Cement News tagged under: Shree Cement

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Shree Cement to enter western India within six months

05 February 2020, Published under Cement News

Shree Cement will enter the market of western India within the next six months when it commissions its 2.5Mta grinding plant near Pune, Maharashtra, according to the Business Standard. "It will be our maiden entry into Maharashtra and cater to demand for the western part of the state," said H M Bangur, managing director. The plant represents an investment of INR6.25bn (US$87.8m). Since the facility does not have access to limestone reserves, it will receive clinker from a Shree unit in Ko...

Shree Cement reportedly raising over INR20bn through QIP offering

19 November 2019, Published under Cement News

India’s Shree Cement Ltd is reportedly in an advanced stage of raising more than INR20bn (US$278.36m) through a qualified institutional placement (QIP) offering, according to the Mint. "The money will be used for capex and debt reduction. They have been meeting investors for this purpose and are targeting to close this fundraise within this quarter," said a source for the Mint. "They could raise anywhere between INR20-INR30bn depending on demand from investors." In October the company had ...

Shree’s sustainable path

04 November 2019, Published under Cement News

India’s cement industry has introduced several initiatives to place it on a path towards more sustainable cement production. Shree Cement highlights the actions it has taken to integrate sustainability into its cement production process. By Dr Anil Kumar Trivedi, Shree Cement Ltd, India. As a signatory to the Cement Sustainability Initiative, Shree Cement has delivered on its promise to reduce its energy footprint by implementing leading industry practices and transferring kn...

Shree Cement sees fivefold profit jump in 2QFY19-20

22 October 2019, Published under Cement News

Indian cement producer Shree Cement has seen its profit surge fivefold to INR3.133bn for the quarter ended 30 September 2019 (2QFY19-20). In the year-ago period, the company posted a consolidated net profit of INR637.7m, according to a company filing to the Bombay Stock Exchange. The consolidated total income of the company increased to INR30.308bn, up 4.3 per cent when compared with INR29.072bn in the 2QFY18-19.

Shree Cement records 37% net profit increase

16 August 2019, Published under Cement News

India’s Shree Cement has reported a six per cent YoY increase in consolidated revenue for the quarter ending 30 June, rising to INR33.54bn (US$470.4m) from INR31.63bn. Net profit surged 36.8 per cent to INR3.82bn from INR2.79bn. The cement segment saw an 8.5 per cent rise in revenue to INR31.15bn, compared with INR28.69bn in the year-ago period. While cement sales volumes contracted 13 per cent to 6.1Mt, this was offset by higher prices. Standalone revenue recorded a modest decline of 2.4...

Shree Cement awards Gebr Pfeiffer with new order

08 August 2019, Published under Cement News

India’s Shree Cement has awarded Gebr Pfeiffer with an order to equip its grinding plant in Pune, Maharashtra. The MVR 6000 C-6 mill can alternately produce 300tph of OPC at a fineness of 3100 cm²/g according to Blaine, PPC containing as much as 35 per cent of fly ash to a fineness of 3500cm²/g, or 180tph of GGBFS at a fineness of 4500cm²/g. The unit will be equipped with a 6700kW drive. A previous MVR 6000 C-6 mill order for Shree Cement Gebr Pfeiffer SE will supply the core co...

Targeting digital innovation

12 July 2019, Published under Cement News

This week, LafargeHolcim announced that it is launching its 'Plants of Tomorrow' project. The implementation of the Internet of Things (IoT) and smart technology is already having a big impact on the thinking of what can be achieved in the way of cost reductions and efficiency gains for the cement sector. Manufacturing companies have been quick to embrace cloud technology, although controlling the budget spend is often a challenge. Findings of a Nutanix Enterprise Cloud report recently s...

Shree Cement commissions 2.5Mta of grinding capacity

28 June 2019, Published under Cement News

India’s Shree Cement has commenced commercial production at its new 2.5Mta grinding unit in Seraikela-Kharsawan district, Jharkhand. The fresh capacity is one of a number of new grinding projects that the company set out to commission by 2020. Last month, it also announced plans to add 3Mta of capacity to its unit in Pune .

Shree Cement sees 14% revenue increase and plans new capacity

20 May 2019, Published under Cement News

India’s Shree Cement has announced a 19.6 per cent YoY fall in net profit to INR3.21bn (US$46.18m) for the 4QFY18-19. However, revenue increased 14.2 per cent to INR33.29bn from INR29.15bn. The company’s cement segment recorded a 16.9 per cent increase in revenue to INR32.84bn from INR28.11bn. Meanwhile, the company has also announced plans to add 3Mta of grinding capacity to its unit in Pune, Maharashtra. The project is expected to be completed by September 2020 and represents an invest...

The road to net-zero

08 May 2019, Published under Cement News

Shree Cement, one of India's top three cement producers with a production capacity of 35Mta, has announced its commitment to set a science-based target to cut its greenhouse gas (GHG) emissions and help tackle climate change. The company follows two other leading Indian cement producers, Dalmia Cement and Ambuja Cement in setting science-based targets and provides "a powerful signal of change", according to global non-profit coalition We Mean Business. However, is reaching net-zero emission...