ACC rose 1.14% to Rs 2179.25 after the company announced the commissioning of 1.6 MTPA grinding unit (GU) at Tikaria in the State of Uttar Pradesh.
The additional capacity will add 1.6 MTPA of cement to the existing capacity of 2.31 MTPA, taking the total capacity at Tikaria GU at 3.91 MTPA. The new facility will manufacture environment friendly cement products with low carbon emission.
Sridhar Balakrishnan, MD & CEO, ACC, said, ACC's strong belief and resilience in these difficult times enabled the team to commission the additional capacity at Tikaria GU. Meticulous planning and collaborative approach of the Tikaria team has been the driving force in setting new benchmark by ACC in these unprecedented times.
With cement demand projected to increase in India, development capex projects are being kick-started to increase clinker and cement capacities across the country. As announced earlier, the Company is progressing well to increase its capacity, i.e., 2.7 MT of clinker and 4.8 MTPA of cement by 2024.
ACC, a member of the Holcim Group, is one of India's leading producers of cement and ready mix concrete.
The cement makers's consolidated net profit slumped 40.6% to Rs 280.85 crore on a 1.8% increase in net sales to Rs 4,137.42 crore in Q4 December 2021 over Q4 December 2020.
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