 "India Cements gets nod for merger")
India Cements Ltd (ICL) has got its board’s approval for the proposed amalgamation of Trinetra Cement Ltd (TCL) and Trishul Concrete Products Ltd with ICL. TCL is a listed company in which ICL holds 61.22 per cent stake through its subsidiary ICL Financial Services Ltd. The company has a 1.5 million tonnes capacity cement plant and a captive power plant with 20 Mw located in Rajasthan.
TCL reported a turnover of Rs 443 crore and Ebidta of Rs 84.33 crore as on March 31, 2013. Trishul Concrete Products is an unlisted company in which ICL holds 88.4%. The company has capacity to manufacture 1.2 mn cubic metres of ready mix concrete, marketed under the brand Coromandel Concrete.
The company has eight plants located in Chennai, Bangalore, Coimbatore and Hyderabad. It posted a turnover of Rs 120 crore. External debt on the books of TCL and Trishul Concrete as on March 31, 2013 stood at Rs 283 crore.
TCL reported a turnover of Rs 443 crore and Ebidta of Rs 84.33 crore as on March 31, 2013. Trishul Concrete Products is an unlisted company in which ICL holds 88.4%. The company has capacity to manufacture 1.2 mn cubic metres of ready mix concrete, marketed under the brand Coromandel Concrete.
The company has eight plants located in Chennai, Bangalore, Coimbatore and Hyderabad. It posted a turnover of Rs 120 crore. External debt on the books of TCL and Trishul Concrete as on March 31, 2013 stood at Rs 283 crore.