Economy & Market

Jaiprakash may sell 51% stake in cement biz

Published

13 years ago

August 5, 2012

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Jaiprakash Associates may sell 51 percent stake in its cement operations in Gujarat to the Irish firm CRH at an enterprise value of about Rs 4,200 crore, media reports indicate.Talks between both the parties are at an advanced stage and the Irish firm may secure a right to increase its holding to 75 per cent at a pre-determined price. The enterprise value of Jaypee Cement Corp, which houses two plants in Sewagram and Wanakbori-each having a capacity of 2.4 million tonne-includes debt of about Rs 1,800 crore. The deal will help Jaiprakash Associates pare its debt by about Rs 1,800 crore and will also infuse fresh cash of about Rs 1,200 crore in the company.The company has a consolidated debt of about Rs 45,000 crore. While the Gujarat transaction is near closure, CRH and Jaiprakash Associates continue to be in discussion for the Andhra Pradesh cement unit, reports indicate.Some other buyers have also evinced interests in this unit, which has an annual capacity of five million tonne. The valuation for the Gujarat plants translates to about $160 per tonne, but that for the Andhra Pradesh unit is expected to be slightly lower.

Concrete

Shree Cement reports 2025 financial year results

Published

4 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

4 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

4 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/