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Scan Steels CFO Resigns, Successor Named

CFO of Scan Steels, Gobinda Chandra Nayak resigns.

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Gobinda Chandra Nayak has resigned from his position as Chief Financial Officer (CFO) at Scan Steels, a prominent player in the Indian steel industry. His resignation has paved the way for Kalyan Kiran Mishra to take over the role of CFO. The change in leadership is a part of the company’s ongoing restructuring efforts aimed at enhancing its financial management capabilities.

The company’s management expressed gratitude to Nayak for his contributions and wished him success in his future endeavors. Kalyan Kiran Mishra, who is set to assume the responsibilities of the CFO, brings with him a wealth of experience in financial and operational management. Mishra’s appointment is expected to further streamline the company’s financial operations and support its growth trajectory in the competitive steel industry.

Scan Steels has been focusing on strengthening its financial health and operational efficiency, especially amidst the challenges faced by the domestic steel sector. The new CFO is expected to play a crucial role in driving strategic financial decisions that align with Scan Steels’ long-term goals.

This leadership change is anticipated to have a positive impact on Scan Steels, as it continues to expand its market presence and improve its financial outlook. The company’s shareholders and industry stakeholders are likely to keep a close watch on the new CFO’s initiatives and approach toward enhancing shareholder value.

Concrete

Star Cement launches ‘Star Smart Building Solutions’

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Star Cement has launched ‘Star Smart Building Solutions,’ a new initiative aimed at promoting sustainable construction practices, as per a recent news report. This venture introduces a range of eco-friendly products, including tile adhesives, tile cleaners and grouts, designed to enhance durability and reduce environmental impact. The company plans to expand this portfolio with additional value-added products in the near future. By focusing on sustainable materials and innovative building solutions, Star Cement aims to contribute to environmentally responsible construction and meet the evolving needs of modern infrastructure development.

Image source:https://www.starcement.co.in/

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Nuvoco Vistas reports record quarterly EBITDA

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Nuvoco Vistas reported its highest-ever quarterly consolidated EBITDA of Rs.556 crore in Q4 FY25, with annual EBITDA at Rs.1,391 crore. Cement sales reached 19.4 MMT in FY25, with Q4 contributing 5.7 MMT. Revenue rose 4 per cent YoY to Rs.3,042 crore in Q4. Net debt reduced by Rs.390 crore to Rs.3,640 crore. The company received NCLT approval for acquiring Vadraj Cement, targeting 31 MMTPA capacity by FY27. Key marketing initiatives, expanding RMX and MBM businesses, and a focus on sustainability (457 kg CO2/tonne) drove performance. Nuvoco remains focused on premiumisation, operational efficiency, and market expansion.

Image source:nuvoco.com

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UltraTech Cement increases capacity by 1.4Mt/yr

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UltraTech Cement has expanded its production capacity by 1.4 million tonnes per annum (Mt/yr) through a combination of debottlenecking efforts and operational efficiency upgrades across several of its plants. The enhancements include an addition of 0.6Mt/yr in grinding capacity at the Nagpur facility in Maharashtra and a combined 0.8Mt/yr at the Panipat and Jhajjar units in Haryana. With these upgrades, the company’s total domestic grey cement capacity has risen to 184.8Mt/yr, while its global capacity now stands at 190.2Mt/yr.

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