Cement News tagged under: Shree Cement

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Shree Cement records 21% revenue increase

23 January 2019, Published under Cement News

India's Shree Cement has announced that its net profit fell 10 per cent YoY in the third quarter of FY18-19 ended 31 December, declining to INR3.01bn (US$42.28m) from INR3.33bn of the year-ago period. However, the company’s revenue advanced 21 per cent to INR27.81bn compared with INR23.02bn of the 3QFY17-18. EBITDA grew 25 per cent YoY to INR7.1bn from INR5.7bn, while the operating margin saw a slight increase to 25.6 per cent from 24.7 per cent of the same quarter last year. Shree Cement...

Shree Cement commissions clinker line at Karnataka

27 December 2018, Published under Cement News

Shree Cement (India) has commissioned the clinker section of its 3Mta integrated cement plant at Kodla village in the Kalaburagi District of Karnataka. Shree Cement is one of India’s most rapidly expanding cement companies, with its principal cement manufacturing operations located in six states across north and eastern India.

Gebr Pfeiffer sells first TRT Triples dryer in India

16 October 2018, Published under Cement News

Three Cement has ordered a Gebr Pfeiffer TRT 5000/8/0 Triplex dryer from Gebr Pfeiffer. The equipment will be used to reduce the company's FGD gypsum to a mixture content of below two per cent. This will enable the artificial gypsum to be processed oil other cement plants in the future with the weight of the product being reduced. Gebr Pfeiffer (India) Pvt Ltd will install the 50th dryer plant at the end of 2018, with commissioning expected in spring 2019. Three Cement also plans to partia...

Shree Cement to set up 3Mta grinding plant in Cuttack

14 August 2018, Published under Cement News

Shree Cement is setting up a 3Mta cement grinding unit at Chandrabali village, Shyampura, in Cuttack district of Odisha. The INR452,550m (US$2m) facility is being constructed by Petron Engineering Construction. The scope of the contract includes civil work of plant building, silos and miscellaneous work for the project. Chief Minister of Odisha, Naveen Patnaik, performed the ground breaking ceremony in 2017. The project is expected to generate employment opportunity for 243 people Comm...

Shree Cement gets Raipur coal linkage

13 August 2018, Published under Cement News

India’s Shree Cement was awarded the coal linkage for its Raipur plant in Chhattisgarh. The contract for Grade 7 coal was awarded to the cement producer following a e-auction. The company paid a winning premium of INR130/t (US$18.76/t), 5.63 per cent of the notified price.

Shree Cement acquires 98% stake in UCC

12 July 2018, Published under Cement News

Shree Cement has completed the acquisition of a 97.6 per cent stake in the UAE’s Union Cement Co (UCC). The deal was struck through the company’s wholly-owned subsidiary, Shree International Holdings, incorporated in the UAE. The acquisition was managed by Ras Al Khaimah’s Investment and Development Office (IDO) on behalf of the government, according to an official statement. "The acquisition of UCC manifests Shree’s strategy to expand overseas, taking the UAE as a launch pad for more inv...

Shree Cement budgets for United Cement acquisition

12 June 2018, Published under Cement News

Shree Cement plans a capital expenditure of INR35,000m (US$519.1m) in the current financial year including INR20,000m on the completion of the deal to acquire UAE-based United Cement Co PSC. The management of Shree Cement, led by managing director HM Bangur, has historically avoided taking over existing capacity because it is of the view that it can set up plants ground up at a much lower cost, reported Livemint. Shree will spend at least INR15,000m in the current financial year to acquire...

Shree Cement announces investment plans

11 June 2018, Published under Cement News

India’s Shree Cement Ltd has announced a INR35bn (US$519.79m) capital expenditure budget for the current financial year. The amount includes INR20bn which will be spent to conclude the acquisition of UAE-based United Cement Co PSC by July, a few months ahead of plans, according to Subhash Jajoo, CFO, Shree Cement. Furthermore, the company plans to invest INR13-14bn to set up grinding units in Odisha, Jharkhand and West Bengal. Once completed, these plans would see the company raise its prod...

Shree Cement to acquire railway siding operator

01 May 2018, Published under Cement News

The board of India’s Shree Cement Ltd has approved the acquisition of Raipur Handling and Infrastructure Pvt Ltd, a private railway siding operator, for INR590m (US$8.8m). The acquisition will help the company improve the management of goods transportation on the railway network, according to a stock exchange disclosure. While the deal is subject to the approval from railway authorities, it is expected to be completed within three months of the execution of a definitive agreement, accordi...

Shree Cement reports 31% increase in net profit

30 April 2018, Published under Cement News

India’s Shree Cement has reported a 31.1 per cent YoY rise in standalone net profit for the quarter ending 31 March 2018, increasing to INR3.99bn (US$60.14m) from INR3.04bn. Net revenue surged 18.1 per cent to INR28.11bn, compared to INR23.80bn of the year-ago period. The cement sector helped boost the revenue, with a six per cent uptick in cement sold. This has been attributed to an increased demand in the northern and central regions of the country, according to Live Mint. However, fue...