YEAR EVENTS 1919 - The company was incorporated at Calcutta. The main objects of the Company is to manufacture textiles, rayon yarn, cement, spun pipes and fire bricks. 1948 - 16,00,000 No. of equity shares issued in prop. 2:1 in March. 1951 - 8,00,000 bonus equity shares of Rs 2.50 each issued in prop. 1:1 in July. Shares consolidated into Rs 15 each. 1954 - In March, 8 lakh bonus shares issued in prop. 1:1. Shares then consolidated into Rs 10 each. 1956 - 1 lakh right 2nd pref. shares offered at par. Only 10,000 shares take up. Balance offered to public. 1961 - The name of the company was changed to "Kesoram Industries & Cotton Mills Limited" on August 30, and the same has further changed to "Kesoram Industries Limited" on the 9th July, 1986. - The plant for manufacture of transparent paper was set up at the same location at Tribeni in June. It has the capacity to manufacture 3,600 tpa of transparent paper. 1965 - The Company took on long lease one refractory unit at Kulti, West Bengal, for a period of five years. 1969 - The Company established its, first cement plant known as Kesoram Cement at Besantnagar, District Karimnagar, Andhra Pradesh. Two more cement plants were put up at the same site and the aggregate capacity of all the three cement plants is 8,26,000 tpa. 1980 - There was a loss of production of 37 days in Cement Division due to break-down in one of the kilns. Cyclones with heavy rains and power crisis affected production. 1982 - The Company had to declare a lock-out because of labour unrest. The lock-out was lifted on 20th May, but the workmen did not return to duty as the suggestions made were not acceptable too them. After making fresh suggestions with modifications, the strike was withdrawn from 29th June. Normal working was resumed by the end of July. - The Company secured MRTP clearance to set up another cement unit at Sedam in Karnataka State with an annual capacity of 5 lakh tonnes. - A new plant and equipment were being installed to improve the quality of production. - In December, the Company issued 21,00,000-13.5% secured convertible debentures of Rs 100 each at par to the equity shareholders in the proportion 1 D: 5E. Rs 50 was payable on application and the balance by 30th June 1983. - The debentureholders would be entitled to receive one equity share of the Company at par for each debenture held on 30th September, 1983. The balance of Rs 90 per debenture would be redeemed at par in four equal instalments on the expiry of the 9th, 10th, 11th and 12th year from the date of allotment. - Out of the 21,00,000 debentures, 13,50,000 debentures were allotted to the shareholders and 3,15,000 debentures to directors, etc., employees and associates. The remaining 4,35,000 debentures were offered for public subscription. - To augment the long term resources the company issued 6,00,000 - 15% non-convertible debentures of Rs 100 each. 1983 - The Company has two wholly owned subsidiaries, namely Bharat General & Textile Industries Limited (BGTI) and KCIM Investment Ltd. - Due to competition from cheaper substitutes, the offtake of transparent paper was adversely affected. The labour trouble was amicably settled. - KCIM Investment Ltd. with an issued capital of 3,50,350 shares of Rs 10 each and 100-13% preference shares of Rs 100 each. - 21,00,000 shares of Rs 10 each allotted to convertible debenture holders at par on 1st October, 1983. 1984 - Erratic and inadequate availability of wagons adversely affected cement despatches and consequently production had to be curtailed. 1985 - The Company made a further issue of 15% non-convertible debentures for a total value of Rs 65 crores. These debentures are redeemable on the expiry of 7 years from the date of allotment of the debentures, at a premium of 5%. - On 16th February, the workmen went on strike. The Management of Textile Section declared a partial lock-out on 17th February, and a total lock-out on 24th February. After lifting of the lock-out the Textile section resumed operations on 16th May. - The prolonged lock-out coupled with rise in the cost of inputs, power and wages adversely affected working of Textile Division. - The working of refractory factory suffered due to labour problems which resulted in a lock-out from 18th October. The operations could be restored only from 15th April, 1986. - The Government agreed to derate the installed capacity of the plant from 9 lakh tonnes to 8.26 lakhs tonnes per annum until 31st March. This approval was further extended until 3rd June. 1986 - Another cement plant known as Vasavadatta Cement was commissioned by the Company at Sedam, District Gulbarga, Karnataka with annual capacity to produce 5,00,000 tonnes of cement. - The workers of the winding division went on a strike which resulted in lock-out in certain section of the mills with effect from 15th February, 1987. - The labour problem coupled with frequent power cuts and stiff competition adversely affected the working of the textile division during the year. The workers strike which commenced on 15th February, 1987 continued during 1987-88. 1987 - The shaft kiln for calcination was commissioned and the balancing equipments were installed. - During June/July, two D.G. sets of 4 MW each were commissioned and the company proposed to import one DG set of 5.4 MW. 1988 - No Production activities were undertaken due to the continued strike and lock-out. The lock-out was lifted on 15th November 1989 after reaching an amicable settlement with the workers' union. Substantial maintenance efforts were required for re-starting the machines that had remained idle for nearly 33 months. - The working of Rayon Plant suffered due to a strike by workmen followed by a lockout for about 22 days. - The working of spun-pipe unit was adversely affected due to unprecedented shortage of pig iron since August. The Company was forced to suspend production for nearly 78 days during the year. - Due to steep rise in power tariff for H.T. consumers who were not taking power at prescribed voltage, the Company during the year installed and commissioned machinery and equipment for change over from 66 KV to 132 KV. - Production was adversely affected due to closure of the plant for about 38 days for major repairs and modifications and a strike by a section of workmen of the unit during March 1989. 1989 - The Lock-out in the Rayon plant was lifted after reaching an agreement with the workers' union. - In order to finance the tyres and tubes project, the company offered during February, 22,72,727-12.5% secured fully convertible debentures of Rs 110 each for a total value of Rs 25 crores. - Out of the total issue, 1,13,636 debentures were offered for the employees (including Indian working directors)/workers of the Company on an equitable basis and 12,64,180 debentures were offered to the equity shareholders of the Company as rights in the proportion of debenture for every 8 equity shares held (all were taken up). - The balance of 8,94,911 debentures together with the unsubscribed 1,04,721 debentures of the employees' quota were offered for public subscription. Additional 1,89,627 debentures to the equity shareholders and additional 1,51,282 debentures to the Indian public allotted to retain oversubscription. - Conversion of the debentures were to take place in 3 stages as (i) a portion of Rs 35 of each debenture into 1 equity shares of Rs 10 at a premium of Rs 25 on the expiry of 6 months from the date of allotment of the debentures; (ii) a portion of Rs 35 of each debenture into 1 equity share of Rs 10 at a premium of Rs 25 on the expiry of 12 months from the date of allotment of the debentures and (iii) the remaining portion of Rs 40 into 1 equity share of Rs 10 each at a premium of Rs 30 per share between 1st April, 1991 and 1st April, 1992. 1990 - Go-slow tactics of loading labourers culminating in a strike for 11 days, power shortage, inadequate wagons supply and inferior quality of coal hindered further growth in production. - Unprecedented hike in input costs accompanied by several bandhs in Calcutta affected production adversely and led to financial losses. - Though productions showed marginal improvement, overall working was affected by hike in input costs and imposition of surcharge on petroleum products and on other items. - The Company proposed to take up the expansion programme only after commencement of production at the Birla tyre project. - The Company undertook to set up a project for the manufacture of 10 lakhs nos. per annum of each of tyres and tubes at Balasore in Orissa. - A technical collaboration agreement was signed with M/s. Pirelli, Ltd. of U.K. a tyre manufacturing firm of Pirelli group. - 99,844-11% pref. shares were redeemed by the issue and allotment of 99,844-14% pref. shares (redeemable on 31.3.1999). 26,12,360 No. equity shares allotted in part conversion of 12.5% debentures. 3,00,000-14% pref. CR allotted privately to financial institutions (redeemable after 9 years from 25.1.1991). 1991 - The Company proposed to manufacture basic bricks and necessary technology for the same was being arranged. - A letter of intent was received for doubling the capacity of Vasavadatta Cement from 5 lakh tonnes to 10 lakh tonnes per annum. - 26,06,420 No. of equity shares allotted in part conversion of 12.5% debs. 1992 - The second fluidised bed boiler was installed. A lock-out was declared in the Rayon section effective 13th April, and the same was lifted on 2nd July. - The Company undertook a programme of gradual conversion of its existing conventional spinning machines to lube spinning, superior production process etc. to improve productivity and quality. - Production was affected by poor quality of coal and inadequate wagon supply, severe power cuts etc. - During November-December, the Company issued 16,68,004-16% secured partly convertible debentures of Rs 280 each on rights basis in the proportion of 1 debenture: 10 equity shares held (all were taken up). - Another 83,400 secured partly convertible debentures were issued to the employees of the Company (only 1,750 debentures taken up). Unsubscribed portion allowed to lapse. - Part `A' of Rs 120 of each debenture was to be converted into two equity shares of Rs 10 each at a premium of Rs 50 per share at the end of six months from the date of allotment of debentures. - Part `B' of Rs 160 of each debenture was to be redeemed at par on the expiry of eight years from the date of allotment of the debentures. - 1,132 No. of equity shares allotted on part conversion of 12.5% debentures. 1993 - Both clinker and cement production were affected by major overhauling undertaken to one of the kilns and due to sluggish demand, inadequate wagon supply, severe power cuts etc. - In consultation with ICICI and other financial institutions, the tyre unit was given on lease for 3 years a consortium of companies in the form of partnership which has 4 companies including Kerosam. The business was being run under the name and style of `Birla Tyres'. 1994 - During the year steps were taken for expansion of the Vasavadatta Cement unit by 6.86 lakhs p.a. and orders for plant and machinery were placed. - During January-February, the Company offered 50,05,171-17% secured redeemable non-convertible debentures (NCDs) of Rs 100 each with a detachable warrants on rights basis in proportion 1 deb.: 4 equity share held (all were taken up). - Another 1,25,000 - 17% NCDs issued to UTI (all were taken up). Also 25,000-17% NCD issued to ICICI (all were taken up). - Each debenture of Rs 100 was to be redeemed at par in three instalments of Rs 33, Rs 33 and Rs 74 each on 31.12.1999, 31.12.2000 and 31.12.2001 respectively. 1995 - 5,00,000 Pref. shares issued paid up Rs 59. 1996 - The Textile Unit has received ISO 9002 Certificate from Messrs. D.N.V. Netherlands. - The Company proposed to modernise its spinning section. - 187,50,000 No. of equity shares issued through Global Depository Receipts. 1997 - Clinker production in Unit-I suffered due to fire in MCC panels. - A letter of intent was also obtained for establishment of a sponge iron plant with a capacity of 1,50,000 tonnes per annum in Orissa. - Kesoram Industries is highly diversified company, with business interest in cement, rayon yarn, refractories, textiles, tyres pipes etc. However, cement is the largest contributor to the turnover of the company with over 55 per cent share. 1998 - The lockout declared in the refractory unit in Kulti, Burdwan on March 29, due to "persistent industrial relations problems and was lifted on August 27, 1998. - The B K Birla-controlled Kesoram Industries Ltd proposes to take up restructuring of various divisions. 1999 - The management of Kesoram Industries Ltd, controlled by the B.K. Birla group, today declared temporary suspension of work at its textile division in the city. - The workers had resorted to an illegal strike on January 4, rendering the operations of the textile division to a grinding halt. - Kesoram Industries Ltd (KIL), have set up a joint action committee (JAC) to close in ranks and jointly tackle the situation following suspension of work at the company's textile factory from January 5. - The company undertook a modernisation and capital expenditure scheme at its rayon yarn, cotton textile and cement plants. In 1995-96, it increased the capacity of carbon-di-sulphide to 3600 tpa, sodium sulphide to 187 tpa, sulphuric acid to 36,500 tpa, viscose filament rayon yarn to 6,500 tpa. - The British Standards Institution (BSI) has awarded an ISO 9002 quality management system certificate exclusively to the corporate office of Kesoram Industries Ltd, a B. K. Birla group outfit. - The manufacturing units of Kesoram Industries, which include cement, tyre, rayon, spun pipe and foundries and refractories, have received the ISO certification. - The management of Kesoram Industries Ltd. (KIL) - a B K Birla group company - has declared suspension of work at its textile unit located in Garden Reach Road, Calcutta, January 5 onwards. - The British Standards Institution (BSI) has awarded an ISO 9002 quality management system certificate exclusively to the corporate office of Kesoram Industries Ltd, a B. K. Birla group outfit. 2000 - Kesoram Industries Ltd. of the B.K. Birla group has proposed to delist its shares from the Delhi Stock Exchange. - The company has proposed to transfer two properties, to its wholly-owned subsidiaries - Akhileshwar Properties Ltd. and Softshree Estates Ltd. for real estate development. - Kesoram Textile Mills Ltd, created last year by spinning off Kesoram Industries' textile operations, feels that it can resume operations only if workers agree to higher workloads, production-linked wages and reduction in waste. 2001 - The Company has proposed to merge its wholly-owned subsidiary -- Bharat General & Textiles Ltd. with itself to enhance the net worth by around Rs 37 crore. 2002 -Raises 42 lakh shares from open market under the buyback scheme. -FITCH gives 'Ind D1 ' rating for Rs.40cr commercial paper programme of the company. -Buys 64.36 lakh shares from retail investors through buyback. -Birla increases the stake in the company by 0.91% to 23.68 % as on sept 2002. 2003 -Appoints M/s AXC Computers Pvt Ltd as the share and Transfer agents for both physical and electronic securities. -Discontinues the scheme of buyback of its fully paid-up equity shares of Rs.10 each from open market through trading mechanism of the exchange. -Kolkota High Court approves for the scheme of amalgamation of KICM Investments Ltd. -Promoters increase their stake in the company by 0.10%. -Holdings of Private Corporate Bodies in the company edges down by 12% during the last two years. 2004 -Kesoram Industries Ltd has entered into an agreement on April 3, 2004 to hive off the refractory Division of the company on a hire purchase basis. 2003 -Kesoram Industries has recommended payment of Dividend @ Rs.2/- per shares. 2004 -Kesoram Industries acquires Assam Cotton Mills and becomes 100% subsidiary of the company. 2005 -Kesoram Ind ups stake in Mangalam Timber 2006 -Kesoram Industries has recommended payment of Dividend on ordinary Shares @ Rs 3.00 per share. 2007 -Kesoram Industries Ltd has started the Commercial production at the Unit-III in Vasavadatta Cement, Section of the Company at Sedam in Karnataka. 2008 -Kesoram Industries has declared Interim Dividend @ Rs 2.25 per share 2009 -Kesoram Industries has started Commercial Production of Clinker -Kesoram Industries has declared Interim Dividend @ Rs 2.25 per share 2010 -Kesoram Industries has declared Interim Dividend @ Rs 2.25 per share 2011 -Kesoram Inds is Installing a small Stationary Packing Unit -Shri K. C. Jain has been appointed as Whole-time Director of the Company. -Shri. Gautam Ganguli has been appointed as the Company Secretary & Compliance Officer of the company 2012 -Kesoram Industries had entered into a joint venture with Maharashtra Seamless Limited and Dhariwal Infrastructure Private Limited for working a coal block allocated to it by the Central Government in the State of Maharashtra. 2013 -Kesoram has been recommended a dividend @ Rs. 1.00 per share for the year ended March 31, 2013. -Kesoram Industries has announced Rights in the Ratio of 7:5 2014 -Mr. Amolak Preet Singh has been appointed as a Whole-Time Director on the Board of the Company effective December 01, 2014. 2021 -The company issued rights shares of Rs. 10 in the ratio of 133:274 at a premium of Rs. 40 per share. 2024 -Hon ble NCLT, Kolkata sanctioning Scheme for Demerger of Cement Division of the Company.