Cement News tagged under: Shree Cement

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Shree Cement achieves 1GW renewable energy capacity

27 June 2024, Published under Cement News

India-based Shree Cement Ltd has reached 1GW of renewable energy capacity following the commissioning of the company’s 19.5MW solar power plant at factory in Andhra Pradesh. The milestone includes solar, wind, thermal and waste heat recovery power plants. The company has invested INR40bn (US$478.6m) to expand its renewable energy portfolio, representing almost half of its total installed power capacity. In FY24-25 it plans to invest an extra INR10bn to further expand renewable capacity....

Shree Cement predicted to see 2% sales advance

17 April 2024, Published under Cement News

India-based brokerage, Prabhudas Lilladher, has announced its estimated earnings for Shree Cement in the January-March 2024 period, with a forecast of INR5572m (US$66.58m) in net profit. This marks a two per cent advance YoY, but 24.1 per cent contraction QoQ.   Net sales are predicted to advance by 1.9 per cent YoY to INR48,754m, marking a 0.5 per cent decline QoQ, reports Money Control. Meanwhile, EBITDA is forecast to come in at INR11,208m, up 25.6 per cent YoY but down 9.1 per cent...

Shree Cement inaugurates new 3Mta plant

02 April 2024, Published under Cement News

Shree Cement has inaugurated its new 3Mta cement plant in Guntur, India. Commissioned six months ahead of schedule, the new facility marks an investment of over INR25,000m (US$300m), reports The New Indian Express. Located in Dachepalli village, Guntur district of Andhra Pradesh, the new plant is Shree’s sixth integrated plant in India and its second in the south of the counrry after its 4Mta works in Kodla , Karnataka. The cement producer's total production capacity now stands at 56.4Mta...

Shree Cement enters RMC sector

14 March 2024, Published under Cement News

Shree Cement has acquired five ready-mixed concrete (RMC) plants from StarCrete LLP. The plants, which have an aggregate capacity of 422m 3 /h, are all located in Mumbai, reports The Times of India. Commenting on the deal, Neeraj Akhoury, managing director of Shree Cement, said, “The strategic foray into RMC segment is a step ahead in our vision to become a multi-product company centred around core cement business. The RMC segment is expected to clock healthy growth since there has bee...

Shree Cement commits to two new plants

22 February 2024, Published under Cement News

Shree Cement is committing INR20,000m (US$241.16m) to two new cement plants in India’s Uttar Pradesh, expanding its cement production capacity in the region by almost 7Mta. The first plant will be located in Etah with a 3.5Mta cement capacity. Shree Cement has already bought the land for the project and construction of the new facility is underway. The plant is due to be operational within the next 12 months, according to the company. A second 3.5Mta plant will be constructed in Pray...

India's CMA welcomes Interim Budget 2024-25

07 February 2024, Published under Cement News

India’s cement producers have applauded the country’s government for its sustained focus on infrastructure development in its latest Interim Budget 2024-25. Under the budget plan, investment in infrastructure will increase by 11.1 per cent YoY in 2024-25, equivalent to 3.4 per cent of GDP. Three major economic railway corridor programmes, namely the energy, mineral and cement corridor, as well as the port connectivity corridor and high traffic density corridor, are to be implemented t...

Shree Cements reports jump in profit

01 February 2024, Published under Cement News

Shree Cement has reported total income of INR53,706.5m (US$646.85m) in the quarter ended 31 December 2023. This compares to INR49,321.1m in the previous quarter and INR44,733.8m in the quarter ended 31 December 2022. In the nine months ended 31 December 2023, total income came in at INR155,366.6m, up from the INR130,655m seen in the same period a year earlier.  Profit after tax in the December 2023 quarter stood at INR7018.5m, up notably from the INR4466.2m of the previous quarter and ...

Shree Cement begins production at Nawalgarh plant

23 January 2024, Published under Cement News

India’s Shree Cement has commenced commercial production at its 4.2Mta cement plant in Nawalgarh . The facility, which is located at Village Gothra, Nawalgarh Tehsil, Rajasthan, began production on 22 January 2024. This latest plant forms part of the cement producer’s plans to reach a cement production capacity of 80Mta by 2030. 

Shree Cement launches Bangur as master brand

09 January 2024, Published under Cement News

India’s Shree Cement has announced a revamp of its corporate brand identity and the launch of multiple brand offerings with Bangur as the master brand. According to Neeraj Akhoury, MD of Shree Cement, the launch of Bangur as the master brand “is in sync with our strategy of assessing and responding to evolving customer sentiments and growing aspirations. The intent is to position Bangur as the company’s umbrella brand, with a refreshed and discernible brand identity. Through this makeov...

Shree Cement makes move into mining sector

08 December 2023, Published under Cement News

Shree Cement is reportedly planning to bid for lithium mining rights in Jammu and Kashmir, as part of the company’s venture into the mining sector. According to Reuters, an estimated 5.8Mt of deposits were found in February this year. The cement producer is also believed to be looking at blocks in the eastern state of Chhattisgarh. An Australian-based mining company is advising Shree on the bid. If successful in acquiring the lithium block, Shree Cement plans to set up a US$600-700m re...