Cement News tagged under: Shree Cement

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India adds 7Mta as expansion plans continue

24 April 2023, Published under Cement News

India’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...

Indian cement volumes forecast to rise 6% in 4QFY22-23

12 April 2023, Published under Cement News

India’s cement sector is expected to see growth in the 4QFY22-23 of around six per cent YoY and 13 per cent QoQ, according to a new report by Antique Stock Broking Ltd (ABS). Industry volume is predicted to reach around 109Mta with a utilisation rate of 80 per cent in the 4QFY22-23. UltraTech Cement has already reported grey cement volumes of 30Mt, up 14 per cent YoY, implying a utilisation rate of 94 per cent on expanded capacities. The total cost per tonne of cement is forecas...

Shree Cement wins coal mine auction

01 March 2023, Published under Cement News

India’s Shree Cement Ltd has been named as the highest bidder for the Datima Coal Mine Block, located in Surajpur Tehsil, Surguja District, Chattisgarh. The block was auctioned by the Ministry of Coal, Government of India, on 27 February 2023. The mine has geological reserves of 13.3Mt. According to the company, it has participated in the coal block auction with the intent of creating fuel security through long-term fuel supply sourcing options for its operations while having flexibilit...

Shree Cement resignation

14 February 2023, Published under Cement News

India’s Shree Cement has announced that Prakash Narayan Chhangani has resigned as whole-time director of the company. His resignation is effective from 13 February 2023. According to the company, his decision to leave is to “pursue his career outside the organisation.” 

Shree Cement YoY profit hit by fuel expenses

10 February 2023, Published under Cement News

Shree Cement Ltd has reported total income of INR42,300.2m (US$513m) in the quarter ended 31 December 2022. This compares to INR39,374.9m in the previous quarter and INR36,618.9m in the same quarter a year earlier. Profit over the December 2022 quarter came in at INR2767.7m, up from INR1896m in the previous quarter but down from the INR4919.9m reported in the December 2021 quarter. Power and fuel expenses advanced from INR8078.m in the quarter ended 31 December 2021 to INR13,027.4m in ...

Oriano commissions solar projects for Shree Cement

16 January 2023, Published under Cement News

India-based Oriano has commissioned two solar power projects for Shree Cement Ltd . The projects include a 10MWp at Seraikela Kharsawan, Jharkhand, and 30MWp (2 x 15MWp) at Banka, Bihar. The plant at Jharkhand was commissioned in July 2022, while the Bihar unit came on-stream in Jan 2023. Speaking about the commissioning, GM – Projects of Oriano Clean Energy Private Ltd, Vaibhav Bhatnagar said, ''With this commissioning, Oriano continues to contribute significantly to India's growi...

Shree Cement plans new 3Mta unit in Karnataka

29 December 2022, Published under Cement News

Shree Cement is planning to set up a cement grinding and bagging unit with a capacity of 3Mta at Doddaballapur in the Bengaluru Rural district of Karnataka. The project will extend over 70 acres of land. In May 2021, the project was approved by State High Level Clearance Committee (SHLCC), and Shree Cement is now awaiting for environmental clearance for the project. The contractor and suppliers are still being finalised. The company expects to start work on the project by the third quart...

Shree Cement reports 67% profit drop

17 October 2022, Published under Cement News

Shree Cement Ltd has reported standalone revenue of INR37,810m (US$458.8m) in the quarter ended 30 September, 2022. This compares to INR32,058m in the same period a year earlier, representing an 18 per cent YoY increase. However, net profit over the same period fell by 67 per cent from INR5777m to INR1896m. Total expenses in the September 2022 quarter came in at INR36,882m, notably up from the INR26,137m reported in the same period a year ago. Much of this advance was due to power and f...

Indian profits forecast to decline

14 October 2022, Published under Cement News

India’s cement producers are expected to report a decline in profits for the July-September 2022 quarter, according to Mumbai-based brokerage house KR Choksey. The brokerage predicts poor results in the short-term as the industry sees a wave of consolidation taking place, along with huge capital expenditure plans announced by the industry’s leading players. KR Choksey predicts a 19.2 per cent YoY fall in net profit for UltraTech in the 2QFY22-23 with the QoQ picture showing a 33 per ...

Shree Cement adds 7MW solar power plant to Panipat factory

26 September 2022, Published under Cement News

Gensol Engineering has commissioned a 6.7MWp solar project for Shree Cement Ltd at its Panipat Cement plant, Haryana. The solar power plant is estimated to save approximately 9192tpa equivalent of CO 2 emissions.