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श्री विष्णु सीमेंट > कंपनी इतिहास > Cement - Major > कंपनी इतिहास का श्री विष्णु सीमेंट - बीएसई: 518018, NSE: SRIVISHCEM

श्री विष्णु सीमेंट

बीएसई: 518018  |  NSE: SRIVISHCEM  |  ISIN: INE286B01015  |  Cement - Major

कंपनी इतिहास - श्री विष्णु सीमेंट
1983
 
 - The Company was Incorporated on 19th November, in Andhra Pradesh.
 The Company's object is to manufacture of portland cement.
 
 - The Company was promoted by K.S.N. Raju in association with Andhra
 Pradesh Industrial Development Corporation (APIDC) and is a part of
 the
 Raasi Group of Companies.
 
 1986 
 
 - 1,100 No. of equity shares subscribed for by the signatories to
 the
 Memorandum of Association.  183,48,000 No. of equity shares issued
 at
 par out of which the following shares were reserved and allotted:
 
 - (i) 45,00,000 shares to Raasi Cement Ltd. (promoters);
 
 - (ii) 13,76,250 shares to APIDC and
 
 - (iii) 6,22,650 shares to promoters, directors etc.
 
 - Out of the balance 1,18,50,000 shares, the following shares were
 reserved for preferential allotment:
 
 - (i) 47,40,000 shares to non-resident Indians on repatriation
 basis:
 
 - (ii) 2,37,000 shares to business associates and 9,17,500 shares to
 employees (including working directors).  The remaining 59,55,500
 shares along with the unsubscribed portion of the preferential
 quota,
 if any, were offered for public subscription during February.  Only
 a
 total 45,33,700 shares were taken up out of the preferential quota
 and
 public quota.  The balance 73,16,300 shares devolved on the
 underwriters (16,25,800 shares on IFCI, 40,64,600 shares on IDBI and
 16,25,900 shares on ICICI.
 
 1987
 
 - Due to heavy power cut as high as 60% from April, the Company was
 forced to stop the main plant and keep running only the cement mill
 to
 maintain despatches of 100-200 tonnes per day.
 
 1989
 
 - The Company came under the provisions of the Sick Industrial
 Companies (Sp. Provisions) Act 1985, due to erosion in its networth
 by
 more than 50%.
 
 1990 
 
 - Due to non-availability of coal, the kiln was stopped for about 70
 days.  The Gulf war led to spurt in petroleum prices which in turn
 resulted in a rise in the unit cost of captive power and raw
 material
 prices.
 
 - The profit margins continued to be under pressure due to increase
 in
 the cost of inputs and erratic power supply.
 
 - Forfeiture on 4,33,600 shares annulled.
 
 1992 
 
 - On 25th May, the BIFR sanctioned a rehabilitation package for the
 revival of the Company.  The salient features of package are given
 below:
 
 - (i) Repayment of term loans deferred and were made repayable in 32
 quarterly instalments at the document rate of interest, commencing
 from
 June 1993.
 
 - (ii) Interest accrued and in arrears as at 31st March 1991
 amounting
 to Rs.24.42 crores funded at 15.50% against which Rs.2.00 crores
 each
 in repayable in 1992-93 and 1993-94 while the balance repayable in
 16
 equal quarterly instalments commencing from June 1994.
 
 - (iii) Power cut restricted upto a maximum of 25%.
 
 - (iv) Sales tax arrears of Rs.1.06 crores deferred to be paid free
 of
 interest in 30 monthly instalments commencing from October 1991.
 
 - (v) Penal interest and liquidated damages upto the cut-off point
 of
 31st March 1991 amounting to Rs.41 lakhs waived.
 
 - (vi) Interest on working capital borrowings from the banks reduced
 to
 17.50%.
 
 - (vii) The promoters to bring in interest free loan/equity of
 Rs.2.28
 crores out of which Rs.28 lakhs are to be spent on balancing
 equipment.
 
 - (viii) Bankers to enhance the working capital limits to a need
 based
 level.
 
 - 59,600 No. of equity shares forfeited.
 
 1994 
 
 - Sales increased to Rs.122.23 crores due to better sales
 realisation,
 strict control on expenditure and improved operational efficiency.
 
 - The Company proposed to offer 2,00,000 CCPs to financial
 institutions
 (IDBI, ICICI, LIC, GIC and its subsidiaries) on private placement
 basis.
 
 - 59,600 forfeited equity shares reissued to IDBI.
 
 2002
 
 -India Cements decides to sell 39% stake in vishnu Cement, a
 subsidiary.
 
 -Zuari Cement decides to retain Vishnu brand of cement after its
 acquisition of 94%.
 
 -Changes in the Management Structure:
 Mr. Yves Rene Nanot ,Mr Rudolfo Danielli, Mr. Michel Lefebvre, Mr.
 Saroj Kumar Poddar
 Mr. H.S. Bawa, Mr. Suresh Krishnan, Mr. Maurizio Caneppele acquired
 as Additional Directors.
 Mr. N Srinivasan, Mr. N Ramachandran, Mr. R K Das, Mr. T S
 Raghupathy, Board approves the resignation.
 
 -Requests India Cements Ltd to continue rendering its marketing
 assistance 
 
 -Mr. Saroj Kumar Poddar, Mr. H S Bawa, Mr. R S Raghavan (Alternate to
 Mr. H S Bawa), 
 Mr. Maurizio Caneppele acquires 100 shares each.
 
 -Comes under the category of ' Potentially sick industrial company'
 with the erosion of its net worth ove 50%.
 
 -Appoints Mr Raman Pandya as the MD of the company.
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `750 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `703 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `725 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `661 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स ऑप्शंस में `861 Cr की बिकवाली की
  • MARKET CUES : स्टॉक फ्यूचर्स में `681 Cr की बिकवाली की
  • CS ON INFOSYS : Underperform रेटिंग, लक्ष्य बढ़ाकर `720/Sh
  • JEFFERIES ON INFOSYS : BUY रेटिंग, लक्ष्य घटाकर `915/Sh
  • CITI ON INFOSYS : BUY रेटिंग, लक्ष्य `900/Sh
  • UBS ON INFOSYS : Neutral रेटिंग, लक्ष्य `900/Sh

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