Economy & Market

Birlas may challenge Lodha-led acquisition of two cement units

Published

10 years ago

August 31, 2015

admin

The ownership dispute between the Birla family and the Lodhas, who currently manage Birla Corporation could create obstacles for the deal, analyst tracking the developments said. They expect a flare up in Priyamvada Birla ?will? controversy.

After the death of Priyamvada Birla in 2004, the widow of MP Birla, her ?will? had named RS Lodha, a chartered accountant and close confidant of the family, as the heir to her entire estate which ran into $1 billion.This was hotly contested by the Birla family on the legal front. Today, the late RS Lodha?s son, Harsh Lodha, is the chairman of Birla Corporation.

The M P Birla Group has around 63 per cent in Birla Corporation. Lodha also has the support from financial institutions for running the company.

Concrete

Shree Cement reports 2025 financial year results

Published

4 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

4 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

4 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/