Kesoram

Kesoram's cement business demerger may be completed by December 2024

The cement business accounted for the bulk of Kesoram's revenue from operations. According to the FY24 annual report, revenue from cement was Rs 3,736.10 crore

Manjushree Khaitan, 69-year-old Kesoram Industries chair, passes away

The tyre business was demerged some years back and acquired by Himadri Speciality Chemical and Dalmia Bharat Refractories under a corporate insolvency resolution

Kesoram Q4 results: Net loss widens to Rs 244 crore, sales marginally up

B K Birla Group company Kesoram Industries Ltd posted a consolidated net loss of Rs 244.42 crore for the quarter ended March 2024, despite higher sales. The cement maker's net loss in the fourth quarter of the 2023-24 fiscal (FY'24) has widened from Rs 48.86 crore in the corresponding quarter of the previous year. Consolidated sales during the quarter under review stood at Rs 1,073 crore as against Rs 960 crore registered in Q4 FY'23, the company said in a regulatory filing. The net loss in 2023-24 nearly doubled to Rs 384 crore as compared to the Rs 194 crore loss posted in the previous year. Cement accounts for almost 94 per cent of its total revenue, while the rest comes from segments like rayon, transparent paper, and chemicals. Company officials attributed the loss in the January-March quarter to higher costs and the repayment of its high-cost NCDs of Rs 1,683 crore as part of swapping its debt. Kesoram Industries has decided to sell its cement business to UltraTech Cement f

UltraTech eyeing Volume expansion in south, unlikely to disturb prices

Deal with Kesoram Industries likely to add 10.75 million tonnes capacity under UltraTech Cement's fold

UltraTech Cement to buy Kesoram's cement business in $645 million deal

As a part of the deal, UltraTech will issue one share for every 52 shares of Kesoram and give UltraTech ownership of two integrated cement units in states of Karnataka and Telangana

Kesoram plans to infuse fresh capital of Rs 60 crore for Cygnet turnaround

Kesoram Industries Ltd is planning to infuse fresh capital of Rs 60 crore for the turnaround of Cygnet Industries Ltd, its wholly owned subsidiary, to transform it into a leading global supplier of cellulose transparent paper, a senior company official said on Thursday. The Manjushree Khaitan-led company is the only one in south Asia that manufactures non-toxic, biodegradable cellulose transparent paper, also known as cellophane paper, used to wrap food and protect it. There is growing demand for cellulose transparent paper in developed economies of the world as well as in the country. The strategic investment will allow Cygnet to improve its manufacturing capability, widen its product portfolio and achieve better quality standards, he said. "We are in discussions to bring in strategic investors, including with our technical partner Futamura, who can add value. Given the rise in demand, there is a shortage in the global supply of transparent paper and India can be a major supplier,

Kesoram Industries to raise high-cost funds via FDs; to offer 12.25% rate

To offer 12.25% rate; plans to use proceeds for working capital, pare debt

Profit from cement biz helps Kesoram bring down losses to Rs 10 cr

Loss from Kesoram Industries' tyre business widened to Rs 22.61 crore

Kesoram eyes tie-up with global tyre firm, plans to hive off business

While Kesoram is eyeing a partnership for the tyre business, it is also working on scaling up the business

Cavendish sale helps Kesoram post profit in Q1

The company's balance sheet adjusted Rs 94.70 cr as an exceptional item due to the Cavendish deal