Cement News tagged under: Shree Cement
Shree Cement reports YoY revenue growth08 November 2023, Published under Cement NewsShree Cement Ltd has reported standalone unaudited revenue of INR47,107.1m (US$566m) in the quarter ended 30 September 2023, down from INR51,607.8m in the previous quarter but up from the INR39,374.9m posted in the quarter ended 30 September 2022. Profit after tax in the September 2023 quarter came in at INR4913.3m, marking a decline from INR5811.2m in the previous quarter, and a significant increase from the INR1896m seen in the September 2022 quarter. Expenses in the quarter ended 30 ... |
Shree Cement approves NCDs to fund expansion27 September 2023, Published under Cement NewsShree Cement has approved plans to raise INR7000m (US$84.11m) through the issue of non-convertible debentures (NCD) on a private placement basis. According to Realty, the secured, rated, redeemable and taxable NCDs with a base issue size of INR3500m, with an option to retain oversubscription of up to INR3500m, will be allotted today (26 September 2023) at a face value of INR100,000 each for cash at par. The date of maturity of the NCDs to be issued on a private placement basis to certai... |
Shree Cement starts commercial production at Purulia31 July 2023, Published under Cement NewsShree Cement Ltd has commenced commercial production at its clinker grinding unit in the Purulia district of West Bengal with a cement capacity of 3Mta. According to the company, this is the first factory in the state which will help meet the growing demand for cement in West Bengal. Shree Cement operates 10 integrated cement plants and 11 grinding units across India. The Purulia plant is expected to create direct and indirect employment opportunities for over 1000 people. With this,... |
Shree Cement 1QFY23-24 profits jumps INR5723m26 July 2023, Published under Cement NewsShree Cement ’s first quarter profit for the FY23-24 rose to INR5723m (US$69.7m), up 104.8 per cent in comparison to INR2795m during the corresponding quarter of last year. It posted revenue from operations at INR50,648.3m, up 14.7 per cent as against INR4,4148.5m during the 1QFY22-23. The company’s EBITDA stood at INR9326m. The company posted total income for the quarter at INR52,339m, up 19.1 per cent in comparison to INR43,947.5m during the same period last year. However, the total... |
India's CMA appoints new president19 July 2023, Published under Cement NewsIndia’s Cement Manufacturers’ Association (CMA) has appointed Neeraj Akhoury, managing director at Shree Cement Ltd , as its new president, and Parth Jindal, managing director of JSW Cement Ltd , as its vice-president. Mr Akhoury brings with him more than 30 years of experience in the steel and cement industries, having worked in various leadership roles in India and other emerging markets. "As a future direction, the Indian cement industry would like to reiterate its commitment to bein... |
Shree Cement reports 18% YoY revenue growth04 July 2023, Published under Cement NewsShree Cement has reported revenue from operations of INR168,374m (US$2055m) in FY22-23 (ended 31 March 2023), up 18 per cent YoY from INR143,060m in FY21-22. EBITDA in FY22-23 came in at INR33,737m, with profit after tax of INR13,281m. The company registered total sales volumes of 31.82Mt in FY22-23, marking growth of 15 per cent YoY. According to the company this growth was driven by increased government spending and higher demand for housing. Cement production in FY22-23 was 31.21Mt,... |
Shree Cement commissions Purulia plant03 July 2023, Published under Cement NewsShree Cement announced the completion of its INR5.5bn greenfield cement plant in Purulia, Bengal, India. The 3Mta cement plant is its first production facility in Bengal and has started trial production on 30 June 2023. Entirely financed by internal acrruals, the Purulia works will serve the growing cement demand in Bengal and Jharkand markets, according to Neeraj Akhouri, Shree Cement’s MD. The project has increased the company’s cement capacity to approximately 50Mta across 15 plants... |
Shree Cement announces further expansion plans19 June 2023, Published under Cement NewsShree Cement has announced a new round of capacity expansions, which will take the company’s total cement production capacity to 55.9Mta. The cement producer currently runs 46.4Mta of capacity with the new plans in line with the company’s vision to reach 80Mta by 2030, according to The Telegraph India. The expansion plans includes four new projects, costing approximately INR55,000m-60,000m (US$671m-732m). The new plants will be located in Uttar Pradesh, Punjab, Karnataka and Bengal. Th... |
Shree Cement posts 15% fall in profit23 May 2023, Published under Cement NewsIndia’s Shree Cement has reported gross revenue from operations of INR59.98bn (US$724m) in the quarter ended 31 March 2023, up 16.8 per cent YoY. Profit of INR5.46bn (US$66.8m) was seen over the three-month period, compared to INR6.54bn in the same period a year earlier, marking a 15.3 per cent YoY decline. The company’s EBITDA margin over the same time frame contracted by two per cent as cement prices remained flat and expenses continued to expand. Shree posted a 24.4 per cent increas... |
India adds 7Mta as expansion plans continue24 April 2023, Published under Cement NewsIndia’s cement producers have added around 7Mta of cement production capacity in the last few weeks alone as their expansion plans continue. According to Argus Media, UltraTech Cement has added 2.2Mta at its Bihar unit, raising its total cement production capacity to 129.15Mta as part of plans to reach 200Mta by 2030. Dalmia Bharat Cement plans to add 12Mta by 2024 with the ultimate aim of reaching 110-130Mta by 2031. The company recently added 2.5Mta, taking its total capacity to 4... |