Displaying items by tag: Sagar Cements

India: Sagar Cements reported sales of US$146m in the first half of the 2026 financial year, up by 22% year-on-year. Its costs also rose steeply, by 11%, to US$149m. As such, its loss before interest and taxation was US$2.58m. This represents a successful reduction of 82%, from US$14.4m in the first half of the 2025 financial year. Sagar Cements proceeded with expansion projects at its Andhra Cements and Jeerabad cement plants ‘as per plan.’ Subsidiary Andhra Cements has since commissioned a six-stage preheater at its Dachepalli Plant in Andhra Pradesh on 23 October 2025. By the end of the 2026 financial year, Sagar Cements expects to commission a 4.35MW waste heat recovery plant at its Gudipadu plant in Andhra Pradesh and complete a 50% capacity expansion at its Jeerabad plant in Madhya Pradesh, up to 1.5Mt/yr. The group forecast full-year sales volumes of 6Mt.

Capital Markets News has reported that Joint Managing Director Sreekanth Reddy said "Our focus on operational efficiency and cost optimisation helped us sustain healthy margins even in a softer pricing environment. EBITDA/tonne remained resilient, supported by higher plant utilisation levels and disciplined cost management across the value chain. We have maintained our growth momentum in the second quarter of the 2025 financial year, despite the seasonal impact of the monsoon. As expected, realisations softened during the quarter; however, the overall operating environment remained stable, with costs remaining low.” Looking ahead to the current, second half of the financial year, Reddy said "With the monsoon season now behind us, we expect demand momentum to pick up, led by the continued push in infrastructure, housing and other construction activities.”

India: Sagar Cements will appoint Rekha Onteddu as non-executive independent director with effect from 30 June 2025. People in Business News has reported that Rekha currently serves as an independent director at parent company Andhra Cements.

India: Sagar Cements has announced the commencement of operations of its 6MW solar power plant, located at its cement plant in Gudipadu village, Ananthapur District, Andhra Pradesh. The plant is part of the company's broader strategy to integrate renewable energy into its operations, according to Business Upturn.

India: Sagar Cements recorded sales of US$80.5m in the third quarter of the 2024 financial year, up by 16% year-on-year from US$69.3m during the corresponding quarter of the previous financial year. Cement sales volumes rose by 14% year-on-year. The Hindu BusinessLine News has reported that the growth allowed Sagar Cements to reduce its net losses by 57%, to US$1.22m.

Managing director Sreekanth Reddy said “Favourable prices prevailed in our key markets. As far as EBITDA and margins are concerned, we observed a significant enhancement on a per-tonne basis, consistent with our earlier projections.” Reddy added “We anticipate this positive trend to persist in the future, supported in part by higher utilisation levels of recently-acquired units and strategic initiatives aimed at promoting the use of green power, alternative fuels and the deployment of electric trucks and wheel loaders.”

India: Andhra Cements has commenced work to dispose of grinding mills from its Visakha grinding plant in Andhra Pradesh’s Visakhapatnam District, Reuters has reported. The plant previously had a capacity of 600,000t/yr.

Sagar Cements concluded a deal to acquire Andhra Cements in January 2023.

India: Sagar Cement has appointed J Raja Reddy as its company secretary and compliance officer with effect from 11 November 2023. He succeeds R Soundararajan in the post, following his retirement for health reasons. Reddy has worked for Sagar Cement since 2013 and is currently working as the company’s assistant company secretary.

India: Sagar Cements reported sales worth US$136m in the first half of the 2024 financial year. This corresponds to a year-on-year rise of 9.1% from US$124m in the first half of the previous financial year. The producer recorded a loss for the period of US$6.31m, down by 3.9% from US$6.57m. This was in spite of a 7.8% rise in its total costs, to US$148m.

India: Sagar Cements says that its subsidiary Andhra Cements will relaunch the clinker line at its Durga cement plant in Andhra Pradesh before July 2023. The Hindu BusinessLine newspaper has reported that the producer previously relaunched grinding operations at the plant in April 2023.

Sagar Cements plans to invest a further US$56.8m in Andhra Cements’ Durga cement plant to increase its installed cement capacity by 67% to 3Mt/yr and its clinker capacity by 39% to 2.3Mt/yr before 2025.

India: Sagar Cements says that it will pay US$111m to acquire Andhra Cements outright. The Hindu BusinessLine News has reported that the deal will more than double the producer's capacity to 8.25Mt/yr. By 2025, Sagar Cements expects to increase the newly acquired subsidiary's clinker capacity by 1.2Mt/yr, and its grinding capacity by 600,000t/yr. The group plans to invest US$56.8m in capital expenditure before 2025 in order to realise its plans.

India: Sagar Cements recorded consolidated sales of US$197m during the first nine months of the 2023 Indian financial year, more than four times the US$44.6m that it recorded during the corresponding period of the 2022 financial year. Costs rose sharply during the period. Raw materials accounted for 45% of total costs. The producer spent US$32.1m on raw materials, up by more than a factor of four from US$6.54m. Sagar Cements made a nine-month net loss of US$11m, compared to a US$6.07m profit during the first nine months of the 2022 financial year.