Ramco Cements to commission ₹1,775-cr for capacity expansion project in next fiscal
The Ramco Cements Limited, a cement manufacturing company, said its ongoing capacity expansion projects estimated at ₹1,775 crore will be commissioned during the next fiscal.
At its Jayathipuram plant, the company is building Line III and an additional clinkerisation capacity of 1.5 million tonnes per annum at ₹680 crore. Expansion of grinding units in Visakhapatnam, Kolaghat and establishment of a new grinding unit in Odisha are on progress, which cost around ₹1,095 crore. The company has clarified that these projects are expected to be commissioned in 2019-20.
The company on Wednesday, reported a drop in its profit after tax both for the fourth quarter of 2017-18 and the full year.Its standalone PAT for FY18 fell 14 per cent at ₹556 crore compared with ₹649 crore in FY17 on the back of lower operating profit, which stood at ₹1,136 crore (₹1,238 crore). However, revenue has grew by 11 per cent at ₹4,443 crore (₹3,993 crore). The eastern markets have contributed to the overall sales of the company, the most.