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Shree Cement

Shree Cement ties up with DPIIT to support startups in manufacturing sector

Shree Cement Ltd on Tuesday said it has signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade (DPIIT) to support startups in the manufacturing sector and drive innovation. Through this partnership, Shree Cement aims to support product startups by offering infrastructure, mentorship, access to funding, and market connections, guiding them from prototype development to potential international expansion, the company said in a statement. "Our partnership with DPIIT reinforces our commitment to fostering innovation in the manufacturing sector. We believe this partnership will play an important role in promoting self-reliance through domestic manufacturing and import substitution," Shree Cement Managing Director Neeraj Akhoury said. DPIIT Director Sumeet Jarangal said, "This partnership between Shree Cement and DPIIT will lay the foundation for a brighter future for early stage manufacturing startups and is a strong step in making Indi

Shree Cement ties up with DPIIT to support startups in manufacturing sector
Updated On : 01 Oct 2024 | 9:01 PM IST

Shree Cement extends fall; stock down 13% in 6 days post weak Q1 results

Management indicated that cement demand would remain weak until calendar year 2024-end and expects a full recovery from Q4FY25, brokerage firm MOFSL said.

Shree Cement extends fall; stock down 13% in 6 days post weak Q1 results
Updated On : 08 Aug 2024 | 10:42 AM IST

Shree Cement Q1FY25 results: Net profit down 51.3% at Rs 278.45 cr

Bangur family promoted Shree Cement Ltd on Tuesday reported a decline of 51.31 per cent in its consolidated net profit to Rs 278.45 crore for the first quarter ended June 2024. The company had posted a net profit of Rs 571.94 crore in the April-June period a year ago, according to a regulatory filing from Shree Cement Ltd (SCL). However, its revenue from operations was up 1.73 per cent to Rs 5,123.96 crore during the quarter under review, as against Rs 5,036.65 crore in the corresponding period of the preceding fiscal. Total expenses of SCL increased 10.05 per cent to Rs 4,957.24 crore in the June quarter. SCL's total income rose 1.12 per cent to Rs 5,263.09 crore in the June quarter. Shree Cement is the third largest cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong. Shares of Shree Cement Ltd on Tuesday were trading at Rs 519.60 apiece on BSE, up 1.82 per cent from the previous close.

Shree Cement Q1FY25 results: Net profit down 51.3% at Rs 278.45 cr
Updated On : 06 Aug 2024 | 9:00 PM IST

Shree Cement's installed renewable power capacity touches 1 GW across India

India's third largest cement manufacturer Shree Cement on Monday announced achieving installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit. "The one GW (Gigawatt) capacity includes a mix of solar, wind, thermal and waste heat recovery power plants, showcasing Shree Cement's diversified approach to meeting the electricity demand for cement production," the Bangur family-promoted firm said in a statement. The company has made an investment of Rs 4,000 crore to expand the renewable portfolio, which now accounts for nearly half of the installed power capacity. "Looking ahead, an estimated capex of Rs 1,000 crore is planned in FY25 for installation of additional renewable energy capacity," it said. This includes the installation of 132 MW of solar capacity in five states - Jharkhand, Haryana, Rajasthan, Uttar Pradesh and Uttarakhand, 36 MW of wind generation in Rajasthan and 34 MW of waste heat recovery capacity in Karnatak

Shree Cement's installed renewable power capacity touches 1 GW across India
Updated On : 24 Jun 2024 | 8:07 PM IST

Bharti Airtel, Cipla, Paytm, Colgate among seven stocks to track on May 15

At 6:55 AM, GIFT Nifty futures was trading 73 points higher at 22,382.50 levels compared to Nifty50 futures, indicating a positive start for the bourses

Bharti Airtel, Cipla, Paytm, Colgate among seven stocks to track on May 15
Updated On : 15 May 2024 | 7:28 AM IST

Shree Cement enters ready mix concrete segment with 1st greenfield project

Shree Cement, one of the top three players in the segment, on Friday announced entry into the ready mix concrete (RMC) segment with the commissioning of its first greenfield in Hyderabad. The new RMC plant has a capacity of 90 cubic metres per hour and would help the Bangur family-promoted firm to emerge as a multi-product player in the cement business, as per a company statement. "As part of this strategy, Shree Cements had acquired five operational plants of StarCrete LLP in Mumbai earlier this month for a consideration of Rs 33.5 crore. The company's combined RMC capacity now stands at 512 cubic metres per hour," it said. Shree Cement Managing Director Neeraj Akhoury said the venture into the RMC segment marks Shree Cement's entry into a new line of business. "We recognise the vast potential of RMC business, which is being driven by India's growth momentum, the concerted efforts of both central and state governments to advance infrastructure projects and an uptick in the housing

Shree Cement enters ready mix concrete segment with 1st greenfield project
Updated On : 22 Mar 2024 | 8:57 PM IST

NTPC, Gail: How to trade these 5 stocks that turned ex-dividend this week?

As many as 49 stocks turned ex-dividend on the bourses this week. Here's a quick chart check on select five among them.

NTPC, Gail: How to trade these 5 stocks that turned ex-dividend this week?
Updated On : 09 Feb 2024 | 12:38 PM IST

Shah Rukh Khan vs Sunny Deol in the battle for India's cement demand

Celebrities become the face of an industry evolving with rising demand and changing consumer patterns

Shah Rukh Khan vs Sunny Deol in the battle for India's cement demand
Updated On : 07 Feb 2024 | 10:49 PM IST

I-T Dept issues final notice to Shree Cement over Rs 4,000 cr tax liability

The Income Tax Department has claimed a demand of Rs 4,000 crore against cement manufacturer Shree Cement for tax evasion

I-T Dept issues final notice to Shree Cement over Rs 4,000 cr tax liability
Updated On : 05 Feb 2024 | 2:37 PM IST

Shree Cement Q3 resuls: Net profit rises two-fold to Rs 701.85 crore

Bangur family-promoted Shree Cement Ltd on Wednesday reported an over two-fold jump in its consolidated net profit to Rs 701.85 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 281.83 crore in the October-December period a year ago, according to a regulatory filing. Its revenue from operations grew 21.5 per cent to Rs 5,223.18 crore during the quarter under review. It was at Rs 4,299.26 crore in the corresponding period of the preceding fiscal. In the December quarter, it had a "strong & all-round performance led by improved realisation & cost reduction amidst robust demand growth," the company said in a quarterly earnings statement. The total sale volume of Shree Cement Ltd (SCL) increased Year-on-Year (YoY) by 11 per cent from 8.03 million tonnes to 8.89 million tonnes. Its capacity utilisation improved from 72 per cent to 77 per cent on YoY basis. Total expenses of SCL grew 9.12 per cent to Rs 4,458.01 crore in the December ...

Shree Cement Q3 resuls: Net profit rises two-fold to Rs 701.85 crore
Updated On : 31 Jan 2024 | 6:19 PM IST

Shree Cement commissions high capacity kiln for Rs 3,500 cr Rajasthan plant

Shree Cement Limited on Thursday announced the commissioning of a kiln at its new integrated production facility in Nawalgarh, Rajasthan, with a rated capacity of 11,500 tonnes per day. This kiln stands among one of the highest capacity units in the world, and is empowered by cutting-edge technology, allowing utilisation of alternative fuels and ensuring optimal energy efficiency, the company said. The Rs 3,500 crore new cement plant has an annual production capacity of 3.5 million tonnes of cement annually. The plant also features a 33 MW waste heat recovery-based power plant, contributing to electricity generation without relying on fossil fuels. This innovative approach utilises waste gases from the clinkerisation process, aligning with the company's dedication to environmental responsibility. "In our pursuit to become an 80 million tonnes company by the year 2028, we are thrilled to announce the commissioning of the kiln at our new integrated facility in Nawalgarh, Rajasthan. T

Shree Cement commissions high capacity kiln for Rs 3,500 cr Rajasthan plant
Updated On : 14 Dec 2023 | 7:54 PM IST

Shree Cement plans to bid for lithium mining rights in Jammu-Kashmir

Shree Cement, India's second biggest cement company by market capitalisation, will also bid for blocks in the eastern state of Chhattisgarh, said a source

Shree Cement plans to bid for lithium mining rights in Jammu-Kashmir
Updated On : 06 Dec 2023 | 5:42 PM IST

Shree Cement beats profit view in Jul-Sep quarter on strong infra demand

According to a Jefferies' pre-earning note, cement prices during the quarter increased ~0.5-1% at the all-India level, with the rates rising the most in the country's eastern region

Shree Cement beats profit view in Jul-Sep quarter on strong infra demand
Updated On : 07 Nov 2023 | 7:40 PM IST

Can you invest in high-value stocks without burning a hole in your pocket?

Fractional share ownership enables retail investors to purchase a portion of a company's stock with predetermined budgeted amounts.

Can you invest in high-value stocks without burning a hole in your pocket?
Updated On : 03 Oct 2023 | 11:36 AM IST

Shree Cement to raise up to Rs 700 cr via NCDs on private placement basis

The fundraising plan is expected to be part of the company's Rs 7,000-crore capex plan in the next phase of growth, during which it aims to add an additional 12 million tonnes of capacity

Shree Cement to raise up to Rs 700 cr via NCDs on private placement basis
Updated On : 25 Sep 2023 | 10:41 AM IST

Shree Cement to issue NCDs worth Rs 700 cr on pvt placement basis

Leading cement company Shree Cement said on Tuesday that it is planning to issue Non-Convertible Debentures (NCDs) worth Rs 700 crore on a private placement basis. The company's board of directors will consider approving the issuance of NCDs on September 25. The fundraising plan is expected to be part of the company's Rs 7,000-crore capex plan in the next phase of growth, during which it aims to add additional 12 million tonne of capacity. The company has said it is planning to expand in Rajasthan and Maharashtra. Recently, the company announced commercial production at Purulia in West Bengal with a three million-tonne capacity clinker cement plant at a cost of Rs 600 crore. The company aims to cross 50 million tonne per annum capacity by 2025 and over 70 million tonne in the next few years. The current installed capacity is around 45 million tonne per annum.

Shree Cement to issue NCDs worth Rs 700 cr on pvt placement basis
Updated On : 19 Sep 2023 | 9:19 PM IST

With infrastructure boom, cement companies build strategies to tap demand

Ready-mix concrete is another segment, which cement companies are expanding into to tap the infrastructure demand growth

With infrastructure boom, cement companies build strategies to tap demand
Updated On : 04 Sep 2023 | 10:56 PM IST

CM Mamata Banerjee inaugrates Rs 550 cr grinding unit of Shree Cement

West Bengal Chief Minister Mamata Banerjee Monday inaugurated a Rs 550 crore maiden grinding unit of Shree Cement in West Bengal's Purulia district. The state-of-the-art facility has a production capacity of three million metric tonne per annum (MTPA) and is strategically positioned to meet the surging demand for cement in West Bengal and neighbouring Jharkhand and to bolster the company's market share in eastern India, which is among the country's fastest growing markets, a company official said. It is entirely funded through the group's internal accruals and has already commenced commerical production on schedule, the official said. "I congratulate Shree Cement Limited on this achievement and the commencement of production at the new facility. This substantial investment strengthens our state's industrial prowess and underscores the growth potential of West Bengal's cement sector. We look forward to witnessing the positive impact it will have on our region's economy and employmen

CM Mamata Banerjee inaugrates Rs 550 cr grinding unit of Shree Cement
Updated On : 04 Sep 2023 | 8:12 PM IST

Will explore acquisition possibilities at the right price: Shree Cement V-C

The cement sector is seeing heightened activity with top players such as UltraTech, Ambuja-ACC, Dalmia, and JSW looking to increase their share

Will explore acquisition possibilities at the right price: Shree Cement V-C
Updated On : 04 Sep 2023 | 7:32 PM IST

Shree Cement's West Bengal plant starts commercial production at Purulia

Shree Cement Ltd on Friday said it has commenced commercial production at its clinker grinding unit in Purulia district of West Bengal having an annual cement capacity of 3 million tonnes. The Kolkata-based company said this factory is its first one in the state which will help meet the growing demand for cement in West Bengal. Shree Cement operates about 10 integrated cement plants and 11 grinding units across India. The Purulia plant is expected to create direct and indirect employment opportunities for over 1,000 people. With this, the company's total cement capacity has risen to 49.90 MTPA. The company had announced the next phase of capacity expansion projects in various units will take the group's cement capacity to 72.4 million tonnes. Shree Cement will invest Rs 7,000 crore in the next phase of capacity augmentation, the company said. Meanwhile, the Ministry of Corporate Affairs (MCA) has recently ordered an inspection of Shree Cement after taking note of concerns raised

Shree Cement's West Bengal plant starts commercial production at Purulia
Updated On : 28 Jul 2023 | 11:04 PM IST