Displaying items by tag: Birla

India: Birla Corporation has appointed Arvind Pathak as its managing director and chief executive director (CEO). He will succeed Pracheta Majumdar from 31 March 2021.
Pathak holds 36 years of experience in the cement industry. He has held CEO or equivalent positions for over 14 years in various large organisations which include ACC, Dangote Cement, Adani and Reliance Group. He holds a degree in Electrical Engineering from Indian Institute of Technology (Banaras Hindu University), Varanasi and a postgraduate degree in Industrial Engineering and Management. He has also been trained in a number of international management institutions.

India: Birla Corporation recorded a net profit of US$52.2m in the nine-month period which ended on 31 December 2020, up by 23% year-on-year from US$42.6m in the corresponding period of 2019. Sales fell by 10% to US$650m from US$724m, while earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 2% to US$141m from US$144m.

India: Birla Corporation plans to raise US$20m through redeemable non-convertible debentures (NCD). It has allotted 1500 NCDs with a value of around US$13,500 on a private placement basis. The producer announced plans in August 2020 for an upgrade to its Durgapur grinding plant in West Bengal.

India: A public hearing over Birla Corporation subsidiary Reliance Cement’s planned 3.9Mt/yr Mukutban cement plant in Yavatmal district, Maharashtra has raised objections against the company’s quarry plans. The Times of India newspaper has reported that the plant is due to source its limestone from a 7.6km² quarry in Korpana, Chandrapur district. Critics say that the company has failed to complete a wildlife management plan, and that the site of the mine lies on a 120km wildlife corridor between the Tipeshwar Wildlife Sanctuary and the Kawal Wildlife Sanctuary in neighbouring Telangana. Reliance Cement said that an environmental report had shown the presence of no scheduled species within 10km of the proposed site.

Maharashtra state wildlife board member and honorary wildlife warden Bandu Dhore said, “Although there is no forest area under the proposed mining site, it acts as a regular corridor as there is forest on either side within 1km. We are pursuing the matter with the forest department and would press it with higher officials to ensure that the precious corridor remains undisturbed. Protection of corridors is a must for conservation of wildlife and hence we are going to raise the demand of re-survey of the project site from the wildlife point of view.”

India: Birla Corporation has launched a promotional video entitled ‘Never Will I Ever’ that celebrates the idea of home as somewhere with room for everyone. The video, launched to coincide with Independence Day, consists of inspiring coronavirus lockdown stories. Marketing vice president Suvadip Ghosh Mazumdar said, “Construction is not only about brick and mortar. In the last few months, we have seen many occasions of relationships being built and bonds of togetherness being created. The film is our salute to this spirit of togetherness and coming together of people."

India: Birla Corporation has shared details of its plans for a US$9.68m upgrade to its 1.3Mt/yr Durgapur, West Bengal grinding plant to expand the plant’s capacity to 1.5Mt/yr. The Times of India newspaper has reported that the company is planning to install a 0.2Mt/yr capacity vertical roller mill at the plant in response to “expected robust demand for premium slag-based cement in the eastern region.”

Birla Corporations recorded a profit of US$8.77m in the three months ended 31 June 2020, the first quarter of the Indian fiscal year, down by 53% year-on-year from US$18.8m in the corresponding period of 2019. Sales fell by 35% to US$163m from US$252m due to subdued demand during the coronavirus lockdown.

India: Birla Corporation has recorded a consolidated net profit of US$25.8m over the three months ending 31 March 2020, the fourth quarter of the Indian fiscal year 2020, up by 52% year-on-year from US$16.9m in the fourth quarter of the fiscal year 2019. Sales were US$223m, down by 5.5% from US$247m. This was due to the impacts of the coronavirus outbreak, which ended dispatches from late March 2020.

Birla Corporation said, “Despite muted market conditions, the company was able to raise price realisation through judicious adjustment of geographic and product mix aimed at increasing the share of blended and premium cements.”

Birla Corporation’s full year net profit for the fiscal year 2020 was a record US$66.7m, nearly doubling from US$33.7m in the fiscal year 2019.

India: Birla Corporation has recorded a profit of US$11.3m in the three months ending 31 December 2019 - the third quarter of the Indian fiscal year: up by 200% from US$3.77m in the corresponding quarter of 2018. Revenues in the period rose by 11% to US$243m from US$219m.

Birla Corporation has also announced plans for a 3.9Mt/yr integrated grinding plant in Mukutban, Maharashtra, as well as upgrades further increasing both its integrated and grinding capacities.

India: Birla Corporation has published plans for the construction of a 3.9Mt/yr-capacity integrated cement plant with a 40MW fossil fuel power plant and an 11MW waste heat recovery (WHR) plant at Mukutban, Maharashtra, which it says it will commission by March 2021. The Business Standard newspaper has reported that Birla Corporation, which is upgrading the clinker production capacity at its 2.5Mt/yr integrated Chanderia plant in Rajasthan to 3.0Mt/yr, will also upgrade its 0.6Mt/yr Kundarganj grinding plant in Uttar Pradesh to a capacity of 1.2Mt/yr. The planned projects will bring Birla Corporation to 20Mt/yr in installed capacity, making it India’s fifth-largest cement producer.

India: Birla Corporation and its subsidiary RCCPL have acquired a 26% stake in AMPSolar Clean Power. The cement producer plans to buy solar power for its Raebareli cement grinding plants and its Kundanganj cement grinding plant.