Economy & Market

Binani to sell 40% in cement arm to cut debt, expand

Published

4 years ago

October 14, 2021

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To sell up to 40 per cent stake in its subsidiary Binani Cement, Binani Industries is in talks with potential financial investors such as JP Morgan and State-owned funds in the Middle East.

It seeks to raise capital to cut debt and expand cement capacities. Ernst & Young (E&Y), Braj Binani group’s banker for the transaction, has held preliminary talks with the prospective investors, sources said. E&Y will soon approach the investors with a document detailing the acquisition opportunity, one person said. Sunil Sethy, Executive Vice-Chairman and Managing Director, Binani Industries said that the company has taken an in-principal approval from the board to divest its holding up to 40 per cent to financial investors on a structured basis to facilitate its liquidity position and to consolidate its growth plans. E&Y, among others, is assisting Binani by talking to prospective financial investors. The divestment is on a structured and phased manner and the firm hopes to complete it within the next few weeks, said Sunil Sethy. The potential investors may include Abu Dhabi Investment Authority and Qatar Investment Authority. The company, with a capacity of 11.25 mtpa, has a 2 mtpa grinding unit in Dubai’s Jebel Ali Industrial Area and wants to scale up its capacities in China and Dubai. Its expansion plans include increasing domestic capacity by 3 mtpa and plants are located in Rajasthan.

Contact: Binani Cement.

Tel: 91 141 4134300 / 4124 300.

Website: www.binaniindustries.com

Concrete

Shree Cement reports 2025 financial year results

Published

5 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

5 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

5 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/