Madras Cements on expansion mode

Madras Cements on expansion mode
Published: 11 August 2006

Madras Cement, India, expects a healthy balance sheet for the year given the surging demand for cement and the increase in prices, according to its Executive Director - Finance, Mr A.V. Dharmakrishnan.

With its on-going expansion, the company does not expect its total debt to exceed Rs 600 crore, which, with a 10Mta capacity and its superior operating efficiencies, will not be a problem for the company to service, according to him.

In the first four months of this financial year, the company has reduced its debt by Rs 125 crore and had interest bearing debt as on date of Rs 193 crore. It has short-term debt of Rs 102 crore with an average cost of 6.3 per cent.