Consolidated cement sales declined 32.48% to 227,094 MT in March 2020 compared with 336,341 MT in March 2019.
Consolidated cement production tumbled 28% to 252,747 MT in March 2020 as against 351,004 MT in March 2019.On a standalone basis, production of cement slumped 29.27% to 182,756 MT year-on-year in March 2020. Cement sales declined 31.76% to 166,956 MT in March 2020 as against 244,662 MT posted in March 2019.
On 23 March 2020, the company informed that it suspended operations at its plants in Telangana and Andhra Pradesh till further notice due to the COVID-19 outbreak. It added that the resumption of operation will depend upon future development and directions from the governments concerned in the matter.
Shares of Sagar Cements rose 0.35% to Rs 290.30 on Thursday. The stock has declined 27.66% in last one month as compared to a 12.56% fall in benchmark BSE Sensex.
Sagar Cements is engaged in manufacturing clinker and ordinary portland cement (OPC).
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