Binani Industries Press and Media
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Binani Cement Reported Higher Price Realization; Turnover Increased by 48%, EBITDA Stood at Rs. 306 Crores

Highlights of FY 08-09:

Mumbai, April 23, 2009 : Binani Cement Limited, Rs 1700 crores cement major & the flagship subsidiary of Rs. 2500 crores Braj Binani Group today announced the results for the 12 months period ending March 2009. The company has registered an impressive turnover of Rs. 1730 crore for FY 08-09, registering a growth of over 48%.

FY 2008-09 Vs. FY 2007-08:

Commenting on the Company’s performance and future growth strategies Mr. Vinod Juneja, Managing Director, Braj Binani Group said,“Binani Cement performed well in the FY 08-09 despite a weakening rupee and Forex fluctuation loss on account of increase in imported coal prices. Despite cost pressure, Binani Cement managed higher realization due to 50 per cent growth in sales volume. The company has executed a long term contract for supply of coal from Indonesia for its coal requirements for its Captive Power Plants which will show a saving in input cost in coming fiscal year. Company’s policy to hedge supply and avoid speculating gains or losses has given a firm stand to Binani Cement and post a profit in the global downturn.”

“The Company’s financial performance confirms that its strong development strategy to diversify capacities and global expansion has been based on the right assumptions and that its position in the markets of Premium OPC segment is very strong,” added Mr. Juneja

Key Developments in FY 08-09:

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