New Vice-Chairman For Century

K.M.Birla Now Vice-Chairman of  B.K.Birla's Century Textiles and Industries

Century Textiles and Industries' Board Of Directors has appointed Kumar Mangalam Birla, Chairman of the Aditya Birla group, as Century’s Vice-Chairman. K.M.Birla, is the grandson of B.K.Birla, who is the Chairman of Century Textiles and Industries. Prior to this appointment, K.M.Birla was a director on Century’s board.

Century Textiles and Industries has a big cement business, apart from textiles and real estate in Mumbai. According to cement industry sources, Century  could be merged with UltraTech Cement, owned by the Aditya Birla group. UltraTech is India's largest cement company, with a capacity of 67.7 MPTA. 

Century Textiles has a cement capacity of 12.8 MPTA, while Kesoram Industries has a cement capacity of 7.25 MPTA. Both these cement companies form part of the B.K.Birla empire.

In recent years, cement industry insiders say that the Aditya Birla group companies had increased their stakes in Century Textiles and Industries, from 45 % to 50 %.

Anjani Portland Cement

Anjani Portland Cement Posts Excellent Q2 Results

Hyderabad based Anjani Portland Cement has posted its 2015 Q2 results.

Net Profit stood at Rs.9.60 crore, against Rs.2.88 crore for the corresponding quarter last year, an increase of 233 %.
Net Sales stood at Rs.79.13 crore, against Rs.67.07 crore for the corresponding quarter last year, an increase of 26 %.
Finance Cost stood at Rs.4.08 crore, against Rs.7.78 crore for the corresponding quarter last year, an decrease of 48 %.

The cement and cement products maker posted such excellent results on the back of strong realization and lower finance cost.

Anjani Portland Cement started with an initial production capacity of 0.3 million tonnes per annum in 1999. Its current cement production capacity is 1.2 million tonnes per annum. Its second plant powered with the latest modern technology had started operations in 2010.

Jaypee Group To Divest Cement Business

Jaypee Group In Talks With JSW Cement With New Offer

Around eight months ago, the Jaypee Group had initiated talks with JSW Cement, a private company of the diversified Sajjan Jindal lead JSW Group to sell its entire approx. 22 MPTA cement portfolio. At that time, sources say the offer was to sell a controlling 51 per cent stake in a joint venture that would keep majority control of its cement units with the Jaypee Group. The talks did not come to any tangible conclusion.

Now, informed sources say, Jaypee has gone back to JSW cement with a new proposal that calls for a complete sellout of its cement business. Though, some sources say that Jaypee is likely to exclude its first cement plant located in Rewa, Madhya Pradesh, from the proposed sale.

Inspite of divesting around 9 MPTA of cement capacity to other cement companies like UltraTech Cement (4.8 MPTA), Shree Cement (1.5 MPTA) and Dalmia Cement (2.1 MPTA), as well as its current efforts to divest an additional 4.9 MPTA in Madhya Pradesh to UltraTech, the Delhi-based Jaypee Group group is still among the top five cement players in the country.

The Jaypee Group's has cement units in Uttar Pradesh, Himachal Pradesh, Andhra Pradesh, Chhattisgarh and Karnataka. The group's flagship company,Jaiprakash Associates (JPA), has approximately 14.2 MPTA, under its wing. The rest, including the 5 MPTA Balaji Cement, are under subsidiaries, joint ventures or group entities.

More on Cement Business Aquisition here...