Binani Cement Limited (BCL) has posted a Profit before Tax of Rs. 61.01 Crore during the third quarter ended December 31, 2007 registering an impressive 89.17% jump over the profit pf Rs. 32.25 Crore during the third quarter ended December 31, 2007. Net profit in Q3 stood at Rs. 53.95 Crore with a whooping jump of 209% over the corresponding quarter that had the net profit of Rs. 17.45 Crore. During the quarter December,2007 the company has sold 88,295 MT of Clinker and 667,873 MT of Cement compared to 5,87,187 MT of Cement in the corresponding quarter of the previous year.
During the period of nine months ending on December 31, 2007, Binani Cement Limited registered Net Profit of Rs. 152.49 Crore - an increase of 117 % over the net profit of Rs. 70.14 Crore in the corresponding period of nine months ending December 31, 2007. Net sales rose to Rs. 642.67 Crore from Rs. 493.50 Crore in the corresponding period of nine months ended December 2007.
The Kiln and the Cement grinding unit of the expansion project at Binanigram commenced commercial production from 2nd October, 2007 and 6th December, 2007 respectively. Consequent to this the cement capacity of the company has been increased from 2.25 Million Tonne per annum to 4.50 Million Tonne per annum. The Spilt Cement grinding unit for the expansion project which is under installation at Neem ka Thana located in North Rajasthan is scheduled to be completed in the current quarter which will further increase the cement capacity to 6.0 Million Tonne per annum. Development work has been initiated in respect of the lignite mine allotted to the company in the State of Rajasthan. Production from the mines is expected to start in early 2009.'The supply of lignite from the mines would facilitate reduction in cost of power from CPP.
Mr. Vinod Juneja, Deputy Managing Director, Binani informed, “The Board of Directors at Binani Cement Limited have approved rising of funds in foreign currency up to 125 million US Dollars by way of FCCBs /GDRs /ADRs and / or any other instruments to inter-alia facilitate expansion of capacities and for overseas acquisitions subject to all the necessary approvals. Binani Cement Limited is all set to shift gears and move ahead to expand its capacity to 10-12 mio TPA in the next 2-3 years.”
BCL is the flagship company of the Braj Binani Group which has interests in Cement, Zinc and Glass Fibre. BCL’s cement plant is situated in Binanigram, Pindwara, Sirohi, Rajasthan. In order to reduce freight cost the second grinding mill is being setup in Neem Ka Thana closer to Haryana and the adjoining NCR region. BCL’s main markets are Rajasthan, Gujarat, New Delhi and the NCR region. With the capacity expansion, it plans to extend its market areas to interior Uttar Pradesh and Maharashtra. BCL also has a railway siding connecting to a broad guage line which connects New Delhi, Ahmedabad and Mumbai. BCL’s operating parameters are comparable with the best in the industry. BCL has further plans to expand its capacity to 10-12 mio TPA in the next 2-3 years.
Sourced From: Madison Public Relations
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