Kalyanpur Cements Ltd Company Summary

Kalyanpur Cements Ltd Summary

Kalyanpur Cement (KCL), which manufactures cement, was earlier known as Kalayanpur Lime and Cement till Feb.88. In 1982, KCL undertook a Rs 9.14-cr rehabilitation-cum-modernisation scheme which was completed in 1986-87. In 1988-89, KCL embarked on a modernisation-cum-expansion scheme with the assistance of the World Bank to increase the installed capacity from 4 lac tpa to 10 lac tpa. The scheme was completed in May 94 in technical and financial collaboration with Holder Bank Management and Consulting, Switzerland, at a cost of Rs 132 cr. In Nov.90, KCL offered rights which were under subscribed; the remaining shares from the rights and employees quota was issued to the collaborators, NRIs and financial institutions. After the successful commissioning of the New dry process million ton slag cement plant, during 1994-95, it continued to make efforts to optimise the production from new plant. Under financial restructuring plan as approved by the financial institutions, company has completed the rights issue of 50 lacs equity shares which has been fully subscribed.Since the losses carried forward by the company during the year 1999-2000 has eroded the companys net-worth a reference is being made to the BIFR.Consequent upon the reference made to BIFR under Section 15(1) of the Sick Industrial Companies(Special Provisions) Act, 1985, in March 2001, the company has been registered as a Sick Unit.