YEAR EVENTS 1938 - The Company was incorporated on 6th August, as a Public Limited Company at Bhopal (M.P.). The Company manufactures and deals in straw board, mill board, duplex board, straw paper, corrugated rolls, wrappers, etc. Some of the trade names used are `Bhopal Straw Boards', `J.K. Mill Board'. The Company also manufactures high grades of writing and printing papers and cement. Cement is sold under the brand name `Lakshmi Cement'. 1939 - 15,000 Right Equity shares offered at par in prop. 1:1. 1949 - 75,000 Bonus equity shares issued in propn. 1:1. 1957 - Rate of dividend of Preference shares increased. 1959 - The Company embarked on a new paper mill project in Orissa under the name of J.K. Paper Mills. The Mill was commissioned in 1962. 1960 - 75,000 Pref. Shares and 12,50,000 No. of equity shares issued at par on Rights basis in prop. 1:2 and 25:3 respectively. 1965 - Partly paid Pref. & Equity shares fully called up on 27.2.1961. 1967 - In February 5,60,000 bonus equity shares issued in propn. 2:5. 1971 - 20,000-9.3% Pref. shares issued in August. 75,00,000-9.1% redeemed on 31.12.1971. 1972 - 11,30,000 bonus equity shares issued in propn. 1:2. 1973 - In June, 55,000-9.5% Pref. shares issued at par. 1974 - The company holds 6,298 No. of equity shares out of 10,000 shares issued by the subsidiary-Bhopal Oil & Flour Mills Ltd. The name of this subsidiary was changed to Bhopal Udyog Ltd. - Mayfair Finance Ltd., Sidhi Vinayak Investment Ltd., Terrestrial Finance Ltd., and Yoshodhan Investment Ltd., are wholly owned subsidiaries of the Company. 1975 - Dena Bank Ltd., was amalgamated with the Company with effect from 1st July. Consequent upon this merger, shareholders of Dena Bank Ltd., were allotted during 1976. - Madhya Pradesh Industries Ltd., was amalgamted with the Company effective from 1st April. 1976 - Allotted 96,000 No. of equity shares to IFCCI and 64,000 No. of equity shares to LIC (Prem. Rs 2.50 per share) on part conversion of their loans. 4,57,984 No. of equity and 22,899-11% Pref. shares allotted without payment in cash to shareholders of Dena Bank, Ltd., on its merger. 1977 - 5,000-7.8% Pref. and 1,95,552 No. of equity shares allotted in December to members of Madhya Pradesh Industries, Ltd., on its merger in the prop. 1:1 Pref. and 1:5 Equity. 1978 - 3,16,650 No. of equity shares issued (Prem. Rs 10 per share) in conversion of loans/debentures in 1985. 20,000-9.5% pref. shares redeemed on 2.8.1986. 1979 - The Company received a letter of intent to set up a cement plant near Banas, a notified backward area in Sirohi District (Rajasthan). 1981 - The Crusher plant was commissioned in December. - During August, the Company issued at par 2,00,000-12% secured debentures of Rs 500 each with an option to receive 25 No. of equity shares of Rs 10 each at a premium of Rs 10 per share, per debenture in lieu of Rs 500 already paid on each debenture, such option being exercisable within a period of 90 days after the expiry of 3 years from the date of allotment of debentures. - The entitlement of shares will stand augmented in proportion to any future bonus issue of equity shares. The debentures are redeemable in three annual instalments of Rs 100, Rs 200 and Rs 200 at the end of the 10th, the 11th and the 12th years respectively from the date of allotment. 1982 - The company entered into another core sector industry - Cement by setting up a cement plant known as "Lakshmi Cement" in the "Zero Industry" district of Sirohi (Rajasthan) present capacity of Laxmi Cement is 5.8 Lac tpa. 1983 - Effective from 15th August, the unit was closed down due to mounting losses. A tripartite settlement was arrived at with the workers regarding retrenchment. - The Company issued 5,00,000-15% secured non-convertible debentures of Rs 100 each by way of rights with a view to augment the working capital requirements and partly to meet the normal capital expenditure. - The Company issued 15,00,000-14% secured non-convertible debentures of Rs 100 each aggregating to Rs 15 crores by way of rights to the existing shareholders to meet part of the cost of the project of the Audio Magnetic Tape and expansion project at J.K. Paper Mills. - These debentures are redeemable at a premium of Rs 5 per share in three equal instalments of Rs 35 each payable at the end of 7th, 8th and 9th years from the date of allotment. 1985 - In February, the Bhopal Mill workers resorted to agitation and work-to-rule resulting in temporary closure of the factory. 1986 - The production on Machine No. 2 of the Board Mill was suspended from 2nd December, due to certain technical problems. - 52,92,175 No. of equity shares issued (Prem. Rs 10 per share) in conversion of 10.5% bonds. 3,23,500 No. of equity shares issued (Prem. Rs 10 per share) in conversion of loans/debentures in 1985. 20,000-9.5% Pref. shares redeemed on 2.8.1986. 1987 - The production of Machine Nos. I and III were also suspended. After reaching a tripartite settlement with the trade union, Machine Nos. II and III were closed. Machine No. 1 viz., Straw Board Machine was leased to another company with effect from 1st April, 1988. 1988 - A major part of the modernisation and renovation programme was completed. In addition, a new paper machine for manufacture of airmail, bond and other speciality papers was commissioned. - A balancing-cum-modernisation scheme to double the capacity of the plant was undertaken. - The Company received a letter of intent for the manufacture of 60,000 tonnes per annum of Linear Alkyl Benzene (LAB) in U.P. 1989 - The Company undertook a scheme for pulp augmentation to augment the availability of pulp at the paper mills. - The Company undertook to expand its capacity at the cement plant at Basarthgarh, district Sirohi, Rajasthan from 6 lakh TAP to 16 lakh TPA along with modernisation of some facilities. - The Company proposed to launch blank audio cassettes in the market. - The Company proposed to import the main raw material n-paraffin as the Government did not permit the Company to take recourse to own manufacture. 1990 - The Company issued 10,00,000-14% secured non-convertible debentures of Rs 100 each on private placement basis. 1991 - The Company introduced Grade 43 cement, which was well received in the market due to its high compressive strength and earlier setting time. - A balancing-cum-augmentation scheme was under implementation. - The Company in association with J.K. Industries, Ltd. (JKIL) took over the management and rehabilitation of Central Pulp Mills, Ltd. pursuant to an order by BIFR for rehabilitation of CPM. CPM has an installed capacity of 40,000 TPA of pulp and paper. The Company is to provide the necessary technical know-how and also participate financially to the said scheme. - The Company is to provide the necessary technical know-how and also participate financially to the said scheme. Of the two paper machines, one was commissioned by the end of 1992 while the second became operational in the latter half of 1993. 1992 - During November-December, the company issued the following shares/debentures. - (i) 60,81,517 Rights equity shares of Rs 10 each for cash at a premium of 80 per share and in proportion 3:5 (all were taken up). - (ii) 3,05,000 No. of equity shares of Rs 10 each were offered to employees' at a premium of Rs 80 per share on an equitable basis (all were taken up). - (iii) 25,33,850 No. of equity shares of Rs 10 each issued at a premium of Rs 95 per share to Companies persons of the management group on a preferential allotment basis (all were taken up). - (iv) 45,61,138-14% secured partly convertible debentures of Rs 270 each as rights to equity shareholders in proportion 9 debentures : 20 No. of equity shares held (all were taken up). - Rs 90 of the face value of each debenture was to be converted into one equity share of Rs 10 each at a premium of Rs 80 per share after six months from the date of allotment of debentures. - Remaining Rs 180 of the face value of each debenture was to be redeemed at par in three equal annual instalments of Rs 60 each on the expiry of 7th, 8th and 9th year respectively from the date of allotment of debentures. - (v) 38,00,949-16% non-convertible debentures of Rs 130 each with detachable warrants as rights to the equity shareholders in the proportion of 3 debentures: 8 equity shares held (all were taken up). - (vi) 9,50,000-16% non-convertible debentures of Rs 130 each with detachable warrants to the management group on preferential allotment basis (all were taken up). Each debenture was to be redeemed at par in three annual instalments of Rs 40, Rs 40 and Rs 50 at the expiry of 7th, 8th and 9th year respectively from the date of allotment of debentures. - Each warrant entitles the holder to apply for allotment of one share of Rs 10 each at a premium of Rs 120 per share on the expiry of 36 months from the date of allotment of debentures. 1994 - A new paper machine, an imported cutter for automatic cutting and packaging of paper was commissioned. - A new pulp mill of 300 TPD capacity based on latest international technology was to be installed. Augmentation of paper capacity by 50,000 tonnes to 1.25 lakh tonnes by upgrading some of the existing paper machines and by installation of a new machine was undertaken. - The new Cement Unit No./2 of 9 lakh tonnes capacity set up with technical assistance of Blue Circle Industries Plc U.K. was commissioned. With a view to further consolidate the cement capacity, another new cement unit No.3 was to be set up. - The Company issued on 17th September, 42,13,400 No. of equity shares of Rs 10 each for cash at a premium of Rs 168 per share to the management group of J. K. Industries Ltd. on private placement basis. - During October, the Company offered 68,75,000 GDR at an issue price of US $ 8.00 representing 68,75,000 Shares. - During July, the name of the company was changed from Straw Products Ltd. to J.K. Corp. Ltd. 1995 - Capacity of paper was increased from 75,500 tonnes to 90,000 tonnes by balancing two of its paper machines. The Company proposed to increase the paper capacity from 90,000 tonnes to 1,60,000 tonnes in the second phase. - The installation of a new unit near the existing location was in advanced stage of implementation. - The Company through its ongoing schemes undertook increase capacity of PSF by 10,000 TPA and the overall capacity from 28,200 tonnes to 38,100 TPA by the third quarter of 1996 with a view to improve the performance of the company. - During the last quarter of the year the strike/lockout in the factory was called of and normalcy was restored. - Pursuant to a scheme of amalgamation as suggested by BIFR of OSL with the Company, 35,57,407 No. of equity shares were allotted to erstwhile shareholders in proportion 13.5 shares of OSL to 1 equity share of the Company. Another 66,64,682 No. of equity shares were allotted on conversion of loans of J.K. Corp. Ltd. at the rate of Rs 135 per share. 1996 - A new FBC Boiler was commissioned and captive power generation was enhanced which would result in lowering the cost of energy. - The Company undertook to set up a project for the manufacture of audio-magnetic tape at Surajpur in U.P. in technical collaboration with a reputed Japanese company. - The Capacity was enhanced from 2,592 MRM to 3,240 MRM per annum. - The Company issued the following preference shares: (a) 12,00,000-17% cumulative preference shares of Rs 100 each of which 2,00,000 shares, 5,00,000 shares, 2,00,000 shares were to be redeemed on 13.12.1977, 17.12.1997 & 16.2.1998 respectively. (b) 1,00,000-16.5% preference of Rs 100 each were issued and there were to be redeemed at par on 3rd June, 1998. (c) 2,00,000 17.5% preference shares of Rs 100 each were issued and there were to be redeemed at par on 7.1.1998. (c) 3,00,000-16% cumulative preference shares of Rs 100 each were issued of which 1,00,000 shares were to be redeemed on 24.3.1998 and remaining 2,00,000 shares on 8.4.1998. (e) 2,00,000-16.75% cumulative preference shares were issued and these were to be redeemed on or after 5.2.98. 1997 - The Company installed the state-of-the-art new Pulp Mill with an installed capacity of 1,27,000 t.p.a. - The J.K. Batteries Division was formed consequent upon the amalgamation of Madhya Pradesh Industries Ltd., with the Company. - The company has issued 2,00,000-14.5% cumulative preference shares of Rs 100 each. 1998 - As on 31st March, a sum of Rs 634.45 crores was outstanding against term loans from financial institutions. - Orissa Synthetics Ltd (OSL), which was merged with JK Corp earlier, has been severely hit by the sluggish market conditions for polyester over the last two years. - The company is amongst the two largest producers of super-high-bright maplitho bomb and air mail varieties. - J K Paper mills has received distinction of being the first paper mill in India to have been accredited with ISO 14001 environment management system and is amongst the very few similarly accredited paper mills in Asia. - The company has been continuously introducing the latest technological innovations in the paper industry directed at optimising raw material usage, reducing water usage, minimising fossil fuel usage, eliminating hazzardous waste, and reducing emissions. - The rating of JK Corp Ltd's (JKCL) Rs.616.8 million debenture programme has been downgraded by Crisil to BBB from A-. The rating of JKCL's Rs.820 million partly convertible debenture issue has also been downgraded to BBB from A. 1999 - At present, the company has a manufacturing capacity of 90,000 tpa of paper, 1.27 lakh tonnes of pulp and another 47,000 tonnes of paper capacity through the Central Pulp Mills Ltd, which it controls. - To add to the company's woes, its paper mill was under lock-out for two and half months early this year following a strike by workers. - JK Corp's performance has also been adversely affected by lower realisations and increased cost of production into he cement division. - The company is also setting up a new facility for non antibiotics and intermediates at its plant at Gajraula, Uttar Pradesh. - JK Corp has signed an MoU with a Reliance group company for the divestment of Orissa Synthetics. - Pending completion of the formalities for the transfer of the polyester unit, the company had entered into a job conversion agreement with a Reliance group company. - As part of its plan to concentrate on the cement division, JK Corp had earlier decided to set up one million tonne unit in Karnataka and another 1.5 million tonne unit in Madhya Pradesh. - The Company has proposed a merger ratio of 1:3 with JK Udaipur Udyog as a part of its restructuring exercise. 2000 - The Company has informed that an illegal strike of the contract labour at its paper mills at Jaykaypur, Dist. Rayagada, Orissa, had been called off on 23rd December, and production esumed at the paper mills. 2001- JK Corp Ltd (JKL) today announced that its business restructuring plans involving the transfer of its paper business as a going concern to Central Pulp Mills Ltd (CPM) has been completed 2002-SK Wali/ S Chouksey appointed as Whole time Directors of JK Corp. 2005 -Company has changed its name from JK Corp Ltd. to JK Lakshmi Cement Ltd. 2008 -JK Lakshmi Cement Ltd has appointed Shri. Kashi Nath Memani as Additional Director on the Board of Directors of the Company w.e.f. August 05, 2008. -JK Lakshmi Cement Ltd has appointed Dr. Ajay Dua as Additional Director on the Board of Directors of the Company. -JK Lakshmi Cement Ltd has appointed Ms. Amita Narain as its Nominee Director w.e.f. September 08, 2008. 2009 - JK Lakshmi Cement was awarded the prestigious Productivity Excellence Award 2007-08" by Rajasthan State Productivity Council at Jaipur. - JK Lakshmi Cement setting up new RMC plant in Pune. - JK Lakshmi cement to invest Rs. 2K crore for capacity addition. -Company has splits its Face value of Shares from Rs 10 to Rs 5 2010 - JK Lakshmi Cement revives RMC expansion 2011 - JK Lakshmi Cement gets Productivity Excellence Award. - JK Lakshmi Cement to Partner with JDA in White Topping Concrete Pilot Project at Jaipur. 2012 - JK Lakshmi Cement- India's Best Companies to Work For" Times of India (Delhi, Mumbai, Ahmedabad, Kolkata, Hyderabad, Bangalore & Chennai). 2013 - JK Lakshmi Cement was announced as the winner of the prestigious International Safety Award 2013 by the British Safety Council, at the International Safety Awards function, Parklane. - JK Lakshmi Cement Ltd, achieved the "Strong Commitment to HR Excellence" level recognition in the 4th CII National HR Excellence Awards 2013 - JK Lakshmi Cement Ltd was awarded the 10th Safety Innovation Award 2013 by the Institution of Engineers India, Delhi. - JK Lakshmi Cement Ltd has recommended Equity Dividend of Rs. 2.50 per Equity Share of Rs. 5 each (50%). - JK Lakshmi Cement was recorded as one of the most respected companies in India by Business World. 2014 - JK Lakshmi Cement Ltd was awarded the MTM Corporate Star Award 2014 for Best Incentive Programme for Distributors / Dealers by MICE Travel Mart (MTM) and the third Luxury & Leisure Travel Mart (LLTM) Awards 2014. - JK Lakshmi Cement Ltd gets the "Excellent Energy Efficient Unit" award at 15th National Award for Excellence in Energy Management 2014. -JK Lakshmi Cement Ltd. gets the "Excellent Energy Efficient Unit" award at 15th National Award for Excellence in Energy Management 2014. -JK Lakshmi Cement Ltd has recommended Equity Dividend of Rs. 2 per Equity Share of Rs. 5 each (40%). 2015 -JK Lakshmi Cement chosen among 100 most admired brands -JK Lakshmi Pro Cement's launch at Vidarbha -JK Lakshmi Pro Cement's launch at Odisha -JK Lakshmi Cement avalaible on Snapdeal.com 2017 -Action and Lakshya Quality Circle Awarded Par Excellence in NCQC 2017 -India's Best Companies to Work for - 2017 -Great Place to Work Certificate 2018 -Vishwakarma Rashtriya Puraskar (V.R.P.) - 2018" in -Class C -JK Lakshmi Cement Surat Unit is Recognized & Awarded with NATIONAL SAFETY AWARD-2018" From DGFASLI -JK Lakshmi Cement gets green nod for expansion project -ET Now CSR Leadership Lifetime Achievement Award -Global Business Icon Awards 2018 2019 -ET Now Employee Engagement Leadership Awards 2020 -JK Lakshmi Cement Limited: Durg Unit -Global HR Excellence Awards 2020 - Best Workplace Practice -JK Lakshmi Cement Ltd.'s Kalol Grinding Unit Won "CII EnerCon 2020" Award -JK Lakshmi Cement is a proud recipient of India's Greatest Brands 2019-20 Award 2021 - 5th Indian Cement Review Awards 2021-22 on 17th Dec 2021 - Highest Volume of Alternative Raw material co-processed from 2016-2020. - Plant Head to Outstanding work in co-processing of Alternative Fuel & Raw material. -JK Lakshmi Cement Ltd., Certificate and Trophy Awarded by Chhattisgarh State AIDS Control Society -JK Lakshmi Cement Ltd., Durg Unit has been conferred "Outstanding Achievements in Promotion of Healthcare'. -Certificate of appreciation from "Iconic Brands of India - 2021" by The Economic Times for Trailblazing Iconicity -Excellent Energy Efficient Unit " by CII in 22nd National Award for Excellence in Energy Management 2021 -JK Lakshmi Cement felicitated as "Iconic Brands of India - 2021" by The Economic Times 2022 -JK Lakshmi Cement becomes India's first cement company to deploy Green LNG trucks for transportation. -JK Lakshmi partners with TARA for carbon neutrality. -JK Lakshmi Cement launches its premium cement in Central and Eastern Uttar Pradesh. -JK Lakshmi Cement and TARA to launch limestone calcined clay cement production. 2023 -JK lakshmi Cement Surat Unit Awarded by CII - "Energy Excellent Unit Award -2023". -JK Lakshmi Cement Recognised as the Third Fastest Growing Cement Company in the Large Category at the 6th Indian Cement Review Awards 2023.