Shiva Cement fell 3.03% to Rs 20.80 after the company reported a net loss of Rs 5.72 crore in Q4 FY21 compared with net loss of Rs 6.32 crore in the same period last year.
Net sales during the quarter fell 6.4% year-on-year (YoY) to Rs 7.92 crore. Interest outgo, however, declined 22.3% to Rs 2.93 crore in Q4 FY21 over Q4 FY20.
Consequently, the company reported a pre-tax loss of Rs 7.52 crore in Q4 March 2021 as against pre-tax loss of Rs 8.41 crore in Q4 March 2020.
The cement maker reported a net loss of Rs 21.97 crore in the year ended 31 March 2021 as against net loss of Rs 22.82 crore in the year ended 31 March 2020. Net sales contracted 12% to Rs 28.49 crore in FY21 over FY20.
At meeting held on 03 April 2021The Board of India Cements at its meeting held on 03 April 2021 has appointed of S Christopher Jebakumar (DIN: 06956160) by IDBI Bank as Nominee Director in the place of V.Venkatakrishnan (DIN: 08067933).
The Board also appointed Sanjay Shantilal Patel (DIN: 00283429) as a Non-executive Independent Director of the Company for a period of 3 consecutive years with effect from 03 April 2021, subject to the approval of Shareholders.
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The rating has been withdrawn for the following instruments / facilities:
Term loan - ICRA BBB+; Stable (reaffirmed and withdrawn)
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Short term fund based limits - ICRA A2 (reaffirmed and withdrawn)
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The unit has a grinding capacity of 3 million tonnes per annum (MTPA).Shree Cement said it has commenced commercial production at its new cement grinding unit having capacity of 3.0 MTPA set-up at Athagarh Tehsil in Cuttack District of Odisha.
The scrip declined 1.27% to currently trade at Rs 27,349.90 on the BSE. It traded in the range of 27850 and 27211.20 so far during the day.
On a year-to-date (YTD) basis, the stock has gained 13.77% while the benchmark Sensex has added 5.28% during the same period.
Shree Cement is a leading cement manufacturer in the country having its operations spread across several states. The company also has business interest in power generation and trading.
The Ramco Cements has commissioned Phase I and II waste recovery plants at its Jayanthipuram plant.
The company has plans to install 27 MW of waste heat recovery plants in all the three lines of clinker manufacturing, including the proposed third Line, which is nearing completion.
The Phase I of the waste heat recovery plant of 9 MW capacity was commissioned in September 2020 and is producing its full capacity.
The Phase II of 9 MW capacity has been completed and commissioned on 28 February 2021. The Phase III of 9 MW is scheduled to be commissioned, after commissioning of the Line III of the clinkerisation plant.