Trinetra Cement Ltd was originally incorporated as a Private Limited Company on March 12, 1987 under the Companies Act, 1956 as Indo Zinc Private Limited. The Company was converted into a public limited company and a fresh certificate of incorporation was issued by the Registrar of Companies, Mumbai on January 20, 1992 under the name and style of Indo Zinc Limited. The name of The Company was further changed from Indo Zinc Limited to Trinetra Cement Limited and consequently, a
Trinetra Cement Ltd was originally incorporated as a Private Limited Company on March 12, 1987 under the Companies Act, 1956 as Indo Zinc Private Limited. The Company was converted into a public limited company and a fresh certificate of incorporation was issued by the Registrar of Companies, Mumbai on January 20, 1992 under the name and style of Indo Zinc Limited. The name of The Company was further changed from Indo Zinc Limited to Trinetra Cement Limited and consequently, a fresh certificate of incorporation was issued by the Deputy Registrar of Companies, Maharashtra on March 18, 2011. Promoter of the company is ICL Financial Services Limited, the wholly owned subsidiary of the India Cements limited.
It are in the business of manufacturing and marketing of various types of cement. It has an operational cement plant with a capacity of 1.5 MTPA in Banswara, Rajasthan (“Plantâ€). It also has a long-term lease of 65.82 hectares of limestone mines (“Mineâ€). It is also in the process of constructing a 20 MW thermal power plant within the location of The Plant, which is expected to be operational by June, 2011.
It commenced commercial production of cement from The Plant in January 2011. Limestone, the key raw material used in the manufacture of cement, is obtained from The Mine, which is adjacent to The Plant location. It also has an agreement with India Cements for using their brand ‘Coromandel’ and their dealer network for the distribution and sale of cement manufactured by it.
The Company was formed in 1987 and the primary objects include manufacture and trading of zinc, brass and other ferrous and non-ferrous metals. In 1988-89, it had set up a primary zinc plant in Pithampur, Madhya Pradesh. In 1993, it raised funds through an Initial Public Offering to partly fund the construction of an electrolytic copper refining facility at Pithampur, Madhya Pradesh. This project, however, was subsequently abandoned.
In 1995, Mahi Cement Limited, which was in the process of constructing a cement plant in Banswara, Rajasthan with a capacity of 0.5 MPTA, was amalgamated with The Company. However, the Company later faced financial difficulties and it had to suspend construction of this plant. In 1998, it was classified as a sick industrial company.In 2009, The Promoter, ICLFSL acquired certain Equity Shares of the Company and subsequently entered into a share purchase agreement with the erstwhile promoters. As a result, an open offer was made to the public shareholders. All of these together resulted in ICLFSL acquiring majority stake and control of The Company. Simultaneously, the abandoned cement plant at Banswara was revived and plant capacity increased to 1.5 MTPA. The Plant has commenced commercial production in January 2011.
The Company is part of the India Cements group. The ultimate promoter, The India Cements Limited (“India Cementsâ€), is the largest producer of cement in south India by volume. India Cements owns and operates seven integrated cement manufacturing plants, which are strategically located near its own limestone deposits and two standalone grinding units, in the states of Andhra Pradesh, Tamil Nadu and Maharashtra, and has a total installed capacity of approximately 14 MTPA.
