Economy & Market

Himachal govt asks cement firms to cut prices

Published

12 years ago

July 4, 2013

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Cement companies in Himachal Pradesh have been asked by the State government to lower the prices of the key building material. The cement companies must reduce the prices of cement bags sold in Himachal as the state is suffering in terms of pollution, losing resources and grappling with health hazards due to the cement plants, The State Industries Minister Mukesh Agnihot said on April 4.

The Minister asked why should the people in the state pay more for cement bags, which is costing Rs 340 in Himachal compared to Rs 275 in adjoining states. Himachal is producing 10.11 million tonne of cement annually and it was not justified that the cement companies reap a huge profit of Rs 100-150 per on the cement bags sold in the state, he said.

The Minister said that the a cement manufacturer in the state has agreed to supply the cement to government at Rs 155 per bag against the price of Rs 174 quoted earlier, resulting in saving of Rs 18-24 crore on this rate contract in just one year.

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/