Andhra Cements Ltd. (India)

Andhra Cements Ltd. is a company located in Guntur, Andhra Pradesh. It was incorporated on December 9, 1936, under the Indian Companies Act 1913. The company has experienced several changes in terms of promoters and management over the years. In 1994, the management of the company was transferred from M/s Bennett Coleman Co. Ltd. (BDCL) to M/s Duncan Agro Industries Ltd., also known as Duncan Industries Ltd. (DIL), under the control of Shri G.P. Goenka (Duncan Goenka Group). In 2012, Jaypee Group acquired about 60% shareholding of the company and took over the management control. However, due to financial and operational crises, the cement production activity was stopped and both units were shut down from February 2020 to March 2023. The company's financial creditors filed an insolvency petition with the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) in April 2022. Finally, the NCLT approved the resolution plan submitted by Sagar Cements Limited (SCL) on February 16, 2023. SCL infused Rs. 322.25 crores to acquire 95% shareholding of Andhra Cements Limited. As a result, SCL took over the management control of the company in March 2023. Andhra Cements Limited is now a part of the "Sagar Group" and a subsidiary of Sagar Cements Limited. Andhra Cements Limited operates two manufacturing plants, namely "Durga Cement Works" (DCW) in Dachepalli, Palnadu District, and "Visakha Cement Works" (VCW) in Visakhapatnam. The main clinker plant is located at Durgapuram, Dachepalli. The company produces both OPC and PPC grade cements. The plants are well connected with rail, road, and sea transportation facilities, allowing for easy distribution to neighboring states. The company's product brand is "Sagar Cement," and about 70% of the quantities are sold within Andhra Pradesh and Telangana, with the remaining quantity going to Tamil Nadu and Karnataka. Andhra Cements Limited operates with approximately 770 authorized stockists in Andhra Pradesh and Telangana, serving consumers, government projects, and big projects. In other states like Odisha, Tamil Nadu, and Karnataka, the company operates through direct sale and contract sale. The company has a board of directors and various committees, and it adheres to policies and codes such as a code of conduct for directors and senior management, a code of fair disclosure, a whistle-blower policy, and policies on related party transactions and material subsidiaries. The registered office of Andhra Cements Limited is located at Durga Cement Works, Dachepalli, Palnadu District, Andhra Pradesh, and the corporate office is in Hyderabad. The company can be contacted through their website and email.