Economy & Market

Cement firms fail to set up plants in Himachal, get notices

Published

12 years ago

December 5, 2013

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In Himachal Pradesh, the State Cabinet has decided to withdraw licenses issued to four cement companies for setting up cement plants. In this regard, the State government has now issued notices to the companies concerned. The companies have reportedly failed to install the cement plants, within the stipulated time, despite the State given its approvals, say media reports.

The State Cabinet, presided over by Chief Minister Virbhadra Singh, decided to issue notices to Harish Cements, Lafarge India, India Cements and Jai Prakash Associates for failing to set up cement plants despite the government having granted approvals many years ago.

The Cabinet also decided to grant prospecting license to M/S Reliance Cement Company for setting up of a large cement plant based on limestone, shale and quartzite in village Sugarthi, Thangar, Kura Khera, Pauli Kheram Kandal and Bedera in Chopal tehsil of Shimla district measuring 25 square kilometres (2500 hectares).

Concrete

Shree Cement reports 2025 financial year results

Published

5 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

5 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

5 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/