Shree Cement gains on plans to resume operations

Shree Cement advanced 3.68% to Rs 18,824.45 after the company said it is seeking necessary approvals from the government to resume its production at various locations.

Shree Cement on Wednesday (15 April) said it is seeking necessary permissions from the relevant government authorities for resumption of production facilities at its various locations. The company will resume operations at different production facilities in full compliance to the conditions of operation as may be stipulated in the said permissions.

The company said it has put in place requisite safety measure for employees, workers etc. at its plant locations in line with the guidelines already issued by governments to prevent spread of COVID-19. It shall comply with all the guidelines which may be issued by the government from time to time.

On 1 April 2020, Shree Cement had announced shutting down all its production facilities and offices till 14 April 2020 due to the nationwide lockdown.

On a consolidated basis, the company's net profit fell 5.18% to Rs 309.63 crore on a 0.20% increase in net sales to Rs 3,146.01 crore in Q3 December 2019 over Q3 December 2018.

Shree Cement is primarily an Indian cement manufacturer. It also produces and sells power under the name Shree Power and Shree Mega Power.

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