Ramco Cements is reportedly planning a new cement plant in Andhra Pradesh at an initial investment of Rs.1500 crore. The total investment by the end of the project is expected to be Rs.3000 crore. The group is said to have entered talks with the AP state government, which has allegedly welcomed the proposal. There has also been talk of setting up a new rail line to aid with distribution of the cement, which requires clearance from the central government.
In July, Ramco reported a slight decline in net sales/income in its results for the April – June quarter. In general, results for this quarter have been mixed among Indian cement companies, as sluggish demand and higher costs took their toll.
Ramco Cements witnessed a decrease in 1Q15 net profit, compared to the same period a year earlier, due to continued sluggishness in the domestic cement market.
Indian cement manufacturer Ramco Cements posted a net profit of Rs.24.99 crore in the quarter ended 31 March 2014, a 61% y/y decline compared to the corresponding quarter in 2013.