Indian cement producer Kesoram Industries has reported a loss of INR1160m (US$14.2m) in the year ended 31 March 2023 (FY22-23), down from INR1300m in the same period a year earlier. The company expects to be back in profit this year on the back of a steady rise in the share of blended cements in its total sales, along with lower production and distribution costs, according to The Hindu.
The cement producer’s CEO, Mr P Radhakrishnan, forecasts EBITDA to improve to INR1000-1200/t in the next three years, compared to the current INR600-800/t. It is planning to focus on the rural market as well as brand positioning for its blended cement, with its premium blended cement brand, Birla Shakti ConQUeret, seen as a key driver in the company’s future growth.
2023 saw the company’s cement production come in at 7.03Mt, down from 7.42Mt in the previous year. It currently runs a clinker capacity of around 6.2Mta and a cement capacity of 9-10Mta, the latter of which it aims to ramp up to 15Mta over the next five-year period.
