Page 2 - Shree Cement

With infrastructure boom, cement companies build strategies to tap demand

Ready-mix concrete is another segment, which cement companies are expanding into to tap the infrastructure demand growth

CM Mamata Banerjee inaugrates Rs 550 cr grinding unit of Shree Cement

West Bengal Chief Minister Mamata Banerjee Monday inaugurated a Rs 550 crore maiden grinding unit of Shree Cement in West Bengal's Purulia district. The state-of-the-art facility has a production capacity of three million metric tonne per annum (MTPA) and is strategically positioned to meet the surging demand for cement in West Bengal and neighbouring Jharkhand and to bolster the company's market share in eastern India, which is among the country's fastest growing markets, a company official said. It is entirely funded through the group's internal accruals and has already commenced commerical production on schedule, the official said. "I congratulate Shree Cement Limited on this achievement and the commencement of production at the new facility. This substantial investment strengthens our state's industrial prowess and underscores the growth potential of West Bengal's cement sector. We look forward to witnessing the positive impact it will have on our region's economy and employmen

Will explore acquisition possibilities at the right price: Shree Cement V-C

The cement sector is seeing heightened activity with top players such as UltraTech, Ambuja-ACC, Dalmia, and JSW looking to increase their share

Shree Cement's West Bengal plant starts commercial production at Purulia

Shree Cement Ltd on Friday said it has commenced commercial production at its clinker grinding unit in Purulia district of West Bengal having an annual cement capacity of 3 million tonnes. The Kolkata-based company said this factory is its first one in the state which will help meet the growing demand for cement in West Bengal. Shree Cement operates about 10 integrated cement plants and 11 grinding units across India. The Purulia plant is expected to create direct and indirect employment opportunities for over 1,000 people. With this, the company's total cement capacity has risen to 49.90 MTPA. The company had announced the next phase of capacity expansion projects in various units will take the group's cement capacity to 72.4 million tonnes. Shree Cement will invest Rs 7,000 crore in the next phase of capacity augmentation, the company said. Meanwhile, the Ministry of Corporate Affairs (MCA) has recently ordered an inspection of Shree Cement after taking note of concerns raised

Shree Cement Q1 profit doubles to Rs 572.3 crore on a higher revenue

Shree Cement lines up Rs 7,000 cr capex push

Shree Cement to invest Rs 7,000 cr on capacity expansion projects

Bangur family promoted Shree Cement on Wednesday announced to invest Rs 7,000 crore for capacity expansion in the next phase of capacity augmentation. The board of Shree Cement in its meeting held on Wednesday approved "clinker & cement capacity expansion projects with a total capital expenditure of around Rs 7,000 crore", said regulatory updates by the company. Shree Cement, the third largest cement manufacturer, will invest in setting up a clinker capacity of 3.65 million tonnes in Pali, Rajasthan. Besides, it will also invest in a cement capacity of 6 million tonnes at Pali, Rajasthan and Etah, Uttar Pradesh. Similarly, it will also invest in two Karnataka-based units in Kodla and Bangalore. "We are also happy to announce our next phase of capacity expansion projects of 12 million tonnes that will take the group's cement capacity to 72.4 million tonnes, it said. According to the information available, Shree Cement is among India's top three cement producers, with an installed

Sensex snaps 3-day losing streak, ends 351 pts up; L&T, RIL, ITC shine

CLOSING BELL ON JULY 26, 2023: The NSE Nifty rallied 98 points to 19,778; IT and bank stocks gained ground, while M&M and Bajaj twins slipped on Wednesday.

Shree Cement to invest Rs 7,000 crore to add 12 million tonnes of capacity

The company has also decided to diversify into ready mix concrete business and will start setting up five RMC units in the country by the end of this financial year

Shree Cement exits the race to acquire Ahmedabad-based Sanghi Cement

Shree Cement has set target of reaching 80 million tonnes capacity by 2030. This would be achieved through brownfield and greenfield expansion

Shree Cement completes Rs 550-cr cement plant in Bengal's Purulia

Shree Cement on Friday said it has completed the Rs 550-crore greenfield cement plant in the Purulia district, Bengal. The company said this is its first production facility in Bengal and has begun trial production from Friday. With this plant, the total cement production capacity of the group has increased to around 50 mt per annum across 15 plants. The 3-million-tonne per annum plant set up at an investment of around Rs 550 crore was entirely funded through internal accruals. This new plant will serve the growing cement demand in fast-growing Bengal and Jharkhand markets, helping faster supplies to its customers, Neeraj Akhoury, the managing director, said. He also said the company is determined to reach over 80 mt capacity at an accelerated pace over the next few years.

Shares of Shree Cement decline nearly 6% amid tax survey reports

The development happened after some news reports alleged that the Kolkata-based cement manufacturer could have evaded taxes worth Rs 23,000 crore

Shree Cement plunges 10%; hits 5-month low amid ongoing Income Tax survey

Last week the Income Tax department initiated a survey action at five locations of the cement manufacturer.

Income tax dept raids five Shree Cement locations in Rajasthan: Report

The Kolkata-headquartered cement firm and IT department did not immediately respond to Reuters' requests for comment

More than skin-deep: Nifty Next 50 complexion to get a shade of difference

Removal of non-F&O stocks could lead to addition/subtraction of 11 stocks, triggering a Rs 5,000-crore churn

Shree Cement Q4 results: Consolidated net profit falls 15% to Rs 546 cr

The company's net revenue up QoQ by 18% from Rs 4,069 crore to Rs 4,785 crore

Cement stocks riding high on hopes of higher demand, capex push

Price wars led by increasing capacities and aggressive competition may mar prospects

Shree Cement to procure cow dung for green energy in Chhattisgarh

Shree Cement is the first company to purchase cow dung that the state government has been procuring under its scheme of the Godhan Nyay Yojana

Shree Cements posts 44% fall in Dec-quarter profit on high fuel costs

The Kolkata-based company posted a standalone profit of 2.77 billion Indian rupees ($33.5 million) for the quarter ended Dec. 31, compared with 4.92 billion rupees a year earlier

Shree Cement to raise funds by selling two-month commercial papers: Bankers

The company will offer a yield of 6.78% on this issue, and has received commitments worth around 1 billion rupees ($12.29 million), the bankers said

Dalmia-Jaypee deal: Battle for third spot in cement market intensifies

Shree Cement adding 9 mtpa of capacity in the next 15 months, HM Bangur says; total cement production capacity of company to jump to 56.4 mtpa...