Economy & Market

CRH Cements to buy Jayajothi Cements for Rs 1,400 cr

Published

12 years ago

November 8, 2013

admin

CRH Cements company is to buy Sree Jayajothi Cements (SJJC) from the diversified Shriram Group for Rs 1,400 crore. CRH is an Irish building materials giant. Through its equal joint venture, My Home Industries, CRH has been operating in India since 2008, when it acquired the 50 per cent stake. Currently CRH has three manufacturing units in Andhra Pradesh that produces 3.2 million tonne of cement per annum.

The company has also set up a 1.5 million tonne grinding capacity. This acquisition will help CRH further scale up its India operations, especially in Andhra Pradesh. Set up in 2006, SJJC has a 2.3 million tonne/annum cement plant which includes a 1.9 million tonne clinker facility in Kurnool district.

The listed engineering and construction arm of the $8 billion Shriram Group, Shriram EPC took a controlling stake in SJJC last February after the original promoter T.R. Kannan failed to repay Rs 563-crore dues to the engineering contractor which was a vendor to the company. The take-over by Shriram EPC was a fairly unusual event.

Concrete

Shree Cement reports 2025 financial year results

Published

6 days ago

June 17, 2025

admin

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

6 days ago

June 17, 2025

admin

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

6 days ago

June 17, 2025

admin

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/