Cement News tagged under: Birla Corp
Birla Corp plans to reach 30Mta of capacity by 202701 October 2021, Published under Cement NewsIndia’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 plant03 June 2021, Published under Cement NewsBirla 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 increase14 May 2021, Published under Cement NewsIndia’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 CEO02 March 2021, Published under Cement NewsThe 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 profit25 January 2021, Published under Cement NewsIndia’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 NCDs04 December 2020, Published under Cement NewsIndia’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 profit06 November 2020, Published under Cement NewsIndia’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... |
High Court orders removal of Birla Corp director21 September 2020, Published under Cement NewsIndia’s Calcutta High Court has restricted Harsh Vardhan Lodha from holding any position in MP Birla Group companies with immediate effect. As a result, he will no longer be the chairman of Birla Corp Ltd. The decision will reportedly be appealed by the company, according to the Business Standard. "Shareholders elected Harsh Varshan Lodha as a director of Birla Corp with an overwhelming majority of 98 per cent. Mr Lodha being otherwise not disqualified from holding the office of director... |
Birla Corp to expand Durgapur grinding unit10 August 2020, Published under Cement NewsIndia's Birla Corp, owned by MP Birla Group plans to expand the existing capacity of its grinding plant at West Bengal’s Durgapur by installing an INR725.7m (US$9.69m) cement grinding unit. The company said that the demand of premium slag-based cement in the eastern region is expected to be robust and therefore, it would require extra grinding capacity. "The board of directors of the company at their meeting held today approved the proposal to carry out the expansion of existing capacity of... |
Birla Corp subsidiary opts for ABB Ability Expert Optimizer03 June 2020, Published under Cement NewsBirla Corp subsidiary RCCPL will employ ABB Ability™ Expert Optimizer and other digital technologies to maximise production at its new cement plant at Mukutban in Maharashtra, India. ABB will supply RCCPL with ABB Ability™ Expert Optimizer, an advanced process control solution for controlling, stabilising and optimising industrial processes, and which will allow the cement producer to increase production, minimise carbon footprint and reduce fuel consumption to meet energy usage goals. Bi... |