In an analysts’ name, the corporate officers stated the worth enhance was being effected in view of the rise in gas costs
In an analysts’ name, the corporate officers stated the worth enhance was being effected in view of the rise in gas costs
Ramco Cements has introduced a value enhance of ₹20-25 per bag within the South efficient June.
In an analysts’ name, the corporate officers stated the worth enhance was being effected in view of the rise in gas costs. However, its sustainability wanted to be watched, they added.
During April and May, the demand was sturdy as in opposition to the low base as a consequence of lockdowns final yr. The demand had proven enchancment as infrastructure tasks had picked up within the current months. Overall, the trade development may very well be at 10% and the corporate would doubtless obtain a quantity development of 15% in FY23.
The firm stated it was planning to develop into web debt-free by FY26, offered no main capex was deliberate.
As of FY22, debt stood at ₹3,800 crore and plans had been on to repay about ₹500 crore throughout the present fiscal.
On growth, the corporate stated it was planning to put in yet another unit of 1-1.5 mtpa grinding capability in Karnataka at a capex of ₹300-350 crore. Land acquisition for a similar was in course of. Besides, it had deliberate a capex of ₹1,200-1,300 crore over the subsequent two years.
Recently, the corporate had gained the bid for a limestone mine in Karnataka at 25% premium of the bottom value, which was decrease than the current bids. These mines may very well be used for an built-in plant, which might come up within the State. It may be used to feed the grinding unit in Maharashtra as soon as it got here up, Ramco Cements stated.
Source: www.thehindu.com
