Sagar Cements Eyes 6.5 Million Tonnes Production Target for FY25

Sagar Cements is setting its sights on achieving production volumes of 6.5 million tonnes for FY25, announced Joint Managing Director Sreekanth Reddy. The expansion at the Dachepalli unit of Andhra Cements is on track, bolstering their confidence in meeting this target. Additionally, the board has approved the installation of 6 MW solar power plants at the Gudipadu and Dachepalli units, aligning with their Environmental, Social, and Governance (ESG) objectives.

Financially, Sagar Cements reported a 5% increase in total revenue for the first quarter ending June 30, 2024, reaching ₹560 crore, up from ₹549 crore in the same period last year. The company also saw an improved loss reduction, posting ₹32 crore for the current quarter compared to a ₹42 crore loss in the same quarter last year, with plants operating at approximately 49% capacity.

Reddy attributed the results to the expected soft demand and low prices during the quarter, influenced by intense heatwaves, labor shortages, and a slowdown in construction activities due to the General Elections. Despite a slight uptick in demand towards the quarter's end, the overall market remained subdued.

Looking ahead, Sagar Cements is optimistic about achieving its ambitious production goals while continuing to advance its sustainability initiatives.

News by Rahul Yelligetti