Economy & Market

Govt Approves Rs 86 cr Subsidy to Adhunik Cements

Published

4 years ago

October 14, 2021

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In a move to promote industrialisation in the North Eastern region, the Union government has approved a Rs 86.09 crore subsidy to Adhunik Cements in Meghalaya. The subsidy has been cleared to the company under the Central Capital Investment Subsidy Scheme of the North- east Industrial and Investment Promotion Policy. The Cabinet Committee on Economic Affairs approved the subsidy.

Not only will the subsidy provide incentives to the operational units, it will also boost the confidence of investors in the states of the North-east region. This is the first claim under NEIIPP, 2007 which has been presented for consideration to the Union Cabinet paving the way for approval of other similar cases.

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/