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BSE: 500292 | NSE: HEIDELBERG | ISIN: INE578A01017 Market Cap: [Rs.Cr.] 1,018 | Face Value: [Rs.] 10 Industry: Cement - North India
Heidelberg Cement India Limited (MCL), a Heidelberg Cement Group Company, was promoted in 1958 by a Karnataka based industrialist in technical and financial collaboration with Kaisers of USA as a Public Limited Company.
The first one lac ton per annum dry process cement plant with an investment of Rs.220 lacs at Ammasandra Dist. Tumkur, Karnataka was commissioned in 1962. Immediately thereafter, an expansion was planned which doubled MCL's capacity to 2 lac TPA in 1966 at an investment of Rs.170 lacs Kaisers subsequently took control of the Company. Late Shri.G.D. Birla became the Chairman of the Company in 1966 and under his stewardship, the Company again doubled its capacity from 2 lac tpa to 4 lac tpa in 1968 at an investment of Rs.390 lacs MCL made steady progress and increased the capacity at Ammasandra to 6 Lac tpa with an investment of another Rs.230 lacs in 1978.
MCL, to expand, looked for a location in the North which was then facing acute cement shortage. Damoh in Madhya Pradesh was selected and a 5 lac tpagreen-field cement plant was set up at an investment of Rs.2950 lacs, which commenced production in 1983. This was a state of art first 5 stage preheaterbased technology plant in the Country which helped in maximizing thermal efficiency. Encouraged with its success MCL also modernized its Ammasandra unit at an investment of Rs.3600 lacs, which was successfully completed in January, 1989, and helped not only in increasing the efficiency but also reduced cost of production on account of savings in power and fuel consumption.
The Clinkerisation capacity at Damoh was further increased to 10 lac tpa by installing another state of art 6 stage preheated Kiln at an investment of Rs.8000 lacs, which was commissioned in 1989, which helped not only in improving the operational efficiency but also in reducing the coal consumption and enhanced productivity.
A green field 5 lac TPA grinding unit was set up at Jhansi in Uttar Pradesh at an investment of Rs.5900 lacs, which commenced production in July 1989 to take advantage of the available fly ash from the nearby located Paricha Thermal Power Plant. Jhansi was considered an ideal location in view of the fact that Uttar Pradesh is one of the biggest cement consuming states with very little production capacity and even the available capacity then was only from the State Govt. owned cement plants.
With this MCL achieved a total capacity of over 20 lac in 1989-90, with a presence both in Southern and Northern markets, which at that time only ACC enjoyed. Subsequently with up gradation and balancing at Damoh, the capacity increased to 23 lac TPA in 2004-05.
Pursuant to the Share Subscription and Share Purchase Agreement and Escrow Agreement Cement rum I B.V. (subsidiary of Heidelberg Cement AG) acquired Equity Shares from the S.K. Birla Group and its affiliates. In addition, further Equity Shares were acquired under the Open Offer giving Cement rum I B.V. 54.89% shareholding in Heidelberg Cement India Limited.
Mysore Cements Limited (MCL), a HeidelbergCement Group Company, was promoted in 1958 as a public limited company by a Karnataka based industrialist in technical and financial collaboration with Kaisers of USA. HeidelbergCement, with its core products being cement, ready mixed concrete, aggregates and related activities, is one of the leading producers of building materials worldwide. The Company produce and markets cement under the brand name of mycem. MCL's plants are located at Karnataka, Madhya Pradesh and Uttar Pradesh. The first one lac ton per annum dry process cement plant with an investment of Rs. 220 lacs at Ammasandra Dist. Tumkur, Karnataka was commissioned in 1962. Immediately thereafter, an expansion was planned which doubled MCL's capacity to 2 lac tpa in 1966 at an investment of Rs. 170 lacs Kaisers subsequently took control of the company. During the year 1974, the mining lease was acquired for limestone deposits in the area. The second hand power plant was purchased from Madhya Pradesh Electricity Board to meet 50% of the requirements of Damoh unit. MCL made steady progress and increased the capacity at Ammasandra to 6 Lac tpa with an investment of other Rs. 230 lacs in 1978. Damoh in Madhya Pradesh, a 5 lac tpa green-field cement plant was commissioned its production in the year 1983, which was set up at an investment of Rs. 2950 lacs.
MCL also modernised its Ammasandra unit at an investment of Rs. 3600 lacs, which was successfully completed in January, 1989 and also in the same year commissioned state of art 6 stage preheater Kiln at an investment of Rs. 8000 lacs. The Company received a letter of intent in the year 1990 for establishing a new cement plant in Raipur district of Madhya Pradesh with a capacity of 1.4 million tonnes per annum. The Damoh unit of the company had started to export slag cement to Bangladesh since 1992. MCL had concluded power projects in the year of 1998 to become self-sufficient in power at its three plants across the country. During the year 1999, the company made a joint venture with Nesher Israel Cement Enterprises of Israel to set up worth of Rs. 600-crore 1.5-million-tonne cement plant at Gulbarga in Karnataka. MCL had shelved its plan to sell off its plants at Jhansi, Damoh and Narsingarh in the year of 2002. During the year 2003-04, in caution of loss in cement business, the company had entered into production of sponge iron in idle Kiln at Ammasandra.
After a year, an induction furnace was added which went in to production in March of the year 2005. The sponge division of the company was discontinued in its entirety in the year 2006. A joint venture relationship was created with Heidelberg Cements Group in July of the same year 2006. During the year 2007, the company had launched 'Mycem' brand cement in the market. The BOD approved the amalgamation of Indorama Cement and Heidelberg Cement India with Mysore Cements in May of the year 2008.
According to the Individual - Audited financial statement for the Year of 2011, total net operating revenues increased with 18.66%, from INR 895.62 tens of millions to INR 1,062.7 tens of millions. Operating result decreased from INR 103.61 tens of millions to INR 77.6 tens of millions which means -25.10% change. The results of the period decreased -50.47% reaching INR 29.17 tens of millions at the end of the period against INR 58.89 tens of millions last year. Return on equity (Net income/Total equity) went from 7.52% to 3.58%, the Return On Asset (Net income / Total Asset) went from 7.24% to 1.88% and the Net Profit Margin (Net Income/Net Sales) went from 6.58% to 2.74% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 95.26% compared to 103.85% of last year.
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