsidiary of the 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 Company undertook modernisation and expansion of existing
cement plant.

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

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

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

- Kashmissa Industries Ltd., and Hari Fertilisers Ltd. are also
100% subsidiaries of the company.

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

- During October/November, the Company offered 18,00,000 zero
coupon convertible debentures of Rs. 140 each (ZCCDS) 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 and 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

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

--OCL India Ltd part of the 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 the Company with effect from April 1, 2003.


-Icra assigns 'A1+' rating to OCL India


-OCL India signs MoU with Government of Orissa
Oct 28, 5:35 pm
Oct 28, 5:44 pm
Subscribe now to get personal finance updates in your inbox!