Cement News tagged under: Shree Cement
Shree plans 3Mta Odisha grinding plant, India09 June 2014, Published under Cement NewsShree Cement plans to establish a 3Mta cement grinding mill in Dhenkanal district, Odisha state. The Rajasthan-based company wants to use fly-ash generated from the nearby power plants at the cement mill. “The proposed location at Odapada would be ideal for the cement grinding unit as the ash generated from industries in the locality such as Bhushan Steel, GMR (Kamalanga), Lanco Badbandh Power and Navabharat Ventures can be effectively utilised by the proposed unit for producing cement,” sa... |
Shree first quarter net profit down 19% YoY, India30 April 2014, Published under Cement NewsIndia-based producer Shree Cement reported a 19 per cent dip in net profit for the January-March quarter despite higher sales. The company, which has over 13Mta of capacity, reported net profit of INR222.50 crore during the first three months of this year compared to INR274.09 crore in the corresponding quarter of FY13. Total income grew to INR1665 crore from INR1443 crore on higher revenue from the cement segment. |
Shree on course with capacity drive, India17 April 2014, Published under Cement NewsShree Cement is on course with its expansion drive to raise cement capacity to 20Mta by 2015 with two new projects currently under implementation. The company, which already has a strong presence in northern India, is setting up an integrated unit in the central state of Chhattisgarh due for commissioning in 2015. Meanwhile, to tap growing consumption in the eastern market it is also setting up a grinding unit in Bihar. “The Chhattisgarh unit could be commissioned by April next year, w... |
India: Dalmia Cement plunders executives from Shree13 December 2013, Published under Cement NewsMahendra Singhi has joined the Dalmia group has its new managing director from rival Shree Cement where he had spent 19 years, with his last position being executive director. His aim will be to consolidate cement operations and build efficiencies while working with private equity investor KKR. The US-based fund KKR, which invested US$125m in the cement company in 2010, helped Dalmia implement best practices and integrate acquisitions. KKR has already standardised management practices ... |
Shree Cement places major order with Gebr Pfeiffer09 July 2013, Published under Cement NewsKolkata-based Shree Cement has awarded Gebr Pfeiffer (Germany) and its subsidiary Gebr Pfeiffer (India) Pvt Ltd a contract for five vertical roller mills. Shree Cement is currently expanding its presence outside the Rajasthan market in the west, with the construction of a greenfield plant in the state of Chhattisgarh and a grinding plant in Bihar state to serve the east India market. The new order comprises three type MVR 6000 C-6 cement mills, each with an installed drive power of 6700k... |
Shree Cement sees jump in third-quarter net profit, India22 January 2013, Published under Cement NewsIndia-based producer Shree Cement reported a 267 per cent rise in net profit to INR2174.4m (US$40.4m) for the third quarter of FY12-13 compared to INR591.9m in the same period of last year. Total income increased by 20.46 per cent to INR14.60bn for the quarter ended 31 December 2012 from INR12.12bn for the same period the year before. Net sales increased by 19.5 per cent INR14.28bn for 3QFY12-13 compared to INR11.95bn in 3QFY11-12. Shree Cement has a cement production capacity of 13.4... |
BoA-Merrill upgrades India's cement stocks to 'buy'14 December 2012, Published under Cement NewsBank of America-Merrill Lynch upgrades its rating across cement stocks to 'buy' from 'neutral' or 'underperform', saying capacity will lag demand, while valuations are below previous up cycles. The investment adds general elections in the next 18 months bode well for the Indian cement sector given the demand-GDP multiplier expanded in four out of the five previous election years. Among the major cement manufacturers, Bank of America upgraded UltraTech Cement and Ambuja Cements to 'buy'... |
Gebr Pfieffer wins repeat order from Shree Cement, India12 October 2012, Published under Cement NewsGebr Pfeiffer SE has secured another order from India-based Shree Cement headquartered in Kolkata. This new contract will see Gebr Pfeiffer provide an MPS 5000 B vertical roller mill for the 8th kiln line, which is to be set up at RAS works in Rajasthan. The mill featuring a 3400kW drive is designed to grind 420tph of raw material to a product fineness of two per cent R212µm. The product will be classified in an integrated latest generation high-efficiency SLS-B type classifier. The moist... |
Shree cement expands limestone mining capacity, India11 October 2012, Published under Cement NewsShree Cement is expanding its limestone mining capacity from 11.4Mta to 14.4Mta on a 750ha unit in Ras, district. Pali, Rajasthan. Shree Cement is planning to expand the capacity of its Nimbeti Open Cast Limestone mining project from 17.2Mta to 19.6Mta, at village Ras, district of Pali, Rajasthan. The project is awaiting clearance. |
Nalanda Capital cuts stake in Shree Cement, India09 October 2012, Published under Cement NewsNalanda Capital has sold around half of its holding (3.25%) in Shree Cement. The fund sold around 1.61 per cent or 561316 shares for INR3800.84 per share, aggregating around INR213.33 crore through bulk deal on the Bombay Stock Exchange. Nalanda Capital made around 2x returns from this share sale. It invested in the company between June and September 2011 when the prices were hovering between INR1600-1800 crore. |