Dalmia Bharat jumped 3.68% to Rs 1,627.35 after the company said its subsidiary in West Bengal has commenced commercial production of Line II having a capacity of 2.25 million tons.
Dalmia Cement (Bharat), a wholly owned subsidiary of the company has commenced commercial production of Line II having a capacity of 2.25 million tons at its Bengal Cement Works (BCW) unit in West Midnapore in the state of West Bengal. This addition will increase the overall capacity of the BCW unit to 4 million tons per annum.Meanwhile, Dalmia Cement (Bharat) (DCBL), a wholly-owned subsidiary of Dalmia Bharat (DBL), Dalmia DSP (Dalmia DSP), Murli Industries, Ascension Mercantile and Ascension Multiventures, wholly owned subsidiaries of DCBL (i.e., step-down subsidiaries of the company), at their respective meeting of board of directors held on 23 March 2021 have considered and approved the scheme of amalgamation of Dalmia DSP with DCBL.
Further, the board has also allowed the composite scheme of arrangement and amalgamation for demerger of paper and solvent extraction undertakings of Murli Industries to Ascension Mercantile and Ascension Multiventures, respectively, followed by amalgamation of Murli Industries with the company.
In a separate announcement, the company said that its board on Tuesday, 23 March 2021, appointed Dharmender Tuteja as chief financial officer (CFO) and key managerial personnel of the company with effect from 23 March 2021.
On a consolidated basis, Dalmia Bharat reported a net profit of Rs 183 crore in Q3 FY21, up 603.80% as against a net profit of Rs 26 crore in Q3 FY20. Net sales during the quarter increased 18.2% year-on-year (Y-o-Y) to Rs 2,857 crore.
Dalmia Bharat is a cement manufacturing company. Its segments include cement, refractory and power.
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