Shree Cement sees 14% revenue increase and plans new capacity

India’s Shree Cement has announced a 19.6 per cent YoY fall in net profit to INR3.21bn (US$46.18m) for the 4QFY18-19. However, revenue increased 14.2 per cent to INR33.29bn from INR29.15bn.

The company’s cement segment recorded a 16.9 per cent increase in revenue to INR32.84bn from INR28.11bn.

Meanwhile, the company has also announced plans to add 3Mta of grinding capacity to its unit in Pune, Maharashtra. The project is expected to be completed by September 2020 and represents an investment of INR5.25bn.