Binani Cement Limited, the flagship company of Braj Binani Group, has registered net sales of Rs 42,904 Lakhs for first quarter ended 30 June, 2010.
The company’s power generation (net of captive consumption) has shown an increase of 97 % to 773 lakh KWH compared to 392 lakh KWH in the corresponding quarter last year.
Commenting on the Company’s performance in Q1FY11, Mr. Vinod Juneja, Managing Director, Braj Binani Group said, “Due to lackluster season this quarter and seasonal impact of monsoon has impacted sales growth. It was tough quarter this year in terms of profits which got affected mainly due to increase in international coal prices and increase in freight charges”.
The company has reported a profit before tax of Rs 5,273 Lakhs for the quarter ended June 2010, while for the same period its net profit stood at Rs 4,267 Lakhs. During the same period its EBIDTA stands at Rs 10,043 Lakhs.
“We are expecting to maintain the margins for the whole year as we are expecting to start the production of coal from Indonesia during the Q2 FY11. This will give us access to coal for captive use and is likely to reduce our dependence on outsourcing of coal”, added Mr. Vinod Juneja.
In addition the Shandong Binani Rong Cement plant in China (SBRCCL) is in the process of increasing its production capacity from 0.5 mtpa to 3.0 mtpa this expansion is expected to be completed by the end of 2011. Apart from this Binani Cement Factory LLC, Dubai has completed the expansion of its capacity of Cement Grinding which has increased from 1.2 MTPA to 2.00MTPA.
About Binani Cement:
The flagship subsidiary of BIL, the Braj Binani Group is Binani Cement Ltd with global gross fixed assets value of Rs 28077 million as on 31st March’10 and gross income of 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.
