Cement News tagged under: Birla Corp

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Birla Corp reports 127% jump in net profit

07 May 2024, Published under Cement News

Birla Corp has continued its steady progress of the first three quarters of fiscal 2023-24 to end the year on a high, with record cement sales by volume and a 127 per cent growth in net profit in the March quarter, despite unusually weak market conditions. After steadily ramping up the Mukutban unit, the company’s cement division achieved a capacity utilisation rate of 97 per cent for the March quarter, marking yet another milestone. Consolidated net profit for the March quarter came i...

Birla Corp records 15% YoY revenue growth

08 February 2024, Published under Cement News

Birla Corp has reported revenue of INR23,120m (US$278.6m) in the 3QFY23-24. This compares to INR20,161m in the same quarter a year earlier, marking a 14.7 per cent YoY advance. Consolidated net profit in the 3QFY23-24 came in at INR1091.4m, versus a net loss of INR499.1m in the 3QFY22-23, according to BusinessLine Online.  The company saw cement sales of 4.2Mt in the 3QFY23-24, up 13.2 per cent YoY, along with a capacity utilisation rate of 85 per cent over the three-month period. This...

Birla Corp reports 14% revenue growth in 2QFY24

13 November 2023, Published under Cement News

Birla Corp has reported revenue of INR22,858.3m (US$274.5m) in the 2QFY24 ended 30 September 2023. This marks a 14.3 per cent YoY increase. Net profit in the 2QFY24 came in at INR583.7m, compared to a loss of INR564.6m in the same period a year earlier. The rise in profit has been attributed to a number of factors, including cost initiatives and optimisation of the power and fuel mix, according to the company. Cement sales over the same three-month period advanced by 14.8 per cent YoY to 4...

Birla Corp plans to reach 30Mta of capacity by 2027

01 October 2021, Published under Cement News

India’s Birla Corp is setting a new target of reaching 30Mta of production capacity by 2027. Its current capacity is 15.6Mta but this is expected to rise to almost 20Mta by the end of the fiscal year, when its 3.9Mta Mukutban plant is commissioned. Birla had previously set a target of reaching 25Mta by 2025. The details of the new expansion plan will be announced when it has been approved by the board, according to Harsh V Lodha, chairman of Birla Group.

Tigers could halt greenfield Reliance cement plant

03 June 2021, Published under Cement News

Birla Corp Ltd's greenfield plant for its Reliance cement subsidiary in Mukutban, Yavatmal district, India, has to wait for a four-member committee to pass wildlife clearance for the project. The company received Stage II clearance from the environmental ministry for the diversion of 467.45ha of forest land. However, the land, which has resident tigers in the area is part of the Tiger Conservation Plan and is subject to the Wildlife (Protection) Act (WPA) of 1972.   The report is ex...

Birla Corp reports 27% net profit increase

14 May 2021, Published under Cement News

India’s Birla Corp has posted a net profit of INR2.49bn (US$33.87m) in the 4QFY20-21, up 27 per cent YoY from INR1.95bn, as cement sales advanced 24.5 per cent YoY to 4.17Mt. Revenue for January-March 2021 also advanced 24.9 per cent to INR21.46bn. Capacity utilisation reached 108 per cent. For the full-year, Birla Corp recorded its highest-ever net profit of INR6.3bn, up 24.7 per cent YoY, while revenue dipped 1.6 per cent to INR68.85bn. Cement sales also fell 1.8 per cent YoY to 13.39M...

Birla Corp appoints new CEO

02 March 2021, Published under Cement News

The board of India’s Birla Corp has approved the appointment of Arvind Pathak as its new CEO and managing director for a period of three years, effective from 31 March 2021. The current CEO, Pracheta Majumdar, is expected to continue as the chief management advisor. Mr Pathak has 36 years of experience in the cement industry, having held management positions for over 14 years in various organisations, including ACC, DCP, Adani and Reliance ADAG group, according to Birla Corp.

Birla Corp reports 82% rise in net profit

25 January 2021, Published under Cement News

India’s Birla Corp has seen its net profit surge 82.1 per cent YoY to INR1.484bn (US$20.35m) in the December quarter, compared to INR814m in the 3QFY19-20. Revenue also increased five per cent YoY to INR18.23bn, while EBITDA was up 19.4 per cent to INR3.76bn. The company’s sales volumes rose 3.2 per cent to 3.55Mt in the October-December 2020 period, boosting capacity utilisation to 92 per cent from 88 per cent in the same period last year. In the 9MFY20-21, its net profit climbed 22.7 p...

Birla Corp to raise INR1.5bn through NCDs

04 December 2020, Published under Cement News

India’s Birla Corp is set to raise around INR1.5bn (US$20.3m) through secured unlisted redeemable non-convertible debentures (NCDs). As such, the company has approved the allotment of 1500 NCDs worth INR10,00,000 each, on a private placement basis.

Birla Corp posts 89% rise in profit

06 November 2020, Published under Cement News

India’s Birla Corp has posted a net profit of INR1.66bn (US$22.35m) for the quarter ending 30 September 2020, up 88.6 per cent YoY over the same period last year. EBITDA reached INR4.04bn and cash profit was at INR3.23bn, representing a growth of 21.7 per cent and 43.2 per cent, respectively. Both figures were at a record high, due to sustained cost rationalisation initiatives and a better-than-expected recovery in cement demand in key markets, according to the company. Revenue for the...