Economy & Market

Birla Corp to buy Reliance Cement

Published

4 years ago

October 19, 2021

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Anil Ambani-owned Reliance Infrastructure on 4th, February 2016 sold its cement subsidiary to Birla Corp for Rs 4,800 crore at a valuation of $140 a tonne.

Reliance Cement has a capacity of 5.5 million tonnes per annum (mtpa) in Madhya Pradesh and Uttar Pradesh. While the transaction will boost Birla Corp?s capacity from 10 mtpa to 15.5 mtpa, the flagship company of M P Birla group will still not be among India?s top five cement companies.

"Reliance Cement fits our plans to grow the business profitably very well and offers lucrative prospects for creating synergy with existing operations." said Harsh V Lodha, chairman, Birla Corp.

RInfra said, "The transaction is subject to approval of the Competition Commission of India and other appl?cable regulatory approvals." Reliance Infrastructure had consolidated debt of Rs 25,800 crore at the end of the last financial year and is selling several assets to improve financial health. The group had announced plans to raise Rs 14,000 crore by selling cement and road assets by March 2017.

Concrete

Shree Cement reports 2025 financial year results

Published

6 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

6 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

6 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/