Sagar Cements completes the acquisition of Jaipur Cements
Sagar Cements has acquired 100 per cent shareholding in Jaipur Cements (JCPL) for setting up a greenfield cement grinding unit of 1.5 million ton capacity in Jaipur at a total cost of Rs. 308.10 crore. The process of setting-up of the said unit is being set in motion and will be completed by March 2021.
Sagar Cements Limited is engaged in the manufacture of cement. The company is engaged in the business of cement and cement-related products. The company manufactures various varieties of cement, such as ordinary Portland cement (OPC) of 53 grade, 43 grade, Portland Pozzalona Cement (PPC) and Sulfate Resistant Cement (SRC) to suit the various need of customers. The cement produced by the company is sold under the brand name, SAGAR. Its products are used for applications, such as reinforced cement concrete (RCC) works; precast concrete items, such as paving blocks and tiles building blocks; pre-stressed concrete components; runways, concrete roads and bridges; general civil engineering construction work; asbestos products, such as sheets and pipes, and non-structural works, such as plastering and flooring. Its products are also used for mass concreting and plain cement concreting, and for plastering and single storied individual houses. Its plants are located in Telangana, India.
In Q3FY19, Sagar Cements consolidated sales stood at Rs. 319.11 crore in December 2018, up 27.95 per cent from Rs. 249.40 crore in December 2017. The company reported a net loss of Rs. 2.97 crore in December 2018, down 198.67 per cent from Rs. 3.01 crore in December 2017. The company’s EBITDA stood at Rs. 30.95 crore in December 2018, down 6.33 per cent from Rs. 33.04 crore in December 2017.
On Friday, Sagar Cements was trading at Rs. 625.05 per share, down 1.52 per cent on the BSE.