India Cements has issued its results for the January – March quarter. Decreased demand in southern India led to a net loss of Rs.31 crore, compared with net profit of Rs.27 crore in the same quarter last year. Revenue decline 9.9% from Rs.1190.64 crore last year to Rs.1080.06 crore as cement production fell 11% to 24.65 lakh tonnes.
Also announced is a plan to restructure operations, including a merger with India Cements’ subsidiary Trinetra Cement Ltd. The company plans to consolidate cement operations to improve profitability; the resultant cement capacity would be 15.8 million tpa. Other restructuring measures include the sale of land around the company’s plants in Tamil Nadu and Andhra Pradesh as well as the sale of non-core assets, or the possible development of real estate projects through its real estate division.
India Cements has seven integrated cement plants in Tamil Nadu and Andhra Pradesh, one in Rajasthan and two grinding units in Tamil Nadu and Maharashtra.
Reports indicate that Shree Cement has commissioned its new 2 million tpa cement line at Bangur City, Ras, Rajasthan. The plant was supplied by Gebr. Pfeiffer SE, which provided an MPS 5000 B VRM to grind raw material at a rate of 420 tph.
Anjani Portland Cement Ltd has appointed four additional directors – namely, Smt. Geetha Muthia, Sri. B. Ramesh, Sri. V. Subranmanian and Sri. P. Gopal – and received the resignation of company directors Sri. R.A. Rama Raju, Sri. P. V. Subba Rao, Sri Parankusam Srinivas Ranganathand and Sri. P. Ramachandra Raju. At Orient Cement, CRO Ms. Jyotsna Sharma has resigned effective 15 May.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/27052014/india_cements_4q13_and_other_news_246/