Shree Cement registers 9% growth, India

Shree Cement registers 9% growth, India
Published: 02 August 2011

Indian-based producer, Shree Cement, registered nine per cent growth in net sales in the first-quarter at INR1034 crore, compared to INR945 crore in corresponding period previous year.

EBITDA for the said quarter declined to INR259 crore as against INR306 crore in the previous corresponding quarter mainly due to increase in input costs, the company stated in a release issued on Monday.

The company has, over the last couple of years, undertaken multiple initiatives to increase its cement and power capacities. It is currently in the process of setting up cement plants in Chhattisgarh with split grinding units in other part of eastern India.

It also hopes to finalise its investment plans for the proposed cement unit in Karnataka in the next few quarters. Presently, the company’s cement capacity is 13.5Mta. Its total power generation capacity will be 560MW, post completion of the 300MW power plant by third quarter of this financial year.