Orient Ceratech Ltd Share Price

History of Orient Ceratech Ltd

Orient Ceratech Ltd (Formerly known Orient Abrasives Limited) was incorporated on 12 November, 1971. The Company is principally engaged in the business of production and trading of Aluminum Refractories and Monolithics Products, Mining of Bauxite Ores and Generation of Power (including windmill facilities). The Company's manufacturing facilities are located at Porbandar (Gujarat) along with thermal power generation, bauxite mines located at various sites in Gujarat and windmill facilities in the State of Rajasthan and Karnataka. The company has three divisions viz, Abrasive grains division(at Porbandar, Gujarat); Bonded Abrasive division(at Alwar Dist., Rajasthan) and Refractories division(at Alwar Dist. Rajasthan and Salem, TN). The abrasive grains division manufactures calcined ba ...uxite and aluminium oxide which are important raw materials for refractories used by the steel industry. The company has set up a Power plant at Porbandar with an installed capacity to produce 4.2 MW of power for the captive consumption by its abrasive grains division. This power plant was commissioned in August, 1998 and is now operating at full capacity. In 2004-05, the capacity of power division was doubled after commissioning of another imported reconditioned 4.5 MW DG Set at Porbandar. The Company divested its Bonded Abrasives Business w.e.f. October 1, 2006 by selling it to Grindwell Norton Ltd. It set up a thermal power plant of 9 MW capacity at Porbandar in October 2007. During 2009-10 the Company ventured into green energy projects by installing 4 Wind Turbines with a total capacity of 5.1 MW, of which 3 turbines of 1.5 MW each are installed in Rajasthan and one of 0.6 MW is installed in Karnataka. The wind farm capacity of the Company increased to 9.6 mw during the year 2010-11. Another turbine of 1.5 mw was commissioned in June 2011 thereby making the total capacity, 11.1 mw comprising of 6 mw located in Rajasthan and 5.1 mw in Karnataka. During the year 2011-12, a Scheme of Demerger was sanctioned by the High Court of Judicature at Delhi vide its order dated September 19, 2011, which was effective from October 31, 2011 and upon the scheme becoming effective, the refractory business of the Company carried at its manufacturing unit at Bhiwadi (demerged undertaking), was transferred to the Transferee Company i.e. Orient Refractories Limited with effect from April 01, 2011 (the appointed date). A subsidiary Company,Orient Refractories Ltd. ,which incorporated on November 26, 2010 for vesting the undertaking being demerged had ceased to be subsidiary of the Company during 2011-12, upon the scheme of arrangement for demerger. The Company installed wind power plants of 11.1 M.W. in Rajasthan & Karnataka during 2013-14. During 2014-2015, the existing Promoters got into a Share Purchase Agreement with Bombay Minerals Ltd. and Cura Global Holdings Ltd. on 08 June 2015, for sale of their share 25.52% shareholding in the Company and the said Agreement was acted upon on 15 July 2015. Bombay Minerals Ltd. acquired the 20.36% shareholding as per the said Agreement and accordingly, total shareholding of the Bombay Minerals Ltd. stood at 38.36%, therefore Bombay Minerals Ltd. made the Public Offer for acquisition of 26% shareholding from the Public Shareholders. Resulting to the acquisition of the said shareholding, Bombay Minerals Limited was the Promoter of the Company w.e.f. 15 July 2015; which inturn became the Holding Company of the Company effective from the aforementioned Date. In 2019-2020, Company has acquired wind power plant of 1.75 MW in Gujarat for captive consumption at Porbandar plant. It increased production capacity and installed one more block furnace for fused product production. The Company in 2020-21 had acquired 100% Equity Shares of M/s Orient Advanced Materials Private Limited (Formerly known as KMM Consultancy Private Limited), which upon the acquisition, became a wholly owned subsidiary of the Company w.e.f. June 4, 2021. OAMPL acquired the proppant manufacturing plant located at Baraya, Gujarat from Bombay Minerals Limited, Promoter Company of the Company and commenced the business of processing & trading activities from FY 2021-22. During FY 2021-22,the Company partially resumed operations Porbandar Plant to produce White Fused Alumina (WFA) and other fused products.