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Sagar Cements Ltd. Company History and Annual Growth Details

1981 - The Company was incorporated on 15th January at Andhra Pradesh.

- The main object of the Company is to manufacture ordinary
portland cement. The Company's cement is marketed under the
brand name 'Priya Cement'

- The Company was promoted by Mr. Muni Krishna, Mr. J. Rama Rao and
Mr. Butchaiah.

- The Company obtained a mining lease from the Andhra Pradesh
Government for mining limestone over a 1,200 acre area in village
peddaveedu, Nalgonda district.

1984 - 5,100 Shares subscribed for by the signatories to the Memorandum
& Articles of Association. 7,54,800 shares reserved and allotted
to promoters, etc., and 4,20,000 shares reserved and allotted to
APIDC. 1,40,000 shares reserved and allotted to the promoters,
P.N. Krishna and J. Rama Rao which were subscribed with the
assistances given from Risk Capital Foundation. 15,30,000 shares
offered at par for public subscription during September-October.

1986 - The Government permitted the Company to enhance its licensed
capacity to 99,000 tonnes per annum, and accordingly the
industrial licence was re-endorsed to permit maximum utilisation
of installed capacity. The Company installed some balancing
equipments and machinery with a view to economise and also to
improve efficiency.

1987 - One D.G. set was installed to supplement the available power.

1989 - Two more D.G. sets were installed and commissioned in May to
maintain the production at optimum level.

- The Company undertook another expansion scheme to enhance the
production capacity to 600 tonnes of clinker and 400 tonnes of
cement per day. It was proposed to set up a new grinding unit at
Salur in Andhra Pradesh with an installed capacity of 600 tonnes
of slag cement. An agreement was entered with Visakhapatnam
Steel Plant to supply the required slag to the unit.

- The Company proposed to diversify into manufacture of drybond
thinset mortar used in fixation of tiles, stones and marbles.
Steps were being taken to merge Sagar Laticrete Systems Ltd.
(SLS), with the Company. SLS had entered into a collaboration
agreement with Laticrete International Inc., U.S.A., for the
supply of technical know-how for the project.

1990 - Necessary land was acquired and orders were placed for core
equipments. Necessary civil works for the Salur grinding unit
were taken up and orders were placed for plant and machinery.

- 400 shares issued without payment in cash.

1992 - In June the Company offered 1,14,000-15% fully convertible
debentures of Rs.500 each as rights in the proportion 2
debentures for every 50 No. of Equity shares held (all were taken
up). Additional 17,100 debentures were allotted to retain

- Simultaneously, 5,700-15% fully convertible debentures were
offered to employees, etc., on an equitable basis. Only 5,076
debentures taken up.

- Subsequently in June, the Company offered 66,000-15% convertible
debentures of Rs.500 each out of which 3,300 debentures were
reserved and allotted on a preferential basis to employees, etc.
The balance 62,700 debentures were allotted to the public.
Additional 9,900 debentures were allotted to retain
oversubscription (196 debentures to employees and 9,704
debentures to the public).

- The full amount of Rs.500 of each debenture allotted to
shareholders as rights as also to the public will be converted
into 25 No. of equity shares of Rs.10 each at a premium of Rs.100
per share at the end of 6 months from the date of allotment.


-Sagar Cements Ltd has informed that the Industrial Development Bank of India (IDBI) has withdrawn their nominee Director Shri D Sudhakar Rao from the Board of the Company with effect from October 12, 2006.


- Sagar Cements Ltd has informed that the Board of Directors of the Company at its meeting held on July 23, 2008 has appointed Mr. Werner C R Poot as an additional Director.


- Sagar Cements Ltd has appointed Mr. Gilbert Noel Claude Natta as a Director.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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