Panyam Cements & Mineral Industries Ltd

Panyam Cement and Mineral Industries Limited (PCMIL) incorporated in 1955 has diverse interests in cement, chemical and engineering. At this location, PCMIL operate a state-of-the-art cement production facility where limestone is mined, processed, and clinkered to produce the final cement product. This production plant boasts a capacity of 0.66 million Tonnes Per Annum (TPA) of Clinker and 0.85 million TPA of Cement. The company's cement plant at Kurnool, Andhra Pradesh, has an installed capacity of 5.31 lac TPA. PCMIL manufactures Portland cement under the brand name 'Pyramid'. Its steel wire division came into existence when Deccan Wires was amalgamated with the company. The company's major clients include Union Carbide, Geep Industrial Syndicate, Lakhanpal National, IOC, Chemplast, etc. It installed additional generating sets to overcome the power cuts imposed by the Andhra Pradesh Electricity Board. Its cement division is in the process of fabricating a grate cooler in-house, to change the existing planetory cooler which will enhance the capacity of the kiln. In 1999-2000, the operations in the chemical division continued to be suspended and the company is seeking permission for closure of the division. The cement division is also under strain due to steep fall in realisations. The Cement Division was incurring losses due to its inability to operate continuously at optimum levels on account of inadequate working capital and high cost of production. Thereafter, the Cement Unit resumed production activities from May, 2006 onwards. The Company modernized cement unit by enhancing the capacity of the kiln No.1 from 550 M.Tonnes per day to 1800 TPD costing Rs 70 Crores in 2008. In 2011-12, the modernization of Kiln No.1 for increasing its capacity from 550 TPD to 1800 TPD was completed and the kiln was commissioned on 10th August, 2011. During FY 2016-17, the Railway Siding works were completed, which got cleared by the Railway Authorities. The Company started dispatching of cement and also started getting coal by rakes, resulting in reduction of logistic costs. Further, the secondary crusher works got completed, which increased the output of the raw mills considerably. This again resulted in the reduction of power consumption in the raw mills sections. The Company installed a bucket elevator for the transportation of ground raw meal from the mills in place of F.K.Pumps and Air Lift Pump. This resulted in reduction of power consumption and also facilitated the transfer of material among the storage and blending silos. The company which went through Corporate Insolvency Resolution Process vide National Company Law Tribunal (NCLT) order dated 14th May, 2020 and revived through Resolution Plan approved by NCLT vide order dated 25th June, 2021. As per this Resolution Plan, the old creditors dues as on 14th May, 2020 were repaid and the company was restarted with new management on a fresh slate. The Company began its grinding operations from 08th May, 2022, It started clinker production from 02nd March, 2023. The company faced initial setbacks due to financial constraints, which led to a temporary halt in production. It also faced initial setbacks due to financial constraints, which led to a temporary halt in production in 2024.