Connect with us

Concrete

Kesoram to boost cement capacity to 15 MT in next 3-4 years

Published

on

The firm’s overall outlay would be between Rs 350 and Rs 500 crore

Kesoram Industries Ltd, a B K Birla Group subsidiary, announced that it plans to increase its cement production capacity to 15 million tonnes (MT) from 11 MT.

Kesoram, which has demerged its tyres and rayon businesses, is on course to make a profit in the current fiscal year (FY).P Radhakrishnan, whole-time director & CEO, told the media that they have chosen to increase cement capacity to 15 MT in phases over the next 3-4 years, up from 10-11 MT.

The overall outlay would be between Rs 350 and Rs 500 crore.He said that the company’s financials would improve in the next quarters as debt reduce and low-cost funds refinance. He added that in 2022, they will turn profitable on a net basis.

Radhakrishnan said they are always attempting to reduce their interest cost to enhance the financial situation. This year, they want to discharge the debt of Rs 500-600 crore and refinance a portion of the total existing debt (Rs 300-400 crore) with low-cost funds to reduce interest costs.With high-cost Optionally Convertible Debentures (OCDs) and Non-Convertible Debentures (NCDs), the business has an outstanding debt of Rs 1650 crore, down from over Rs 2000 crore a year earlier.

The B K Birla group firm also stated that it is shifting its product mix to include more value-added cement, which would increase its EBITA by another Rs 150 crore in the next two years, bringing it to over Rs 950 crore yearly.

An offcial stated that they’re always adding mixed cement to their inventory and plan to increase this to 80% in two years from currently 50%.Kesoram planned to increase capacity by one million tonnes by de-bottlenecking and then add a kiln to the existing facility to decrease capital expenditures.

After weighing all possibilities, the firm will shortly begin accepting fixed deposits, which would help the company get closer to its target of Rs 200 crore.

Image Source


Also read: Ramco Cements plans for at least Rs 1,200 cr capex in two years

Concrete

15th Cement EXPO to be held in March 2025 in Hyderabad

Published

on

By

Cement EXPO 2025, which will be held along with the 10th Indian Cement Review Conference and the 8th Indian Cement Review Awards, promises to be bigger, drawing in greater participation, fostering more profound discussions and showcasing the continued evolution of the cement industry.

Mumbai

After the arousing success of the 14th Cement EXPO, which was held on December 14-15, 2023 at Manekshaw Centre along the 9th Indian Cement Review Conference and the 7th Indian Cement Review Awards, the next edition of Cement EXPO will be hosted in March 2025 in Hyderabad. The 15th Cement EXPO promises to be bigger and even more impactful than 2023 edition with more participating companies and larger exhibition area. The 3-in-1 event is organised by FIRST Construction Council (an infrastructure think tank) and Indian Cement Review (ICR).

The 14th Cement EXPO received big thumps up from the industry with over 1,500 senior managers/decision makers visiting the expo. The EXPO was inaugurated by Dr Vibha Dhawan, Director General, TERI; and Ali Emir Adiguzel, Founder and Director, World Cement Association, along with Pratap Padode, Founder, FIRST Construction Council (FCC). Top notch companies from the Indian cement industry’s supply chain presented their latest innovations and offerings in the sprawling two-tiered exhibition space.

The 14th Cement EXPO garnered significant support from the Ministry of Road Transport and Highways, Government e-Marketplace (GeM), and the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India (GoI).

The 7th Indian Cement Review Awards presented awards to 11 companies in different categories recognising their contribution to growth and innovation in the industry. While Parth Jindal (Managing Director of JSW Cement) was conferred with the Indian Cement Review – Person of the Year Award 2023, Vinita Singhania (Vice Chairman and Managing Director at JK Lakshmi Cement Ltd) was presented with the prestigious Lifetime Achievement Award.

With a theme centred on ‘Driving Sustainability Through Technology’, the 9th Indian Cement Review Conference hosted thought provoking discussions, panel sessions, and presentations, showcasing the industry’s commitment to embracing cutting-edge solutions.

The success and resonance of the 2023 edition has laid the groundwork for the 15th Cement EXPO 2025, which is bound to be bigger, drawing in greater participation, fostering more profound discussions and showcasing the continued evolution of the cement industry.

The EXPO, along with the 10th Indian Cement Review Conference and the 8th Indian Cement Review Awards, will contribute significantly to the ongoing transformation of the cement industry.

Continue Reading

Concrete

Shree Cement breaks ground at two sites

Published

on

By

Shree Cement has recently commenced the construction of two new 3.5Mt/yr cement plants in Etah and Prayagraj, Uttar Pradesh, as per news reports. This development is in line with the company’s memorandum of understanding (MoU) with the Uttar Pradesh government, signed in February 2023. With the aim of achieving 9Mt/yr in installed capacity by February 2026, the company plans to invest an estimated US$241 million. Currently, Shree Cement operates a 2Mt/yr integrated cement plant in Bulandshahr.

Continue Reading

Concrete

JK Lakshmi Cement records hike in profits

Published

on

By

JK Lakshmi Cement announced a significant increase in standalone net profit, which jumped by 69 per cent to Rs.124.06 Crores in the Oct-Dec 2023 quarter. The company achieved a 7 per cent increase in standalone net sales and reported a clinker capacity utilisation of 105 per cent and cement capacity utilisation of 79 per cent in the same quarter. The company attributed its improved profitability to higher volume, better product and sales mix, and a reduction in fuel costs.
In terms of sustainability initiatives, the company is implementing projects to enhance its TSR and WHR capacity, as well as sourcing solar power to increase the share of renewable energy at its Durg Cement Plant. Additionally, the company’s subsidiary, Udaipur Cement Works Ltd (UCWL), successfully commissioned its second clinker line and is expected to commission its cement grinding capacity expansion soon.
The company is also undertaking expansion projects, including increasing clinker capacity and establishing cement grinding units at various locations, with a proposed investment of Rs.2,500 crores. Funding for this project is proposed to be through term loans from banks and internal accruals. The company also announced an interim dividend of 40 per cent.

Continue Reading

Trending News

SUBSCRIBE TO THE NEWSLETTER

 

Don't miss out on valuable insights and opportunities to connect with like minded professionals.

 


    This will close in 0 seconds