Shree Cement jumped 3.65% to Rs 23,622 after the company announced that it has commenced trial run of its new Clinkerisation unit (Kiln-3) at Baloda Bazar, near Raipur in Chhattisgarh.
This clinkerisation unit shall augment company's clinker supply to its various grinding units in Eastern region. The company has also set up Waste Heat Recovery Power unit alongside the kiln, which will produce green power and help meet company's power requirement.
This brownfield investment in Kiln-3 at Raipur (Chhatisgarh) will generate employment and revenue generation opportunities and contribute to the overall growth and development of the State. Company has funded the entire investment from its internal accruals.
Shree Cement reported a 23.6% fall in consolidated net profit to Rs 482.70 crore in Q3 FY22 from Rs 631.58 crore posted in Q3 FY21. Net sales grew 2.2% to Rs 3,637.11 crore in Q3 FY22 over Q3 FY21.
Shree Cement is one of India's top three cement producers. Its portfolio of products includes Shree Jung Rodhak Cement, Bangur Cement, Roofon and Rockstrong Cement. It also has an installed power generation capacity of 752 megawatts which includes waste heat recovery power, solar power, wind power along with others.
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