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.
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.”
The flagship subsidiary of BIL, the Braj Binani Group is Binani Cement Ltd with gross asset value of Rs 2315 crores and gross income of Rs 2217 crores as of March 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.