Displaying items by tag: Prism Cement

India: Prism Johnson, formerly known as Prism Cement, has received a letter of intent from the state government of Madhya Pradesh allocating it a mining lease for limestone. The agreement lasts 50 years for a site at Bairiah and Chormari villages and it includes approximately 77Mt of reserves.

India: Manish Bhatia has been appointed as the chief financial officer of Prism Cement. He succeeds Pramod K Akhramka who has resigned from the company. Bhatia holds over 20 years experience in corporate finance.

India: Prism Cement has appointed Raveedra Chittoor as an additional director to its board. Chittoor holds a post graduation qualification from the Indian Institute of Management in Ahmedabad and is a Fellow of Management from the Indian Institute of Management in Calcutta. He has 12 years of industry experience in corporate finance and investment management. Chittoor is currently an associate professor at the Gustavson School of Business at the University of Victoria in Canada. Prior to this he taught at the Indian School of Business in Hyderabad and the Indian Institute of Management in Calcutta.

India: Prism Cement has received a letter of intent from the state government of Madhya Pradesh to grant it a lease to mine cement grade limestone at Chulhi and Majhiyar, Satna district for 50 years. The lease covers reserves of about 23.6Mt and it applies to the cement producer’s plants in the state.

India: Rajesh Kapadia has resigned from Prism Cement as its chairman and non-executive, non-independent director. The resignation takes immediate effect. Kapadia cited poor health for his decision.

India: Prism Cement has purchased 120,000t/yr of coal from South Eastern Coalfields, a subsidiary of Coal India. The cement producer successfully bid for the fuel in a recently held auction of coal linkages for the cement industry. The company said that it has secured part of its fuel requirement for the next five years and the allocation by Coal India has been made at the floor price.

India: Prism Cement Limited has appointed Joydeep Mukherjee as its Chief Executive Officer - HRJ (designate) and Key Managerial Personnel with effect from 16 December 2015. HRJ or H R Jhonson is a division of Prism Cement.

India: Prism Cement has acquired a 50% stake in Coral Gold Tiles Pvt Ltd. It did not disclose the value of the deal. The acquisition will increase Prism Cement's tile business capacity to 58Mm2/yr from 54.5Mm2/yr.

India: Prism Cement's standalone net loss widened to US$5.08m for the second quarter of its 2016 fiscal year, which ended on 30 September 2015, compared to a net loss of US$3.02m in the same period of 2014. During the period, its net sales grew by 4.56% to US$213m. Prism Cement sold 1.35Mt of cement and clinker compared to 1.29Mt during the same quarter of its 2015 fiscal year.

Prism Cement said that the short term scenario remains 'challenging,' however, government initiatives such as housing, 'smart cities' and the push to infrastructure aided by a stable inflation and rate cut bodes well for the medium and long term economic outlook.

India: Prism Cement Limited has appointed Vivek Krishan Agnihotri as a director following the resignation of the previous director. The Board has also appointed Agnihotri as the executive director of cement, effective from 17 August 2015.