Incorporated in 1973, as Cement Corporation of Gujarat, a wholly-owned subsidiary of the Gujarat Industrial Investment Corporation (GIIC), Gujarat Sidhee Cement (GSCL) was promoted by GIIC and the Mehta group. The company got its present name in Jan.94.GSCL undertook a project to manufacture 1 mtpa of portland cement on 344 hectares land obtained at Junagadh district, Gujarat. The mining lease of 254 hectares is awaited. GSCL is a sick company registered with the BIFR since Jul.90.Due to differences between the two promoters and the following prolonged litigation, GIIC decided to disinvest part of its holding in GSCL, in favour of the Mehtas. The Mehta group with a 38% equity stake, now exercises control over the company.GSCL came out with its first rights issue in Jan.90, followed by a second one in Jul.94 to pay off loans, add balancing equipment and raise its capacity from 1 mtpa to 1.2 mtpa. This increased the equity to Rs 119.08 cr.GSCL has been awarded the coveted Certificate under ISO-9002 by TUV Private Ltd., a subsidiary of RWTUV of Germany for excellence in quality management.Over the last three years, GSCL has been showing signs of recovery, with higher capacity utilisation each year. GSCL received a Certificate of Merit for 95-96 from CAPEXIL for its export performance.The company is also planning to install a captive power plant, construct a captive jetty close to the plant along with other modernisation jobs in its plant.The company is planning to go for modernisation of its Raw Mill,Preheater and clinker cooler systems.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.