Displaying items by tag: Saurashtra Cement

India: Pradeep Mehta has resigned as the chief financial officer (CFO) of Saurashtra Cement due to personal reasons. He previously worked as the CFO for Garware Hi-Tech Films and Arihant Superstructures from 2017 to 2024. Before this, he held managerial financial roles for companies including Essar Steel, Grassim Industry’s Birla White cement plant in Kharia Khangar, Jindal Steel and Power and Mabati Rolling Mills. He holds an undergraduate degree in mathematics from the University of Ajmer and is a registered chartered accountant with the Institute of Chartered Accountants of India.

India: Saurashtra Cement has appointed Pradeep Mehta as its chief financial officer (CFO). He will succeed Virendra Raj Mohnot in the post, who is retiring, with effect from 9 September 2024.

Mehta has worked in corporate finance roles for nearly 30 years most recently as the President-CFO of Garware High-Tech Films. He also worked as the CFO of Arihant Superstructures and has held finance positions with Mabati Rolling Mills, Jindal Steel and Power Global Ventures, Essar Steel, Jindal Power and Grasim industries. He holds an undergraduate degree in mathematics and is a registered chartered accountant.

India: Adani Group is exploring potential acquisitions of several cement companies including Penna Cement, Saurashtra Cement, the cement business of Jaiprakash Associates and Vadraj Cement owned by ABG Shipyard. The group plans to invest US$3bn in these acquisitions to potentially surpass its rival, UltraTech Cement, within three to four years.

The group is ready to offer an enterprise value of US$85-120/t for these businesses, focusing on those with expansion potential, limestone mines and packing terminals. These acquisitions are part of a strategic push to leverage the ongoing government-driven infrastructure boom, which is expected to increase demand significantly.

India: Saurashtra Cement and Gujarat Sidhee Cement have agreed to merge into a single entity. Their respective boards of directors approved the plans on 30 December 2021.

India: Three construction workers have died after scaffolding collapsed inside the chimney of Saurashtra Cement’s Porbandar cement plant in Gujarat. India Today Online News has reported that a team of ten builders was performing repair work before the accident occurred. Four of the seven survivors remain trapped. District officials have established contact with them via a drone.

India: Saurashtra Cement Ltd has announced that Anupama Pai, who was appointed as vice president (legal) and company secretary from 1 October 2014, has resigned with effect from 30 November 2014.