Cement News tagged under: Shree Cement

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Shree Cement to open 3Mta Pune grinding plant in September

19 July 2021, Published under Cement News

Shree Cement's 3Mta clinker grinding unit at Patas, Pune district in Maharashstra, India, is now expected to be completed soon with commercial production to commence in September, according to company official. The western Indian expansion, which sits on a 26.6ha plot, had been delayed due to the impact of the COVID-19 pandemic and right-of-way issues. The project, which represents an investment of over INR6bn (US$80.39m), will receive clinker from its group plant in Karnataka. In 2020...

Shree Cement records 22% revenue increase

26 May 2021, Published under Cement News

India’s Shree Cement has posted a 22.2 per cent YoY increase in standalone revenue from operations to INR39.31bn (US$540.6m) in the quarter ending 31 March 2021, against INR32.18bn in the year-ago period. Net profit advanced 30.5 per cent YoY to INR7.68bn from INR5.88bn. In the full-year period, revenue from operations climbed 5.7 per cent to INR125.88bn from INR119bn in the FY19-20. Net profit surged 40.8 per cent YoY to INR23.12bn.

Shree Cement starts commercial operation of Odisha grinding plant

16 March 2021, Published under Cement News

Shree Cement has started commercial operation of its new 3Mta cement grinding unit in Odisha. The new plant is located in Athagarh Tehsil, Cuttack District of Odisha, Shree Cement said in a regulatory filing. Shree Cement operates four integrated plants and 10 grinding plants in India as well as a 4.8Mt integrated plant in UAE. The company is building a new 3Mta grinding plant in Pune but has put on hold plans for a 5Mta greenfield grinding plant in Raghunathpur, West Bengal, India. ...

Shree Cement places WHR order

05 March 2021, Published under Cement News

India’s Shree Cement has placed an order for two WHR boilers from ISGEC Heavy Engineering for its Raipur plant. A PH boiler will be set up at the preheater exhaust, while an AQC boiler will be installed at the cooler exhaust from the facility’s 10,500tpd kiln. This is the second order Shree has placed with the engineering firm, according to a statement. 

Shree Cement reports 102% rise in net profit

01 February 2021, Published under Cement News

India’s Shree Cement has reported a 102 per cent YoY rise in net profit to INR6.26bn (US$85.76m) for the December quarter, compared to INR3.12bn in the year-ago period. Revenue also advanced 16.2 per cent YoY to INR33.09bn. The company’s expenses remained largely in line with the previous year at INR27.97bn from INR28.02bn. Shree Cement also reappointed Hari Mohan Bangur as managing director of the company for a further period of five years. His reappointment is expected to come into ...

Shree Cement receives approval for rooftop solar project

14 January 2021, Published under Cement News

The Jharkhand State Electricity Regulatory Commission (JSERC), in India, has approved the net metering connectivity requested by Shree Cement for a captive rooftop solar power project of 1.99MW at 132kV supply. The state regulator said that connectivity would be provided subject to the fulfillment of requirements concerning system protection, data communication, and metering of the Jharkhand Urja Sancharan Nigam Ltd, State Load Despatch Center and the Jharkhand Bijli Vitran Nigam Ltd (...

Shree Cement orders next generation MVR mill from Gebr Pfeiffer

17 November 2020, Published under Cement News

Shree Cement is building a new clinker line near Raipur, India. The raw mill and the coal mill have now been ordered from Gebr Pfeiffer. The new raw material mill, type MVR 6000 R-6, is equipped with an installed drive power of 8700kW and will produce 800tph of raw meal for cement production. The mill will also be equipped with an SLS 6000 VR high-efficiency classifier, which has been optimally adapted for the MVR mill.  Some components of GPpro will be part of the delivery. As such, G...

Shree Cement records 64% increase in profit

12 November 2020, Published under Cement News

India’s Shree Cement has seen a 64 per cent YoY increase in consolidated net profit to INR5.23bn (US$70.71m) for the quarter ending 30 September 2020, compared with INR3.13bn in the corresponding period of last year. Revenue from operations advanced eight per cent to INR32.5bn from INR30.04bn in the 2QFY19-20. The company’s EBITDA also rose 17 per cent YoY to INR9.9bn. In the first half of FY20-21, revenue from operations declined 9.1 per cent YoY to INR57.3bn from INR63.07bn. Consolidate...

Shree Cement plans new INR10bn plant

30 September 2020, Published under Cement News

India’s Shree Cement has received board approval to set up a new clinker plant in Baloda Bazar, Chhattisgarh. The unit could have a capacity up to 12,000tpd and is expected to represent an investment of around INR10bn (US$135.66m). Shree plans to finance the project through internal accruals and debt. It is expected to reach completion by the end of the 3Q22.

Shree Cement sees 14% fall in net profit

12 August 2020, Published under Cement News

India’s Shree Cement has seen a 13.5 per cent YoY fall in net profit to INR3.3bn (US$44.17m) for the June quarter of FY20-21, compared with INR3.82bn in the year-ago period. Revenue also declined 24 per cent to INR24.8bn from INR33.02bn. However, expenses also decreased 25 per cent to INR21.63bn due to lower raw materials costs. The company’s EBITDA dropped 22 per cent YoY to INR7bn, while EBITDA/t finished at INR14.22bn.