Semac Construction Ltd Share Price

History of Semac Construction Ltd

Semac Consultants Limited was incorporated as a Private Company on May 30, 1977 under the name of Revathi Equipment Pvt. Ltd. The Company was converted into a Public Limited Company on November 4, 1977 resulting the change in name of the Company to Revathi-CP Equipment Limited and again from Revathi-CP Equipment Ltd to Revathi Equipment Ltd in 2001-02. Later, the Company name further got changed from Revathi Equipment Ltd to Semac Consultants Limited in July, 2023. The Company is engaged in the business as Engineering and Procurement Contractors (EPC), general engineers, mechanical engineers, process engineers, civil engineers, general mechanical and civil contractors, Design (covering architectural structural, MEP (Mechanical, Electrical &Plumbing), Interiors etc & warehousing storage ... solutions) and construction. The company started its manufacturing operations at Coimbatore, in Tamil Nadu and entered into a technical and financial tie-up with world renowned Chicago Pneumatic Tool Company (CP), USA for the manufacture of water well rigs, blast hole rigs, drilling accessories and allied products. CP was holding 40% of the paid-up share capital of Revathi and Revathi became a division under the Industrial Tools Division of CP, USA. The balance 60% of the paid-up share capital was with the Indian public and various financial institutions. During the year 1985-1986, the company completed the development of C40 H Blasthole Drill, T60 H Lighter Waterwell Drill and RT1500 Straight Rotary Drill. During the year 1986-1987, the company completed development of six-inch size high performance DTH Hammer. During the same year the company increased installed capacity of Hole rigs Accessories from 250 lakhs to 500 lakhs. During the year 1991-1992, the company completed and commissioned the Rs.17.5 million-expansion project. During the same year the company developed air operated Blsathole drills. During the year 1992-1993 the company developed Track Drill. During the year 1994-1995, the company developed the 6-inch DTH Water Well Drill pack age with depth capacity of 1500 ft for exports. During the year 1998-1999, the company developed of 8-inch class crawler mounted blasthole drill. During the year 1999-2000, the company developed of 6-inch class crawler mounted high-pressure DTH blasthole drill. During the year 2001-2002, Altas Copco India Ltd and Chicago Pneumatic Tool Company, USA signed a definitive share purchase agreement, the company to sell their 39.88 % stake to Utkal Investment Ltd, at a price of Rs. 234 per share. During the year 2002-2003, the company developed of 203mm dia, 500-meter depth capacity, and Truck mounted water well drill. In 2003-2004 the company commissioned four Wind turbines at Jaisalmer, Rajasthan at an investment of Rs. 116 million and in the same year the company developed of Diesel engine driven 250mm class crawler mounted Blast hole drill. During the year 2004-2005, the company increased installed capacity of wind power to 9.9 MW with additional investment of Rs. 351.6 million and in the same year the company developed of 311 mm Electronic blast hole drill, Light hydraulic Trac drill and DTH water well drill. During the year 2005-2006, the company entered into an Agreement with Bucyrus International Inc, an internationally reputed company in USA for development and marketing of specific Blast Hole drill manufactured per their specification Blast Hole drill manufactured. During the year 2006-2007, the company developed of heavy hydraulic track drill for exports and also developed of 20 CUM Concrete Pumps. During the same year the company divested preference shears held in Coromandel Electric Company Limited. During the year 2007-2008, the company set up a wholly owned subsidiary namely Revathi Drilling and Mining Limited and May 08, 2008, the company acquired 70% stake in the equity capital of Semac Pvt.Ltd. In November 19, 2008, Seamec Ltd, a subsidiary company merged with Potential Service Consultants Pvt. Ltd, a Joint Venture Company. In the same year the company acquired ten acres leasehold plot from SIPCOT at Gummidipoondi near Chennai. In February 14, 2008, the company acquired 11% in the equity capital of Potential Service Consultants Pvt. Ltd., Bangalore, a company providing Engineering design solutions in the field of construction industry for a consideration of Rs 92, 38,767. The Company already holds 48.3% in Potential Service Consultants Pvt. Ltd. In 2010, the company commissioned various new manufacturing facility. The company also acquired 20% in the equity capital of Satellier Holdings Inc, USA during the year. In 2013-14, the Company sold Gummidipondi land, which was acquired for Concreting Solutions Business. During the year 2022-23, through the Scheme of Arrangement amongst Renaissance Advanced Consultancy Limited (RACL), and Renaissance Consultancy Services Limited (RCSL), Renaissance Stocks Limited (RSL), Semac Consultants Private Limited (SCPL), Renaissance Corporate Consultants Limited (RCCL) and the Company came into effect. Consequent to the scheme of arrangement, the business of demerged undertaking of Renaissance Advanced Consultancy Limited (RACL) and the business of Renaissance Stocks Limited (RSL) was merged with Company and further the Company has demerged its business of designing, engineering, manufacturing and marketing of blast hole drills to Renaissance Corporate Consultants Limited (RCCL) (now Revathi Equipment India Limited REIL). Further, the business of Semac Consultants Private Limited (SCPL) has been merged with the Company.