Shree Digvijay Cement Co. Ltd Stock Price History & Milestones

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.

Shree Digvijay Cement Co. Ltd

Company History