Mumbai, January 27, 2010: Binani Cement Limited, the flagship company of Braj Binani Group, announced its results for the third quarter ended 31 December, 2009 of FY 10.

 

NINE MONTHS FY10  Vs. NINE MONTHS  FY09

 

·         Net Sales increased by 36.98% to Rs. 13592 million as compared to Rs. 9924 million

            in nine months period FY09

·         EBIDTA gone up by 114.43% to Rs. 4501 million from Rs.2099 million in nine months  period FY09

·         PBT of nine months period FY10 stood at Rs.3256 million as compared to Rs 1002 million in nine months period FY09, registering an increase of 224.79%

·         PAT of nine months period FY10 stood at Rs.2650 million as compared to Rs 886 million in nine months period FY09 registering an increase of 199.11%

·         Sales Volume grown to 3809340 MT , reported a growth of 30.38%

·         Power generation ( net of captive consumption) increased by 26.45% to 1659.35 lacs kwh

 

Commenting on the Company’s performance in third quarter of financial year 2009 and  business outlook, Mr. Vinod Juneja, Managing Director, Braj Binani Group said, “Year 2009 was the toughest year. Despite of all the odds with our increased capacity and strong business strategy we were able to achieve our share in the market. Binani has successfully excelled over its competitors and has made significant achievements by receiving awards and certificates in energy conservation, quality excellence, sustainability, environment excellence, and water & energy management.”

 

KEY DEVELOPMENTS:

·        New cement Mill and Packer at Binanigram has been commissioned from Dec’ 09 to augment cement dispatches

·        Up gradation of Railway siding with additional railway line has been completed

·        Extension of wagon loading belt to third loading point in both sides expected to be commissioned by March ‘ 10

·        To enhance availability of packers interconnectivity with silos shall be done by March’ 10

·        Binani Cement ltd has a limestone reserve sufficient for the next 30 yrs situated  in Binanigram, Rajasthan

·        Lignite Mines: Nimri Lignite Block near Nagor district, Rajasthan comprises a polygonal area of 56.4 sq km. Exploration and mining lease application has been confined to the Nimri mine site area of 3.5 sq km located in the north central part of the block. The extractable reserve in the mine site area is about 5.5 million tones. Further exploration of the block would enhance the lignite resources

·        BCL has CAPEX plans of Rs 1700 crores to be spent over the next 2-3 years which includes Greenfield expansion in Gujarat, Grinding unit in Mauritius, Expansion in China & mine development in Nimbri Chandawatan, Rajasthan.

·         Binani has made long term arrangement of coal for captive purpose by acquiring coal mines in Indonesia near the coastal belt with a total investment of up to 15 million USD.

·         Binani is setting up a Singapore subsidiary for the purpose of coal which will basically control the interest in coal mines of Indonesia.

·         If the Government is able to build strong infrastructural developments of railways and  roadway, Binani is looking to invest Rs.52 million in the coal blocks.

 

About Binani Cement:

 

The flagship subsidiary of BIL, the Braj Binani Group is Binani Cement Ltd with gross asset value of Rs 26940 million and gross income of Rs 19110 million as of December 31st , 2009 and cement manufacturing capacity of 8.5MTPA, with subsidiaries in Dubai and China. The company’s product portfolio includes Ordinary Portland Cement, Pozzolona Portland Cement and Ground Granulated Blast furnace Slag (GGBFS in Dubai). The products are marketed under the premium “Binani Cement” brand name and enjoy significant market share in Rajasthan and other regions in northern and western India, sharing top-notch status with many of the nation’s leading cement brands.

 

The company is certified as ISO 9001, ISO 14001 and OHSAS 18001 compliant within a short span of commencement, an achievement that clearly illustrates the management's commitment to quality, efficiency, and the environment.