Ultratech Nathdwara Cement Ltd Company Summary

Ultratech Nathdwara Cement Ltd Summary

Binani Cement is one of the leading cement manufacturing company in India. The company is one of the top companies in that industry in terms of efficiency and performance. They are engaged in the manufacture of ordinary portland cement and portland pozzolana cement. They are having their production facilities in Sikar and Sirohi in Rajasthan.Binani Cement Ltd was incorporated on January 15, 1996 as Dynasty Dealer Pvt Ltd in Kolkata, West Bengal. The name changed to Binani Cement on April 23, 1998. Subsequently, the company was converted into a public company on October 6, 1998. The company is a subsidiary of Binani Industries Ltd, which has diverse manufacturing interests in cement, zinc and glass fiber. Binani Cement Ltd commenced commercial production in November 1997 at Sirohi in Rajasthan. The Sirohi facility was set up with the support of F L Smidth of Denmark and Larsen & Toubro Ltd. The Company has two limestone mines, namely Amli and Thandiberi, operated on a long term lease basis which is at a distance of 2Km and 7Km from the plant respectively.The Companys cement is marketed under the brand name of Binani over the last 8 years, has established significant brand recall especially in the Rajasthan and Gujarat. In March 16, 2007 the company completed the cement expansion project of 3.05 MTPA and the kiln was test fired and the commercial production was started from December 6, 2007.The company bagged the best overall performance shield for the year 2006 during the 30th Mines Safety Week organised by Directorate of Mines, Udaipur. In the year 2007, the companys Amli mines again bagged overall best performance (Hilly Terrain) shield for the year 2007 during the 31st Annual Mines Safety Week held under Directorate of Mines, Udaipur. In October 2007, the companys Pragati Quality Circle bagged the excellent award at the 6th Local Chapter Conventions of Quality Circles held at Rajsamand and also they won the Distinguished Award 21st National Chapter Conventions of Quality Circles at Kolkata held in December 2007.During the year 2007-08, Krishna Holdings Pte Limited (KHL) and the step down subsidiary Shandong Binani RongAn Cement Company Ltd (SBRCCL) became the subsidiaries of the company. Mukundan Holdings Ltd became subsidiary on February 27, 2008. The company has laid a Railway siding from factory to the nearest railway station Keshavganj, covering a distance of 6.5 KM. In March 2008, the company successfully commissioned the cement grinding unit at Neem ka Thana which increases the total capacity to 6 Million MTPA.The company commissioned a captive power plant having capacity of 22.3 MW during the year. Also they are in the process of setting up one more additional captive power plant having capacity of 22.3 MW at their existing location at Binanigram which is expected to be commissioned in the financial year 2008-09. The company proposes to set up a Greenfield Cement plant of 2.5 million MTPA at an estimated cost of Rs 822 crore which is proposed to be funded through a mix of debt and internal accruals. Also, they are in the process of expanding their capacity in overseas plants located in China and Dubai. The Dubai plant is expected to be completed during the financial year 2008-09.