Binani Cement Limited, a key leader in Indian Cement Industry, announced its unaudited results for the quarter ended September 2010.
For the quarter ended September 30, 2010, the company reported a Profit After Tax (PAT) of Rs 118 Lakhs. The Profit After Tax (PAT) for the half year ended September 30, 2010, stood at Rs 4,385 Lakhs.
The scenario is mainly because of a drop in expected demand due to early on-set and longer period monsoons, which led to lower realizations in the industry as a whole. This has been further compounded by a large increase in fuel prices (coal) when compared to previous periods. With the cessation of monsoons, there are clear indications that the demand is reviving with increase in prices and therefore future performance is expected to improve substantially.
About Binani Cement:
The flagship subsidiary of BIL, the Braj Binani Group is Binani Cement Ltd with global gross fixed assets value of US $ 597 million (Indian Rs 28077 million) as on 31st March’10 and gross income of US $ 534 million (Indian Rs 25087 million) for the year ended 31st March ‘10 and cement manufacturing capacity of 8.5MTPA, with subsidiaries in Dubai and China The company’s product portfolio includes Ordinary Portland Cement, Pozzolona Portland Cement and Ground Granulated Blast furnace Slag (GGBFS in Dubai). The products are marketed under the premium “Binani Cement” brand name and enjoy significant market share in Rajasthan and other regions in northern and western India, sharing top-notch status with many of the nation’s leading cement brands. The company is certified as ISO 9001, ISO 14001 and OHSAS 18001 compliant within a short span of commencement, an achievement that clearly illustrates the management's commitment to quality, efficiency, and the environment.