Economy & Market

JSW Cement eyes buyout of Shiva Cement

Published

8 years ago

January 10, 2017

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JSW Cement is close to buying out the entire 37.15 per cent promoters’ stake, including that of ACC which owns 12.65 per cent equity in the Odisha-based Shiva Cement, reports the Business Line newspaper.
JSW Cement is expected to make an open offer to acquire 20 per cent after acquiring majority stake.
An announcement is expected after Shiva Cement’s board meeting ends, according to sources quoted in the report.
Shiva Cement has annual production capacity of 1.32 lakh tonnes with plans to expand to 2.6 million tonnes in phases.
Shree Cement has also shown interest to acquire stake in Shiva Cement.
If deal with JSW comes through, it will be the first in the cement industry for this year. The deal also comes at a time when valuations are depressed due to weak demand.

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/