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Sagar Cements in talks to buy Andhra Cements

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World Cement,

Sagar Cements - based in Hyderabad - is in advanced talks to purchase Jaypee Group’s Andhra Cements at an enterprise valuation of Rs 1100-1150 crore.

Andhra Cements has two plants in Andhra Pradesh with a combined capacity of 2.6 million t.

Andhra Cements posted a net loss of Rs 19.83 crore on the revenue of Rs 110.6 crore in the quarter ended September 2015. The company was sitting on a debt of Rs 801 crore at the end of fiscal year 2015.

Sagar Cements produces cement at its plant in Mattampally, Nalgonda district of Andhra Pradesh. The company manufactures various varieties of cement such as portland cement, portland pozzalona cement, and sulphate resistant cement.

The company currently has an annual cement production capacity of 2.35 million t, and a clinker capacity of 2 million t.

Edited from sources by Joseph Green. Sources: Live Mint, Deal Street Asia, Economic Times

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