Displaying items by tag: Shree Cement

India: Shree Cement plans to increase its cement production capacity to 20Mt/yr by 2015, up from 13.5Mt/yr in 2013.

Shree Cements will construct an integrated cement plant in Chhattisgarh for US$282m, a grinding plant in Bihar for US$82.9m and is increasing the cement production capacity at its plant in Rajasthan.

"The Chhattisgarh plant could be commissioned by April 2015, while the Bihar unit could be in operation as soon as May 2014. We are also on the verge of completing the expansion at Rajasthan," said H M Bangur, managing director of Shree Cement.

India: Dalmia Bharat has appointed Mahendra Singhi as Group CEO for Cement. Singhi previously worked for Shree Cement as the Executive Director.

Currently, Singhi is the co-chair of the Cement Sustainability Initiative in India. He is also on the Board of Governors of the National Council for Cement & Building Materials (NCB), besides being a member of the Central Expert Technical Committee on the Cement Sector on PAT (Perform, Achieve and Trade) scheme of the Bureau of Energy Efficiency. Other positions held include tenure as president of the Rajasthan Cement Manufacturers Association and executive committee member of TERI BCSD. He was also leader of the Indian Cement Sector Task Force for Energy Conservation, constituted by the Bureau of Energy Efficiency, at the central ministry of power.

India: Shree Cement Ltd announced on 25 November 2013 that Shri Mahendra Singhi, Executive Director of the Company, had resigned with effect from 6 December 2013. No further details were made provided.

India: Gangotri Cement has appointed Rajendra K Shah as an additional Independent Director with effect from 25 November 2013. Shah has also been appointed as a member of the Audit Committee and Shareholders' Grievances Committee of the Board of Directors of the Company. Gangotri Cement said that Ravi Kamra had resigned as a Director due to personal and professional commitments.

India: Shree Cement reported a 24.5% dip in net profit for the July - September quarter at US$28m. The company, which has 13.5Mt/yr cement production capacity and 560MW/yr power generation capacity, had produced US$37m net profit in the same quarter last fiscal year. Total income of the company during the quarter fell to US$203m from US$211m in 2012. Revenue from both cement and power businesses of the company dropped during the quarter.

Expenses during the period went up to US$181m from US$163m in the July - September quarter of 2012 due to higher freight and other expenses. Freight costs of the company went up to US$41m for the quarter from US$35m in the year-ago period. Other expenses during the period went up to US$40m from US$33m.

India: Suman Mukherjee, CEO and Managing Director of Shree Digvijay Cement Company, has resigned from the cement producer due to personal reasons. His resignation takes effect from 31 October 2013. He will also leave the board of directors at this time.

Nepal: The Nepal Bureau of Standards & Metrology (NBSM) has closed two cement plants, Butwal Cement Mills and Shubha Shree Jagadamba, for manufacturing and selling substandard products. It has also threatened to remove 16 other cement plants from the market for not acquiring the Nepal Standard (NS) mark.

"We initiated action against these factories after their products failed to meet the standard," said NBSM Director General Ram Aadhar Sah. The NBSM standard requires that cement should have a strength of 16MPa within three days of setting, 22MPa within seven days and 33MPa within 28 days. Products from Butwal Cement Mills and Shubha Shree Jagadamba were found to have strengths below these levels.

The 16 factories facing the threat of a ban include CG Cement, Rolpa Cement, Arniko Cement, Ghorahi Cement, MJP Cement, Maruti Cement, Kailash Cement, Star Cement, Krishna Cement, KP Cement, Shree Cement, Om Cement, Eastern Cosmos Cement, International Cement and others.

India: Shree Cement started clinker production at its Bangur City, Ras unit in Pali District in state of Rajasthan on 20 June 2013. The plant has a production capacity of 6000t/day. Shree Cement has eight cement plants in Rajasthan and one grinding unit in Uttrakhand, with a production capacity of 9Mt/yr.

India: Shree Cements' net profit rose by 140% to US$51m for the quarter ending 31 March 2013, from US$21.3m in the same period in 2012. Its revenue rose by 7% to US$274m from US$256m. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 9% to US$75.4m from US$69.4m.

India: UltraTech Cement, one of India's largest cement producers, made 3.33Mt of cement in February 2013. Its cement dispatches stood at 3.31Mt for the same month.

Meanwhile, Shree Cement has reported that its production stood at 98,300t for the month, while its cement dispatches stood at 96,700t. Sales were down 16% year-on-year compared to February 2012.

Elsewhere, JK Lakshmi Cement has reported that its production (including clinker) for the month of February 2013 was 44,700t, while dispatches (including clinker) for the same period stood at 44,600t.

In the north, Mangalam Cement cement production of 153,793t during February 2013, while its cement dispatch stood at 163,034t.