Sagar Cements will be able to achieve production volumes of 6.5 million tonnes during FY25, according to its Joint Managing Director, Sreekanth Reddy.
“Expansion plan at Dachepalli unit of Andhra Cements is progressing as per schedule and we believe we will be able to achieve volumes of 6.50 million tonnes during FY25. The board has accorded its approval for setting up 6 MW solar power plants each at its Gudipadu and Dachepalli units which is in line with our stated ESG objectives,’‘ Reddy said.
Hyderabad-based Sagar Cements total revenue increased 5 per cent at ₹560 crore in the first quarter ended June 30, 2024 against ₹549 crore in the corresponding quarter of the previous financial year. The company reported a loss of ₹32 crore for the current quarter compared to a ₹42 crore loss in the same period last year.
Plants operated at around 49 per cent during the current quarter.
“Our results are largely on expected lines given the soft demand and benign prices which prevailed during the quarter. Volume trended lower amidst intense heatwave, labour unavailability and slowdown in construction activities because of General Elections,’‘ he said.
While certain pockets did witness pick-up in demand during the later part of the quarter, on an overall basis it was largely subdued, he added.