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India Cements appoints N Srinivasan as Chairman Emeritus
India Cements Ltd has appointed N Srinivasan as Chairman Emeritus of the company, effective from April 1, 2023. Srinivasan, who has been associated with India Cements for over four decades, has held various leadership positions within the company, including that of Managing Director and Chairman.
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India Cements reports robust growth in Q3FY23
India Cements Ltd has reported a strong set of financial results for the third quarter ended December 2022. The company's net sales grew by 12% YoY to Rs 1,682 crore, while its operating profit increased by 20% YoY to Rs 312 crore. The company's net profit also rose by 22% YoY to Rs 192 crore.
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India Cements to invest Rs 1,500 crore in capacity expansion
India Cements Ltd plans to invest Rs 1,500 crore in capacity expansion over the next two years. The company plans to add 2.5 million tonnes per annum (MTPA) of cement capacity at its existing plants in Tamil Nadu and Andhra Pradesh.
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India Cements Q3 consolidated profit rises 29% to Rs 213 cr
The company attributed growth in the realization, improved product mix, and judicious cost control during the quarter.
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India Cements to set up 3.2 MT cement grinding unit in Madhya Pradesh
The proposed grinding unit will have a capacity of 3.2 million tonnes per annum (MTPA).
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India Cements in talks to acquire Maithon Power for Rs 1,000 crore
Maithon Power is a coal-based thermal power plant with a capacity of 2x150 MW.
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India Cements Q3 net profit rises 15% to Rs 147 crore
India Cements Ltd has reported a 15 per cent increase in its net profit to Rs 147 crore for the quarter ended December 31, 2022, as compared to Rs 128 crore in the corresponding period of the previous fiscal. The company's revenue from operations also rose by 10 per cent to Rs 1,291 crore from Rs 1,174 crore in the year-ago period.
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India Cements to invest Rs 1,500 crore in new grinding unit in Telangana
India Cements Ltd is planning to invest Rs 1,500 crore in setting up a new grinding unit in Telangana. The proposed unit will have a capacity of 2.5 million tonnes per annum (MTPA) and is expected to be commissioned by 2025.
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India Cements to acquire majority stake in Springway Mining
India Cements Ltd has entered into an agreement to acquire a majority stake in Springway Mining Pvt Ltd, a company engaged in mining and supply of limestone and other minerals. The acquisition will help India Cements to secure its raw material supply and expand its operations in the southern region.
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India Cements to invest Rs 450 crore in capacity expansion
India Cements, one of India's leading cement manufacturers, is planning to invest Rs 450 crore in capacity expansion at its Sankaridrug plant in Tamil Nadu. The expansion will increase the plant's capacity from 3.5 million tonnes per annum (MTPA) to 4.5 MTPA.
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India Cements reports 12% growth in Q3 revenue
India Cements reported a 12% growth in revenue to Rs 3,151 crore in the third quarter of 2022-23, compared to Rs 2,813 crore in the same period last year. The company's net profit also rose by 16% to Rs 283 crore from Rs 244 crore.
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India Cements to acquire 100% stake in Springway Mining
India Cements announced that it will acquire a 100% stake in Springway Mining, a mining company that operates in Tamil Nadu. The acquisition will help India Cements secure a long-term supply of limestone, a key raw material for cement production.