Binani Cement Registers 61 % Growth In Net Sales; Registers PBT Growth Of 113%
Mumbai, July 22, 2009: Binani Cement Limited, the flagship company of Braj Binani Group, announced its results for the first quarter ended 30 June 2009 of FY 10.
Highlights Q2 FY10:
- Net Sales increased by 61% to Rs. 524 Crores as compared to Rs 326 Crores in Q1 FY09
- EBITDA gone up by 78%to Rs. 170 Crores from Rs 96 Crores in Q1FY09
- PBT of Q1 FY10 stood at Rs. 129 Crores as compared to Rs 60 Crores in Q1 FY09, registering an increase of 113%
- PAT of Q1 FY10 stood at Rs. 107 Crores as compared to Rs 53 Crores in Q1 FY09 registering an increase of 100%
- During the current period, the profitability of the Company has improved primarily due to higher sales volume, better price realization and reduced cost of fuel.
- Sales volume grown to 13 Lacs ton, reported a growth of 50%
Note On Q2 FY10 Result:
The Second phase of the 2 x 22.3 MW power plants has started generation of power from first week of June, 09 and is presently under trial run.
The installation of one additional cement grinding and packing plant at Binanigram is expected to be completed by the end of 2009. Consequently, the Company will have flexibility for optimising its product mix and increasing the existing cement capacity from 6 MTPA to 6.25 MTPA.
Approval for mines for the proposed greenfield project in Gujarat having 2.5 Million Tonne Clinker/Cement production capacity is awaited from the Government of Gujarat.
Land acquisition and development work is in progress for the lignite project at Nimbri Chandawatan, Rajasthan at a total project cost of Rs.100 Crores. Production from the mines is expected by 3rd Qtr. 2010.
The expansion of the capacity of the grinding unit of Binani Cement Factory LLC, UAE, a Subsidiary of BCL, from 1.2 Million MT to 2.0 Million MT is expected to start trial run by the end of this month.
Shandong Binani Rong’An Cement Co. Ltd., China, a Subsidiary of BCL, has undertaken expansion of its Cement manufacturing capacity from 0.50 Million MT to 3.00 Million MT at an estimated project cost of Rs.600 Crores. The land acquisition and project design and engineering works are in progress. The plant is expected to go into production by 1st Qtr 2011.
Commenting on the Company’s performance in first quarter of financial year 2009 and business outlook, Mr. Vinod Juneja, Managing Director, Braj Binani Group said,“This is one of the best results. If we have good monsoon we will multiply the results for the year end. We are on the growth path”
Key Developments:
- Binani gram Power Plant No.4 successfully commissioned in June’09 and is under Trial Run
- Bulk loading of Cement from Silo no 6 commissioned in April’ 09
- New cement Mill and Packer at Binanigram to be commissioned by Dec’ 09 to augment cement dispatches
- Up gradation of Railway siding with additional railway line will be completed by Dec’ 09
- 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.
