NEERAJ AKHOURY
Shree Cement's installed power capacity touches 1 GW, to focus on green generation
India's third largest cement manufacturer, Shree Cement, announced on Monday that it has achieved an installed power capacity of 1,000 MW. This milestone was reached with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit. The accomplishment involves a mix of solar, wind, thermal, and waste heat recovery power plants.
Shree Cement Q4 Results: Net profit up over a fifth to Rs 662 crore, EBITDA at all-time high
The country’s third-largest producer of cement, in terms of capacity, saw its net revenue from operations rise 7% on year to Rs 5,101 crore. The relatively lower growth in revenue as compared to the sales growth indicates that the company, too, felt the impact of weaker pricing.
Shree Cement Q4 Results: PAT jumps 28% YoY to Rs 526 crore; Rs 55/sh dividend declared
On Tuesday, Shree Cement announced a significant 28% year-on-year increase in its consolidated net profit, reaching Rs 675 crore for the quarter ending March 31, 2024, compared to Rs 526 crore reported in the same period last fiscal year.
Shree Cement inaugurates three MTPA plant in Andhra Pradesh
The newly inaugurated plant places a significant emphasis on environmental sustainability. This state-of-the-art facility is designed to utilise 30 per cent Alternate Fuel and Raw materials (AFR), such as municipal waste and biomass. It will set a standard for the industry in India, having the highest AFR usage in the sector.
Neutral on Shree Cements, target price at Rs 27,700: Motilal Oswal Financial Services
Shree Cements, incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 93600.68 crore) operating in Cement sector.
Shree Cement forays into ready mix concrete segment with ‘Bangur Concrete’
Shree Cement now has a total ready-mix-concrete capacity of 512 cubic meters per hour, of which the Hyderabad plant has a capacity of 90 cubic meters per hour. It cement production capacity in India is currently more than 50 million tonne per annum.
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Shree Cement inks pact with StarCrete to acquire 5 RMC plants for Rs 33.50 cr
Shree Cement Limited has signed an asset purchase agreement with StarCrete LLP to acquire five operational RMC plants for Rs 33.50 crore. The company, in a statement, said with this asset purchase, it has announced its foray into the RMC (ready mix concrete) business.
Here’s what industry captains of domestic manufacturing have to say about Budget 2024
The announcement to increase the capital expenditure on infrastructure is a welcome step, which would have a multiplier effect on the nation’s overall economy, says TV Narendran, CEO, Tata Steel.
Shree Cement shares jump 6% on strong Q3 earnings. Nuvama upgrades stock to ‘Hold’
Net revenue from operation stood at Rs 4,901 crore up 20% YoY from Rs 4,069 crore reported in the year-ago period. On a sequential basis, it was up 7% over Rs 4,585 crore reported in Q2FY24.
Shree Cement’s Akhoury appointed Chairman for state-owned cement research body
Akhoury, the managing director of Kolkata-based Shree Cement, was also appointed as the- president of the Cement Manufacturers’ Association last year. He joined Shree Cement in October 2022, before which he has worked with ACC, Ambuja Cement, Holcim India and the Tata group.
Shree Cement commissions high capacity kiln for Rs 3500 crore Rajasthan plant
Shree Cement Limited on Thursday announced the commissioning of a kiln at its new integrated production facility in Nawalgarh, Rajasthan, with a rated capacity of 11,500 tonnes per day. This kiln stands among one of the highest capacity units in the world, and is empowered by cutting-edge technology, allowing utilisation of alternative fuels and ensuring optimal energy efficiency, the company said.
Shree Cement MD on double-digit growth, tax-evasion charge & more
Shree Cement has announced a Rs 7,000-crore capex to create about 12 million tons of organic capacity in India. We will continue to grow very strongly in an organic way. The capex is largely funded through internal accruals. Going forward, we are not totally averse to going into the debt market.”
Shree Cement to invest Rs 7,000 cr on capacity expansion
Shree Cement announced an investment of INR 7,000 crore for capacity expansion, including clinker capacity of 3.65 million tonnes in Rajasthan and 6 million tonnes of cement capacity in Rajasthan and Uttar Pradesh. The company will also invest in two projects in Karnataka.
Neeraj Akhoury elected as President of Cement Manufacturers' Association; Parth Jindal appointed as Vice President
Both were unanimously elected at the Extraordinary General Meeting (EGM) of CMA held on July 14, 2023, said a statement from the association. Akhoury, who has 30 years of experience in the steel and cement industries, takes over from UltraTech Cement's Managing Director K C Jhanwar.
Shree Cement completes Rs 550 crore cement plant in Purulia
Shree Cement has completed its new cement plant in the Purulia district of Bengal, with trial production already underway. The plant has an annual capacity of 3 million tonnes and cost around Rs 550 crore ($78 million) to build. Shree Cement's total cement production capacity has now reached 50 million tonnes per annum across 15 plants. The company aims to reach a capacity of over 80 million tonnes in the coming years to serve the growing demand in Bengal and Jharkhand.
Gautam Adani's son Karan to helm newly-bought cement firms
The cement maker has also named NS Sekhsaria chairman Emeritus after he resigned from the position of firm's Chairman and director. Meanwhile, LIC nominee director Arun Kumar Anand has tendered his resignation from the board.
Ambuja Cements plans ₹3,500 crore expansion
The company is also looking at expanding an existing 3.2-million-tonne clinker facility at Bhatapara, Chhattisgarh.
Ambuja Cements begins commercial production at Marwar Plant in Rajasthan
“The plant has deployed all modern equipment and technology to produce cement in a more environmentally friendly manner. It has a Waste Heat Recovery System (WHRS) that converts waste heat derived during the production process into energy,” the company said.
Ambuja Cements to invest Rs 310 crore to expand Ropar unit in Punjab
The expansion at the Ropar plant is expected to be completed by June 2023 and after this total capacity of the cement grinding unit at Ropar will increase to 4.5 MTPA from 3 MTPA. "This expansion will help the company maintain its share and competitiveness in the northern markets in India. The Ropar brownfield expansion is part of the company's strategy to increase its total cement capacity to 50 MTPA in the mid-term," said Ambuja Cements.
We are already seeing green shoots of recovery in the economy: Narotam Sekhsaria, Ambuja Cement
“Our growing presence in suburban and rural regions, along with strategically located grinding units, enables us to service these markets better and faster. Additionally, our upcoming capacities will help us carve out a larger market pie,” Sekhsaria said.
Ambuja Cement to carry out a cleanup initiative at Narendra Modi Stadium
“Our collaboration with BCCI, brings us a step closer to building a cleaner future. Our waste management division, Geocycle has taken many initiatives in past to help India reach its ambitious goals on the environment.” said, Neeraj Akhoury, CEO LafargeHolcim India and Managing Director & CEO, Ambuja Cements Limited.
Cement market may see more consolidation: Neeraj Akhoury, CEO India, LafargeHolcim and managing director, Ambuja Cements
India has a huge market growth potential for LafargeHolcim and is also one of the important emerging markets in the world. Both Ambuja and ACC will look at potential organic and inorganic opportunities based on the strategic fit - in terms of existing footprints, geo-mix and synergies with existing assets.
ACC and Ambuja Cement to invest Rs 780 crore to set up waste heat recovery power plants
The WHRS will be installed at Ambuja Cement plants in Bhatapara (Chhattisgarh), Suli and Rauri (Himachal Pradesh) and Marwar Mundwa (Rajasthan), and at ACC plants in Jamul (Chhattisgarh) and Kymore (Madhya Pradesh). All projects are slated to be completed in the next 16 to 18 months.
Govt's budgetary push for infra to boost cement industry: CMA
Finance minister Nirmala Sitharaman announced the plans to set up five new smart cities on PPP model and 100 more airports to be set up by 2024 to support UDAN scheme and allocated Rs 1.7 lakh crore to transportation. Cement manufacturers association said the emphasis on infrastructure development will go a long way to revive cement demand.
ACC posts 39% rises in profit for June quarter
Consolidated net profit for the period increased by 38.6% to Rs 455.70 crore.
ACC Q4 profit rises over twofold to Rs 206 crore
The company had posted consolidated profit of Rs 90.92 crore in the year-ago period.
ACC reports over 2-fold jump in consolidated net profit in Q3
Consolidated total revenue from operations jumped 9.62% year-on-year to Rs 3,116.49 crore
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