Mangalam Cement Ltd Share Price

History of Mangalam Cement Ltd

Mangalam Cement Limited (MCL), was incorporated on October 27, 1976. As a B.K. Birla Group wing, the company is producing cement and Portland Pozzolana Cement (PPC) using the dry process and marketing them under the brand names of 'Mangalam and Birla Uttam'. The Company has manufacturing plants in Morak (Rajasthan) and Aligarh (Uttar Pradesh), India. The Company commenced its business on 15th January of the year 1977. The existing first plant of the company was gone to stream in March of the year 1981. Buildings, plant, machinery and railway siding of the company were revalued in January of the year 1988. In October of the year 1992, the company came out with an issue of equity shares. Commercial production in the new cement unit at Neer Shree Cement was commenced in April of the year ...1994, as increased the company's capacity from 4 lacks TPA to 10 lacks TPA. MCL bagged first prize for Reclamation and Rehabilitation of Land Degradation in the North Zone during the year 1995-96 from Indian Bureau of Mines. During the year 1996-97, the company had accredited with ISO-9002 certificate in recognition of its quality systems. In view of erosion in the entire net worth of the company by reason of providing for sales tax liability not earlier provided for, the company had registered as a sick industrial company in the year 2000. In May of the year 2002, the Board for Industrial and Financial Reconstruction (BIFR), had declared the company as sick industrial company. In the same year of 2002, MCL had submitted the Revival Package to Industrial Development Bank of India (IDBI), the Operating Agency (OA), was not accepted by them, and advised to resubmit. Hence, the company again submitted the Revised Revival Package to IDBI on 8th September of the year 2003. The revival package was accepted and BIFR sanctioned the scheme for the revival of the company. M/S IDBI was appointed as Monitoring agency during the year 2005. During the year 2006-07, the got good phase, in the year only company declared dividend to it shareholders after very long period. The Company's captive thermal power plant with capacity of 17.5 MW was commissioned during August of the year 2007 and started generating power. The Company intends to increase capacity by setting up a 1.5 to 2 million MTPA plant either at the existing site or in the Murena district of Madhya Pradesh. A memorandum of understanding has been signed with the Madhya Pradesh Government for setting up a cement manufacturing plant, which will depend on the grant of prospecting license and availability of limestone reserves proved after prospecting. 7 wind mills with a total capacity of 6.15 MW were installed at Jaisalmer in the 2008-09. All the six wind mills of 1.25 MW capacity each installed at Jaisalmer, were commissioned in June, 2010 and with the commissioning of these wind mills, total capacity of wind mill power was 13.65 MW. The second Captive Thermal Power Plant of of 17.5 MW capacity was commissioned in February, 2011. During 2014, Company started commercial production of additional clinker manufacturing capacity by 0.5 MTPA and also commenced trial run of new cement mill of 1.25 MTPA . During the year 2015, the Board of Directors approved the setting up of a New Grinding Unit at Aligarh with a capacity of 0.5 MTPA. During 2016-17, the Company commenced commercial production of the new Grinding Unit of 0.75 Million Ton Per Annum (MTPA) at Aligarh on 19th September, 2016, which as a result enhanced the overall capacity of cement from 3.25 MTPA to 4.00 MTPA. During 2018-19, the Waste Heat Recovery (WHR) plant of 11 MW capacity was installed at the existing factory at Morak, Kota. In 2020-21, the Company launched a new product, Mangalam ProMaxX in October, 2020. It fully commissioned the Waste Heat Recovery (WHR) Power Plant of 11 MW January, 2020. During the year 2021-22, the Company enhanced clinker capacity by 3 lakhs MTPA and cement capacity by 4 lakhs MTPA in June 2021 by modifications and upgradations with a capital outlay not exceeding Rs.125 crores in the existing KILN -I at Morak plant, Rajasthan. The Scheme of Amalgamation of Mangalam Timber Products Limited (Transferor) with the Company (Transferee) was approved by the Hon'ble National Company Law Tribunal (NCLT) on 7th September, 2021 by Cuttack Bench and on 3rd November, 2021 by Jaipur Bench, which became effective on 11th November, 2021. Pursuant to the Scheme becoming effective, all assets and liabilities of the Transferor Company got transferred and vested with the Transferee Company effective from 1 April, 2019. The Solar Panels of 0.50 MW has been installed at Aligarh Unit, making it fully operational in 2025.