Binani Cement Jul-Sep net at INR478.7m
Binani Cement Ltd has posted a net profit of INR478.7m for the July-September period on a net sales of INR2.14bn.
It is looking at a full-year net profit of INR3bn and hopes to save INR200m towards logistics costs by relying more on railways, Deputy Managing Director Vinod Juneja said.
The prices are expected to remain stable and the gross realisation has been 3,500-3,600 rupees per tonne, Assistant Vice-President (Finance), Visalakshi Sridhar, said. "The next three years should be a boom tine for cement," she said.
The company plans to nearly double its annual capacity to 12Mt in the next three years,
It is in the process of expanding the annual capacity of its existing plant in the north-western state of Rajasthan to 6Mt and set up a greenfield plant in the western state of Gujarat with a capacity of 2.5-3Mt, he said.
The Gujarat project would cost around INR8bn. The company is also scouting for land to set up another unit in eastern India, he said.
Published under Cement News
