India Cements Ltd (ICL), the world’s largest cement business, is working nonstop to generate a profit after posting losses for the entire year and fourth quarter of FY 23. It has developed a variety of action plans, including ways to monetize non-core assets, renovate ageing plants for greater efficiency and lower operating costs, and launch marketing campaigns aimed at growing volumes. India Cements anticipates that by implementing these steps, it will achieve break-even in the first quarter of FY24 and generate profits in subsequent periods. For the full year of FY23, the company incurred a net loss of Rs 188 crore as against a net profit of Rs 39 crore.
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