Birla Corporation Limited (BCL), the flagship company of the M.P. Birla Group, is primarily engaged in the manufacturing of cement as its core business activity. It has significant presence in the jute industry as well. The company was incorporated as Birla Jute Manufacturing Company Limited in the year 1919. The Cement Division of Birla Corporation Limited manufactures varieties of cement, including Ordinary Portland Portland_Cement (OPC), 43 & 53 grades, fly ash-based Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC), low- alkali Portland cement and Sulphate Resistant Cement (SRC). The Jute Division of the company manufacturing more than 120 tonnes of a variety of jute products in Birla Jute Mill. The product range comprises of almost every major application of jute - the most versatile, eco-friendly, biodegradable fibre available, Jute- durable, natural and anti-static. The Oxygen & Acetylene Gas Unit of the company was commissioned in August of the year 1964. The Company entered into an agreement with Indian Oxygen, Calcutta, for exclusive sale of its products on principal-to-principal basis in the same year. During the year 1969, BCL had entered into an agreement with Hindustan Steel Ltd for the purchase of blast furnace slag from the Durgapur Steel Plant to set up a slag-cement plant at Durgapur. Bally Jute Co. Limited's two units, such as Bally-1 and Bally-2 were amalgamated with the Company with effect from 1st April of the year 1982. With effect from 7th February of the year 1983, the name of the company was changed from the Birla Jute Manufacturing Company Limited to Birla Jute & Industries Limited. The captive thermal plant of 4.5 MW at Chittorgarh was commissioned in December of the year 1985. As a part of modernisation programme, modern jute spreaders were introduced in both Birla and Bally Mills during the period of 1988. An agreement was signed in 18th February of the year 1989 with the Soviet Collaborators, viz. Odessa Technical Fabrics Mill and V/o Novo export to transfer all assets and liabilities of Bally Jute Mills, with effect from 1st April or other date as agreed upon, to a new Joint Venture Company, Birla Odessa Industries Limited in consideration of offer of equity shares of paid-up equity share capital of the Joint Venture Company. A collaboration agreement was signed with EMPRWERKE of Germany in the same year 1989 for the manufacture of Automobile interior Door panels based on jute fibre. During the year 1991, Birla Vinoleum's new PVC floor covering plant was fully installed. The Company undertook to manufacture Cetaria ferro alloys in one of the furnaces of Birla Carbide. India Linoleums Ltd., a subsidiary of the Company was amalgamated with the company effective 1st April of the year 1991. The closure of the Company's Bally Jute Mills from 26th August of the year 1992, had also contributed to the low turnover and profits. The Company entered into a long-term agreement with a German linoleum manufacture for technical help in upgrading the products. During the year 1996, a joint venture company Birla Redland Ready mix Ltd.' was incorporated with Redland PLC, UK to set up facilities for manufacture of ready mix cement concrete in India. Effective from 31st March of the year 1997, the name was again changed from Birla Jute & Industries Limited to Birla Corp Limited. In 1998, the company had sets up a fly ash-based cement-grinding unit at Rae Bareilly in Uttar Pradesh. The name was again changed from Birla Corp Limited to the present name Birla Corporation Limited in 27th October 1998. The company's unit, Birla Synthetics consider as Suspension of Work from 2nd November 1998. During the year 2001-02, the company had modernized/upgraded the plant at Cittor Cement Works at Chittorgarh. During the year 2002-03, the company had developed new product lines, Desktop and Bulletin Board. In 2003-04, the Satna unit of the company was awarded the first prize for Noise, Vibration & Aesthetic Beauty and also the first prize for maximum percentage reduction in electrical energy consumption per MT of clinker produced. During April of the year 2004 the company has decided to close its Birla Synthetics at Birlapur. The company has expanded its installed capacity of Auto Trim Parts by 36000 Pcs during the 2004-05 and with this expansion the total installed capacity of Auto Trim Parts has increased to 603000 Pcs. The company's unit, Birla Carbide & Gases was permanently closed from 31st January of the year 2005. The company's capacity enhancement project at Durgapur viz. Durga Hitech Cement, which was commenced its commercial production during the year 2005-06. BCL received the Amity Corporate Excellence Award during the same year 2006-07. Credit Analysis and Research Limited (CARE) assigned 'CARE AA' rating to the company for long term borrowing programme in the year 2006-07.Birla Corporation launched premium quality Portland Slag Cement (PSC) brand, Birla Samrat UNIQUE, in Eastern India in 2011.During the financial year ended 31 March 2014, Birla Corporation launched a premium brand of Portland Pozzolana Cement, Birla Samrat ULTIMATE in Patna and Indore. Its controlled particle size distribution for 'Perfect Construction' has been welcomed by the market. The new product is cohesive and has high early setting strength, with assured zero loss in quantity because of its tamper and moisture proof packaging. The trade associates welcomed the initiative of the company in offering the premium product in tamper and leakage-proof bags.During the year under review, Birla Corporation undertook various projects and capacity enhancement programmes to maintain its market position in the industry besides focusing on various other efficiency improvements initiatives. During the year, work has been started for setting up of 5 Lac Tons Per Annum blending unit at Raebareli. Considering factors such as market potential, proximity to fly-ash sources, availability of tax incentives etc. the setting up of three grinding/blending units in Madhya Pradesh, one grinding unit in Bihar, one blending unit in Uttar Pradesh and another blending unit in Jharkhand has been approved by the Board of Directors during the year. The company is in the process of acquiring land and obtaining various government clearances for the above projects.The installation of 1.5 MW Solar Power Plant at Satna was completed during the year. Following the successful commissioning of the 1.5 MW Solar Power Plant at Satna the plant started generation of power. This will enable the company to fulfill the Renewable Power Obligation (RPO). The Mining Operations at the company's Chanderia plant had been suspended since August, 2011 owing to the Order of Jodhpur High Court (Rajasthan), which was challenged by the company before the Supreme Court. During the year, as a partial relief, the Supreme Court, vide its Interim Order dated 29 July 2013 allowed mining operations beyond 2 kilometers from the Chittorgarh Fort by using heavy earth moving machinery. The Supreme Court has further directed Central Building Research Institute (CBRI) to submit a report after comprehensive study of all relevant aspects and facets relating to full-scale mining operations and its impact, if any, on the Chittorgarh Fort, by September 2014.Based on the recommendations of the Inter-Ministerial Group (IMG), the allocation of the company's Bikram Coal Block, in Madhya Pradesh, has been de-allocated by the Ministry of Coal, by a letter dated 7 January 2014. The said de-allocation was based on the ground that the block has not been developed as per the milestones prescribed in the allocation letter. Pursuant to a writ petition filed by the company challenging the same, the Jabalpur High Court has stayed encashment of the bank guarantee and permitted the company to move the Court in case any steps are taken by the Government for re-allocation of the block. The matter is pending for further hearing.The Board of Directors Birla Corporation at its meeting held on 25 July 2013 approved the Scheme of Amalgamation of Talavadi Cements Limited, a 98% subsidiary company, with Birla Corporation with an appointed date of 1 April 2013. The Scheme is subject to approval of the High Court at Calcutta.Birla Jute Mills at Birlapur achieved highest ever production of jute goods during the year at 38015 MT as against 15380 MT during the previous year.During the year under review, Birla Corporation signed an agreement with Foreign Banks to refinance the existing foreign currency Term Loan of USD 70 million with another foreign currency Term Loan with same maturity at a lower rate of interest. Out of the above, the company has drawn USD 35 million upto 31st March, 2014 and the balance will be drawn by May, 2014. During the financial year ended 31 March 2015, Birla Corporation undertook various projects for plant optimization and infrastructure development to maintain its market position in the cement industry besides focusing on various other efficiency improvements initiatives. Work for installation of Clinker silo at Birla Vikas Cement (BVC), Satna and Raebareli plant was completed during the year. At Durgapur covering of slag storage with reclaimer system was set up during the year. Water Cooled Condenser of 27 MW Thermal Power Plant was replaced with Air Cooled Condenser at Chanderia Unit.During the year under review, the company undertook project for development of infrastructure, collection, storage and transportation of alternative fuel for Satna and Chanderia Units, Steel silo for storage of cement at Chanderia and additional Fly ash silo at Durgapur and Bucket Elevator for transfer of cement in place of Pneumatic Conveying System at Chanderia. The company also initiated modification of existing Vertical Roller Pre-Grinder Mill at Raebareli unit, covered yard for storage of Raw Material at Satna, Chanderia and Durgapur Units and Coal mill upgradation at Durgapur. Pursuant to the MoU, signed by Birla Corporation with the Assam Mineral Development Corporation (AMDC) to set up 1-million-ton cement plant at Umrangsu, Assam, the Shareholders' Agreement has been signed between the Company and AMDC. The matter is being followed-up with AMDC for mining lease of limestone reserves.Due to non-availability of required quantities of limestone, clinker production at Birla Corporation's Chanderia unit had to be curtailed, resulting in higher production cost. Consequent to reduction in availability in linkage coal, the company had to procure coal from open market as well as take recourse to imports. This has resulted in substantially higher cost of coal. The premium Portland Pozzolana Cement (fly ash-based) brand, Birla Samrat ULTIMATE was launched at Lucknow, Kolkata and Jaipur during the year under review.During the year under review, Birla Corporation thermal power plants could not be run optimally due to non-availability of linkage coal.During the financial year ended 31 March 2016, Birla Corporation signed a Share Purchase Agreement with Reliance Infrastructure Limited for acquisition of its entire cement business for an enterprise value of Rs 4800 crores. The company will acquire all the shares of Reliance Cement Company Private Limited (RCCPL). The acquisition will provide the company ownership of high quality assets taking its total capacity from 10 MTPA to 15.5 MTPA strengthening its presence in the high growth central region. The company's expansion potential will also be enhanced with mineral concession in the states of Madhya Pradesh, Maharashtra, Rajasthan, Karnataka, Andhra Pradesh and Himachal Pradesh enabling the company to emerge as a pan-Indian player in the foreseeable future. RCCPL has three cement Units, an integrated cement plant at Maihar (Madhya Pradesh) and grinding Units at Kundanganj (Uttar Pradesh) and Butiburi (Maharashtra). Birla Corporation will also benefit from Reliance Cement's strategically located raw material sources, captive coal mine, optimum manpower, efficient operating parameters and technical capability for producing top end quality product.The Mining Operations (through blasting) at Birla Corporation's Chanderia plant had been suspended since August 2011 owing to the Order of Jodhpur High Court (Rajasthan), which was challenged by the company before the Supreme Court. As a partial relief, the Supreme Court had allowed mining operations beyond 2 kilometers from the Chittorgarh Fort by using heavy earth moving machinery. The Supreme Court had further directed Central Building Research Institute (CBRI) to submit a report after comprehensive study of all relevant aspects and facets relating to full-scale mining operations and its impact, if any, on the Chittorgarh Fort. The report of CBRI, has concluded that vibrations and air pressures induced by mine of Birla Cement Works and adjoining mines are well within safe limits as per national and international standards and there is no damage to the Fort due to the mining operations. During the year ended 31 March 2016, Birla Corporation filed an Interim Application seeking Interim Relief for blasting at the existing working pit. The matter is expected to come up for final hearing before the Supreme Court shortly.New Coal Vertical Roller Mill for Pet coke grinding at the company's Satna cement unit was commissioned in June 2015. A 5-lakh ton blending unit at Raebareli was commissioned in October 2015. The unit produces superior quality of cement which is marketed mainly under the premium brand, Birla Samrat ULTIMATE Cement. During the financial year ended 31 March 2016, Birla Corporation's Jute division reported its highest ever turnover and profit. The Division also reported its highest ever production at 38024 MT as against 33248 MT in the previous year. The improved performance of the Jute division was driven by substantial investment made in recent past for modernization of the plant, improvement in production efficiencies, substantial reduction in wastage generation, judicious product and market selection, economical and strategic purchase of raw jute and low power consumption.Pursuant to signing of definitive share purchase agreement with Reliance Infrastructure Limited for acquisition of its entire cement business, Birla Corporation completed the process of acquisition by acquiring 100% equity shares of Reliance Cement Company Private Limited (RCCPL) on 22 August, 2016. After this acquisition, RCCPL became a wholly owned subsidiary of Birla Corporation Limited. The acquisition was funded through existing cash reserves and incremental debt. This acquisition has provided the company with the ownership of high-quality assets, taking its total capacity to 15.5 MTPA from 10 MTPA, strengthening its presence in the high-growth Central region. The company's expansion potential will also be enhanced significantly by valuable mineral concessions access to in several States, in addition to Madhya Pradesh. RCCPL has three cement Units, an integrated cement plant at Maihar (Madhya Pradesh) and grinding units at Kundanganj (Uttar Pradesh) and Butibori (Maharashtra), with an aggregate capacity of 5.58 MTPA of cement and 3.3 MTPA of clinker. With the state of the art technology, strategically located raw material sources, captive coal mine and efficient operating parameters, it has already established the technical capability for producing top-end quality product. RCCPL's mining lease at Mukutban will enable Birla Corporation to set up clinkerization unit in foreseeable future. Since the take-over of RCCPL, considerable efforts have been made by the company's management for improving its operational efficiencies which has led to significant improvement in all parameters across the board. The plants of RCCPL have started performing at strong operating parameters which are comparable with the benchmarks in the industry. This has helped Birla Corporation achieve EBIDTA in excess of Rs. 1,100 per ton in Q4 March 2017, which is among the highest in the industry, despite softness in some of its markets both in terms of volume and realization.During the financial year ended 31 March 2017, Birla Corporation's profitability continued to be adversely affected on account of suspension of normal mining operations (with blasting) at Chanderia, the unit had to outsource limestone at significantly higher prices. Keeping in view the rapid growth in infrastructure and projects, the company launched new-age cement brands, M P Birla Cement CONCRECEM (OPC 43 & 53 grades) and MULTICEM (fly ash-based PPC) in March 2017. These products are particularly suitable for large commercial, industrial, infrastructural and real estate projects. MULTICEM is a BIS-certified PPC cement, specially engineered for infrastructural development. It is manufactured using the latest cement manufacturing technology and ultra-modern techniques.Projects for development of storage and transportation of alternative fuel were commissioned at the company' Satna cement unit during the year. Secondary air system was installed at Boiler No. 2 of 27 MW Thermal Power Project at Satna. Modification of Vertical Raw Mill (VRM) was completed at Raebareli unit during the year. Modification of Cement Mill Circuit was completed at the company Chanderia unit during the year. Conventional Luminaries were replaced by LED lights. Alternate fuel firing system was completed at Chanderia Cement Works. Carbon Black feeding system feeding to coal VRM was installed at Chanderia Cement Works. 3 nos. hanging type truck loading machine were installed at Chanderia Cement Works. Cross Belt analyzer of outsourcing limestone at Chanderia Cement Works was completed during the year. Upgradation of Coal Mill and installation of Flyash at Steel Silo were completed during the year at the company's Durgapur Cement Works.Reliance Cement Company Private Limited, a wholly owned subsidiary of Birla Corporation Limited started the exercise of rebranding of the Reliance Perfect Cement' brand as MP Birla Perfect Cement' in Q4 March 2017. The MP Birla Perfect Cement launch was supported by an extensive marketing communication on mass media and at the point of sale. A key differentiator was the technical services offered to customers through a large fleet of mobile laboratories, equipped with latest construction testing equipments.During the financial year ended 31 March 2017, Birla Corporation's Jute division reported highest ever turnover and profit. The improved performance of the Jute Division is attributed to large investment made in recent past for modernization, continual improvement in productivity, emphasis on increasing share of value added product market selection and managing raw jute stock in times of wide fluctuating market price etc.During the financial year ended 31 March 2018, Birla Corporation achieved successful integration of operations of Reliance Cement Company Private Limited (RCCPL), which was acquired by the Company on 22 August 2016. Despite a challenging environment, the company was able to ramp up volumes and realise enhanced level of energy benefits arising out of the acquisition of the plants of RCCPL. The operations of RCCPL have stabilized and its plants are achieving operating parameters that are among the best in the industry. The planned synergies, expected out of the acquisition, are also getting realized with successful integration of its operations with the company.During the year under review, Birla Corporation's operations were adversely impacted due to non-availability of railway rakes, as these were diverted for carrying coal to power plants. This disrupted not only supply of coal for the clinkerization plants of the company but also transportation of clinker to the grinding units and cement to rail-fed destinations, especially in the profitable Central zone markets. The manufacturing operations of the company's Rajasthan's unit were severely impacted by the ban on sand mining in Rajasthan. The ban on pet coke in Rajasthan affected profitability of the units of the company at Chanderia during the year under review. Further, the continuing suspension of normal mining operations (with blasting) at Chanderia necessitated sourcing part of the limestone requirement from third parties at significantly higher prices.The company improved both volume and value share in the important market of Bihar through better distribution and price management. With easing of the sand and aggregates availability in Uttar Pradesh there has been a sharp increase in demand that was reflected in better price realization in the market.The year 2017-18 was a period of consolidation for MP Birla Cement with a view to maximizing the synergies from the acquired Reliance RCCPL manufacturing, marketing and distribution of assets. During the year, the MP Birla Cement 'master brand' was forcefully established in the market with a powerful multimedia campaign, 'Cement se Ghar tak', and a new brand architecture was developed for the product brands. Following a seamless integration of the sales operations and smooth transition of the RCCPL brands to the MP Birla Cement umbrella the focus turned to cross-branding at the acquired RCCPL manufacturing facilities. This led to enlarging the footprint of the MP Birla heritage brands (Samrat and Chetak) into the high growth markets of Madhya Pradesh, Maharashtra (Vidarbha) and Uttar Pradesh.During the year under review, the company commissioned/upgraded various projects to meet the emission norms at Satna unit. A New Plastic Waste Shredder machine was installed in Satna Cement Works to improve Alternate Fuel and Raw materials (AFR) consumption. A new tertiary crusher was installed in Birla Vikas Cement Raw Ball Mill to increase Mill output. The company upgraded grinding media pattern at Raebareli unit. During the year under review, the company installed 4 nos. Screw Conveyors to convey Bag Filter discharge material directly into final product at Raebareli manufacturing unit. The company installed atomized grinding aid dozing system to maintain the high quality cement uniformly at Raebareli unit. During the year under review, various projects were commissioned/upgraded at the company's Chanderia Cement Works to meet the emission norms. Existing Packers were replaced at Chanderia Cement Works packing plant to increase the efficiency. The company completed replacement of existing Swirlex Burner with Pyrojet Burner for Chanderia Cement Works Kiln firing. During the year under review, a 150 TPH capacity crusher along with Belt Conveyors was installed at Chanderia Cement Works for crushing of Laterite and ochre and a semi automatic truck loading machines was installed to increase efficiency and reduce manpower. To increase percentage of alternate fuel firing a pump house was installed for firing waste mixed liquid to Chanderia Cement Works calciner.During the year under review, stock pile of 20000 MT capacity and 2 nos. Belt Conveyor have been constructed for additional storage of clinker at the company's Durgapur unit. A wagon-loading platform with 2 nos. of wagon loading machines was installed at the Durgapur unit. Power supply line has been re-routed to achieve reliability of power at the Durgapur unit.