Economy & Market

Jaiprakash Associates may offload stake in Gujarat cement plant

Published

4 years ago

October 14, 2021

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Jaiprakash Associates is reportedly in the final stages of offloading its 100 per cent stake in the 4.8-mn tpa Gujarat cement plant for Rs 4,000 crore at an enterprise valuation of $150 a tonne, according to a Credit Suisse report.

Jaiprakash Associates, which is the parent company of the Jaypee Group, wants to sell the unit in order to repay part of its debt.

The report adds that lack of fund-raising would deteriorate its debt coverage ratios and result in lenders charging a higher interest rate for the firm.

The consolidated debt of the company stood at Rs 53,174 crore as of March 2011. Its standalone debt, as of September 2012, was Rs 19,549 crore, exchange filings showed.

The company raised huge debt to finance several of its high-cost infrastructure projects, including the Noida-Delhi Expressway, apart from investing in cement units.

Jaiprakash Associates and the Birlas held discussion on the stake sale and the former was demanding a valuation of $170 a tonne. However, Birlas refused to agree to that and hence the deal was delayed. It is learnt that the deal may be carried out at $150 a tonne.

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/