Shree Digvijay Cement Co. Ltd
NSE: SHREDIGCEM BSE: 502180
₹67.60
(-4.32%)
Sat, 21 Feb 2026, 10:15 pm
Market Cap10.51B
PE Ratio28.24
Dividend2.11
Non-Energy Minerals
Construction Materials
24.5KCompany History
1944
- The company was incorporated at Jamnagar.
- The main objective of the company is to manufacture cement and works mines, quarries etc.
- Cement is marketed under the trade name 'Lotus'.
1949
- The factory commenced production.
1955
- 30,000 No. of equity shares issued as rights in proportion 1:2.
1956
- 40,000 Pref. shares issued at par as rights to Pre. shareholders in prop. 1:1.
- 45,000 Right Equity shares issued.
1960
- A plant for manufacturing asbestors cement pipes and sheets was originally intended to be installed by the Company's subsidiary, Laxmi Asbestos Products, Ltd.
1962
- 13,500 No. of equity shares issued at a prem. of Rs. 50 each to John Manvile Corporation.
1963
- 50,000 Right Equity shares issued.
- 1,500 No. of equity shares issued at a prem. of Rs. 50 per share to John Manvile Corporation.
1966
- 49,878 Bonus Equity shares issued in the proportion 1:4.
1979
- Laxmi Asbestos Products Ltd., is a wholly owned subsidiary of the Company.
- Shree Satyanarayan Investments Co. Ltd., became a wholly owned subsidiary of the company.
- As per the scheme of Amalgamation of Hastings Mills, Ltd., with the Company the Fort William Co., Ltd. became a subsidiary of the company.
- 49,876 Bonus Equity shares issued in the proportion 1:5.
1980
- The Company undertook to change one of its kilns to dry process with induction of latest precalcinator technology.
- The Company was granted a letter of intent for the resultant increase in capacity by 4.85 lakhs tonnes.
1981
- A letter of intent was received for expansion of asbestos cement sheet capacity by 36,000 tonnes.
- Industrial licence was also received for increasing the asbestos cement pipes capacity by 30,000 tonnes per annum.
- Johns Manville Corporation, U.S.A. are the technical consultants of the Company for the asbestos cement project.
- Government of Gujarat agreed in principle to sanction mining leases, for limestone, necessary to implement the Modernisation and expansion scheme.
1982
- In Synthetic Fabrics Division Labour indiscipline and low productivity adversely affected the working.
- A lock-out was declared from 30th March, 1983.
- The lock-out was lifted on 25th July, 1984.
- Government introduced partial decontrol of cement from 28th February, and also increased the retention price for levy cement.
- A scheme was formulated in the Synthetic Fabrics Division for installation of new automatic looms and jute dyeing machine in the process house to improve plant efficiency.
- The Company drew up a modernisation scheme for change over of one of the kilns from wet to dry process with induction of precalcination technology.
- Pursuant to the scheme of amalgamation Hastings Mills, Ltd., was amalgamated with the Company with effect from 1st April.
- 40,000 No. of Equity shares and 35,000 - 13% Pref. shares issued without payment in cash and allotted to members of Hastings Mills, Ltd.
1983
- The Company was granted a letter of intent for installing a fresh cement capacity of 12 lakh tonnes per annum in two phases of 6 lakh tonnes each at Beawar in Rajasthan.
- A new company, Shree Cement Ltd., was formed to implement Beawar Cement project.
- The Cement production went down due to load shedding and power trippings at Digvijaygram works and closure for a part of the year of the clinker grinding plant at Mumbai.
- The company decided to instal two imported diesel generating sets of 5000 KVA each to cope up with load sheddings and power cuts.
- The Company procured 61,566 No. of equity shares of Rs. 100 each in Digvijay Investments, Ltd.
1984
- The production of cement further dropped due to dismantling of a kiln of a capacity of 2 tonnes from 30th June, under the modernisation scheme.
- The Company's fixed assets except motor vessels were revalued and the net surplus arising out of this was credited to revaluation reserve.
1986
- The overall working was affected due to fall in market price as a result of creation of new capacities and relaxation in levy quota by Government.
- The lock-out in the Mumbai Cement mill was lifted on 20th October, on settlement with the employee's union.
- The Company's application for financial assistance for modernisation and rehabilitation was at an advanced stage of consideration by financial institutions and the bank.
- Synthetic Fabrics Division management was forced to declare a lock-out effective from 15th February, following labour unrest and operational constraints.
1987
- Production of clinker and cement declined due to low offtake, hike in raw materials costs and power tariff etc.
- The Company filed a petition in the Gujarat High Court for conversion of 79,940 - 5% Redeemable Cumulative Preference Shares into Non-convertible debentures.
- Sibpur Mills, Ltd. was incorporated on 23rd June, as a subsidiary of The Fort William Co., Ltd.
1988
- The Company became a sick industrial company within the meaning of section 3(i) (o) of the Sick Industrial Companies (Special Provisions) Act, 1985.
1989
- The improved unit realisation in cement sales was largely neutralised due to rise in cost of production.
- Sheet production showed a marginal improvement while that of pipes suffered a set back.
- Dividend rate on Pref. shares raised from 13 1/2% to 14% effective from 1st April.
1990
- The working of the division was expected to be constrained due to decrease in raw asbestos fibre supplied by MMTC and devaluation of Rupee.
- An agreement was reached with the unions for voluntary retirement of workmen from the Synthetic Fabrics Division.
- An agreement was signed with labour unions for increasing production in the Coir and Felt division.
1991
- The unit had to declare a lock-out from 18th April, to 6th May, following labour trouble.
- 3,39,255 Rights equity shares issued at par.
- 16,961 No. of equity shares issued to the employees.
1992
- Production decreased due to labour problem.
- The Company's application for modernisation was sanctioned by financial institutions and steps were taken to implement the scheme.
1994
- Domestic sales were affected by epidemic conditions in Surat.
- Production and sale of pipes was lower due to lack of adequate orders.
- The Company approved a scheme of arrangement for transfer of four division of the Company to Gujarat Composites Ltd.
- Equity shares sub-divided into Rs. 10 paid-up.
1995
- Coir and Felt Production was suspended due to work suspension which was lifted from 3rd September, 1996.
1996
- Production and sales of fiber was lower due to lack of adequate orders from State Water Boards.
- Johns Manville Corporation, U.S.A. are the technical consultants of the Company for the asbestos cement project.
- 5,00,000 No. of equity shares allotted at par to the FIs on conversion of rupee loan.
2006
- Shri K C Birla has been appointed as an Additional Director on the Board of the Company.
- Shree Digvijay Cement Company Ltd Issues Rights in the Ratio of 18:1
2008
- Cimpor acquired management control of Digvijay.
- Directors have been appointed on the Board of the Company: Mr. Leonard D' Costa, Mr. Napoleon De la Colina, Mr. Luis Filipe Sequeira Martins.
2011
- Appointed Mr. Suman Mukherjee hitherto working as Chief Executive Officer, as a Managing Director of the Company.
2012
- Mr. Luis Miguel Da Ponte Alves Fernandes and Mr. Antonio Carlos Custodio Do Morais Varela, as additional Directors of the Company.
2013
- Mr. Kumaresan Arcot has been appointed as an Independent Director to fill up the casual vacancy caused by the resignation of Mr. Napoleon De la Colina.
2019
- Shree Digvijay Cement Co. Ltd Received The Recognition For Outstanding Contribution In Building Saurashtra.
- Shree Digvijay Cement Co. Ltd Was Awarded 2Nd Prize In The 16Th National Award On Excellence In Cost Management 2018.
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