Displaying items by tag: Shree Cement

India: Shree Cement has signed a memorandum of understanding with the government of Karnataka to invest nearly US$1bn in cement manufacturing facilities over the next five years. The producer will build a cement plant in the city of Kalaburagi, with 3.5Mt/yr of clinker capacity and 3Mt/yr of cement capacity, for US$288m. The plant will create 300 jobs and start production in 2025.

Shree Cement will build a second plant nearby, in the Kalaburagi district. The plant will have a clinker capacity of 3.5Mt/yr and an eventual cement capacity of 6Mt/yr, to be commissioned in two phases. It will create 750 jobs and cost US$575m. Commissioning is scheduled for 2030.

The last project planned is for a clinker grinding plant in the district of Bangalore Rural, with a capacity of 3Mt/yr and a cost of US$98m. The facility will create 250 jobs and begin production in 2028.

Shree Cement has stated that it is ‘committed to sustainable development’ and will ‘incorporate advanced technologies to ensure environmentally friendly operations.’

India: Shree Cement has reported that, in the third quarter of the 2025 financial year, its profit after tax fell by 72%, to US$22.4m, down from US$81m in the previous corresponding period. The company’s net consolidated total income declined by 12% year-on-year to US$540m, whilst sales volumes increased by 15% to 8.77Mt compared to the second quarter of the 2025 financial year. The company plans to commission its ongoing expansion projects in Rajasthan, Karnataka, Chhattisgarh and Uttar Pradesh in the first quarter of the 2025-2026 financial year.

India: Shree Cement’s profit plunged by more than 80% year-on-year to US$11.0m in the three months to 30 September 2024, weighed down by weakness in both demand and low prices. While the September quarter is seasonally weak for cement makers in India, the country's third largest producer's sales volume slipped as compared to the previous year too, falling by 7% to 7.6Mt.

Neeraj Akhoury, managing director of Shree Cement, said "Despite strong headwinds on account of an extended monsoon season and softer pricing environment across the industry, Shree Cement has delivered a steady performance on the back of accelerated operational efficiency measures, focused cost optimisation drive and product ‘premium-isation’ initiatives.” He added that the company expects an increase in demand in the remainder of the 2025 fiscal year due to the release of government budgetary allocations for national infrastructure projects.

India: Shree Cement's Ras quality control laboratory in Rajasthan has been recognised by the National Accreditation Board for Testing and Calibration Laboratories (NABL), affirming its compliance with the ISO/IEC 17025:2017 standards. Managing Director Neeraj Akhoury said that the accreditation acknowledges the company's commitment to providing premium, sustainable building materials. The laboratory's role in ensuring standardisation across all product testing is important for maintaining production quality at the plant.

India: Shree Cement has signed a memorandum of understanding with the Department for Promotion of Industry and Internal Trade (DPIIT) to support startups in India's manufacturing sector. This partnership aligns with the government's ‘Make in India’ vision to encourage domestic manufacturing and build a self-reliant economy. Through this collaboration, startups will gain access to Shree Cement’s industrial expertise, network and resources, which will help them scale their operations and develop solutions. This initiative is expected to create new job opportunities, boost local production and reduce import dependency.

India: Indian cement manufacturers plan to invest approximately US$14.3bn over the next four years to increase capacity by 25%, adding 160-170Mt/yr of cement production, reports the Times of Oman newspaper. This expansion is reportedly driven by rising domestic demand and a significant infrastructure push by the government, with plans to invest US$1.7tn in infrastructure projects by 2030. The industry aims to fund this growth primarily through internal accruals, reducing reliance on debt. The top three producers —Ultratech, Ambuja, and Shree Cement — will reportedly contribute over 70% of the total capacity increase.

India: Shree Cement says that it has reached 1GW captive power capacity across its plants, after commissioning a new 19.5MW solar power plant at a facility in Andhra Pradesh. Renewables account for 499MW (50%) of the total. Shree Cement says that its investments in renewables to date total US$479m. NBM & CW News has reported that the company has current planned new investments worth US$120m in renewables. This will cover 132MW-worth of solar, 36MW of wind and 34MW of waste heat recovery power capacity.

India: Shree Cement recorded a net profit of US$80m for the quarter ending 31 March 2024, up by 21% year-on-year from US$65m. The company's net revenue also rose by 7% to US$610m during the same period, compared with US$573m in 2023. Operating expenses decreased by 3% year-on-year to US$472m.

India: Shree Cement has inaugurated its Guntur cement plant in Andhra Pradesh in southern India. The producer says that the move raises its cement capacity by 5.6% to 56.4Mt/yr, with six integrated cement plants. It already operates one other plant in South India, the 2.4Mt/yr Kodla cement plant in Karnataka. Press Trust of India News has reported that the Guntur cement plant cost US$300m and will employ 700 people. It will serve the ‘growing markets’ of Andhra Pradesh and Telangana. The plant will co-process up to 30% alternative fuel, consisting of municipal solid waste and biomass, as cement fuel.

Managing director Neeraj Akhoury said "We're committed to growing responsibly. The Guntur plant reflects this by using advanced technology for manufacturing and controlling emissions, making high quality cement with the efficient use of energy.”

India: Roofsol Energy has won a contract to supply solar power plants with a total capacity of 10.5MW for Shree Cement in Jharkhand and Uttarakhand, Saur Energy News has reported.

Roofsol Energy said “Shree Cement owns and operates cement grinding units in nine locations across India and owns production facilities in Rajasthan, Chhattisgarh and Karnataka and has operations in India and UAE. The company carries out power generation through waste heat recovery plants and now it is adopting solar plants as well.”