Displaying items by tag: Sagar Cements

India: Dalmia Cement (Bharat) and Sagar Cements have submitted acquisition offers to Andhra Cements' administrator and committee of creditors. The Business Standard newspaper reported that the company owes its lenders total debts of US$118m and is valued at between US$42.5m and US$48.6m.

India: Sagar Cement has appointed KV Vishnu Raju as its chair. He succeeds K Thanu Pillai in the post.

Vishnu Raju is a graduate in Chemical Engineering from the National Institute of Technology in Tiruchirapalli and he holds a master's degree in Chemical Engineering from the Michigan Technological University in the US. He worked as an executive director and then managing director of Raasi Cements in the 1990s. He was later on the board of Anjani Portland Cement as its chair and managing director from 1999 to 2014.

Sagar Cement operates three integrated plants and two grinding plants in Andhra Pradesh, Madhya Pradesh, Orissa and Pradesh Telangana.

India: The Confederation of Indian Industry has certified Sagar Cements’ Bayyavaram grinding plant as an Excellent Energy Efficient Unit with an award at the Energy Management Excellence Awards 2022. The facility was also among recipients of the confederation’s GreenCo Star Performer Awards 2022.

India: Sagar Cement’s net sales were US$69.8m in the first quarter of the 2023 Indian financial year, up by 42% year-on-year from US$49.1m in the first quarter of the 2022 financial year. The quarter, which ended on 30 June 2022, saw an 82% year-on-year increase in costs to US$72.7m from US$40.1m. As a result, the company recorded a net loss for the quarter of US$1.64m, compared to a net profit of US$6.08m in the first quarter of the 2022 financial year.

India: Sagar Cements has received board approval for the preferential allotment of a 10% stake of equity shares to Premji Invest. ET Now News has reported the value of the deal as US$46m.

Joint Managing Director Sreekanth Reddy Sammidi said “We are delighted to partner with Premji Invest and look forward to their inputs towards strengthening our processes and systems and enhancing value for all our stakeholders.”

India: Sagar Cements has announced the commissioning of its 1.5Mt/yr Jajpur grinding plant in Odisha. The plant commenced operations in early January 2022, slightly behind its scheduled December 2021 commissioning date. Jajpur Cements received clearance for the plant in September 2020 and invested US$41m in its construction.

India: Sagar Cements says that its subsidiary Jajpur Cements is on track to commission its new 1.5Mt/yr Jajpur grinding plant in Odisha in December 2021. The Hindu BusinessLine newspaper has reported that the company invested US$41m in the plant’s construction. Sagar Cements acquired Jajpur Cements in May 2019 for US$16m. It had previously aimed to complete the new grinding plant’s construction by March 2021.

In October 2021, another Sagar Cements subsidiary, Satguru Cement, commissioned its new US$80.6m 1Mt/yr Indore integrated cement plant in Madhya Pradesh. The completion of both projects will bring Sagar Cements’ total installed capacity to 8.25Mt/yr. the company said that the new facilities will help in its rationalisation of freight expenses and help it to diversify its sales outside of existing markets.

India: The board of directors of Sagar Cements is considering merging its wholly-owned subsidiary Sagar Cement (R) (SCR) into the company. A meeting has been scheduled for the company’s board of directors to consider the matter in late April 2021. SCRL, formerly BMM Cements, operates the 1.0Mt/yr Yadiki Mandalam cement plant in Anantapur district, Andhra Pradesh.

India: The Odisha State Level Single Window Clearance Authority (SLSWCA) has approved two cement and slag grinding plant projects in Odisha. It has granted JSW Cement permission for an upgrade to its upcoming 1.2Mt/yr Kalinga Nagar, Odisha slag cement grinding plant that will increase the finished plant’s capacity to 2.4Mt/yr at an additional investment cost of US$359,000. JSW Cement restarted work on the facility, which will grind Ordinary Portland Cement (OPC) and granulated blast furnace slag (GGBS), in September 2018 after suspending the project due to leasing issues in 2016.

Sagar Cements subsidiary Jajpur Cements has also received clearance from the SLSWCA for the construction of a 1.5Mt/yr grinding plant on the site of the existing 0.5Mt/yr Jajpur Cements grinding plant in the Kalinga Nagar Industrial Complex in Jajpur District, Odisha. The project, valued by the company at US$44m, is scheduled for completion in March 2021. Sagar Cements acquired Jajpur Cements on 7 May 2019 for US$16m.

India: Sagar Cement’s consolidated production volumes at its integrated 2.4Mt/yr Mattampally, Telangana, and 1.0Mt/yr Tadipatri, Andhra Pradesh, plants in January 2020 were 317,000t, up by 4.7% year-on-year from 303,000t in January 2019. Accord Fintech News has reported that consolidated sales in the period fell by 1.6% year-on-year to 315,000t from 320,000t in January 2019.

On 29 January 2020 the Indian Ministry of Environment, Forest and Climate Change granted environmental clearance to Sagar Cements for and upgrade to all three dry lines of its 2.4Mt/yr Mattampally plant to raise its capacity to 5.0Mt/yr. Its clinker capacity will rise from 2.0Mt/yr to 4.8Mt/yr. The expansion also includes a 36MW coal-fired power plant and a 22MW waste heat recovery (WHR) power plant.