Shree Digvijay Cement Co. Ltd Share Price

History of Shree Digvijay Cement Co. Ltd

Shree Digvijay Cement Company Limited (SDCL) was incorporated on 6th November, 1944. The Company's main business is manufacturing and selling of cement. The Company has one manufacturing facility at Sikka (via Jamnagar). The Company started commercial production of cement in 1949, marketed under the trade name 'Lotus'. A plant to manufacture asbestos cement pipes and a sheets plant was commissioned in Nov.'62, with Johns Manville Corporation, US, being the technical consultant and the sole selling agent in West Asian and African countries. From Apr.'82, Hastings Mills at Rishra, West Bengal, comprising of a jute mill, a synthetic fabric division and a coir and felt division, was amalgamated with SDCL. The synthetic division has been closed since Feb.'86. Rubberised coir product is sold ... under the brand name Rilaxon. In 1994-95, SDCL approved a Scheme of Arrangement for transfer of four of its divisions viz. Ahmedabad Cement Mill fibre products division, Shreeram Silk division and Coir & Felt division and investment in shares in Shree Synthetics and Fort William Company to Gujarat Composites with effect from 1 Jul.' 94. A Scheme of Arrangement of the Company's four divisions was made between the company and Gujarat Composite Ltd. The Scheme was completed in 1997-98.GCL has allotted equity shares in GCL capital in the ration of 1 : 3 to the members of the company as per the sceheme. Further the company has transferred the investment held in shares in other bodies corporate aggregating to Rs. 653.18 lacs to Digvijay Finlease Ltd. (DFL). In consideration DFL has allotted equity shares in DFL capital in the ratio of 1 : 2 to the member of the company. Consequently, Laxmi Asbestos Products Ltd., Indian Textile Agency Ltd. and Shree Rubcoir Mattresses (P) Ltd. have ceased to be the subsidiaries of the company. The Company has installed 3 Nos. of captive power plants each of 6 MW aggreegating to 18 MW capacity 1998-99. In 1999-2000, the company has been declared as a Sick Industrial Company as per the reference made to the BIFR and has appointed ICICI as the operating agency. The company has completed a modernisation programme in 2000-2001 with close circuiting and installation of pre-grinding system for its cement mill. During year 2007-08, Cimpor Inversiones S.A. of Spain (Cimpor) acquired 104091537 equity shares, representing 73.63% of the Company's outstanding voting Equity Share Capital and accordingly, Company ceased to be a subsidiary of Grasim and became subsidiary of Cimpor with effect from December 04, 2007. Pursuant to the Restructuring Agreement dated June 25, 2012 between Votorantim Cimentos S.A. [Votorantim], InterCement Austria Holding GmbH and Camargo Correa Cementos Luxembourg Sarl, 73.63 % of the shares of the Company got transferred indirectly from Cimpor to a non-resident holding entity i.e. Votorantim through another non-resident holding entity i.e. Cementos EAA Inversiones, S.L. through transfer of shares and two swaps of shares outside India. And resulting to the said transfer, Cimpor ceased to be a Promoter of Company and Votorantim and Cementos EAA were made the New Promoters of the Company. The Waste Heat Recovery Project was commissioned during the year 2012-13. On 16th April, 2019, True North Fund VI LLP acquired 7,72,13,644 Equity Shares representing 54.6% of the total Issued & Paid-Up Capital of the Company through Share Purchase Agreement executed on 12th November, 2018 entered into amongst True North fund VI LLP , Votorantim Cimentos EAA Inversiones S.L. & Votorantim Cimentos S.A. and consequently, True North Fund VI LLP became the Promoter of the Company effective from 30th April, 2019. During year 2020-21, SDCCL Logistics Limited was incorporated as a wholly owned Subsidiary of the Company for carrying out business in the field of logistics effective from July 28, 2020.