The Hyderabad-based Sagar Cements is expecting around 18 per cent jump in its production to 2.6 million tonnes in FY 2017-18.
The Hyderabad-based Sagar Cements is expecting around 18 per cent jump in its production to 2.6 million tonnes in FY 2017-18.
The company is also targeting an overall market growth of 10 per cent on consolidated basis from its captive market spread between South Maharashtra and Odisha.
"Last year, our overall volumes were at 2.2 million.
There has been one acquisition that happened during the Q3 and bulk of which got consolidated only in Q4," said Sagar Cements Executive Director S Sreekanth Reddy in company's earnings conference call.
"Keeping all these things in mind the overall outlook for us for Sagar is to grow from a 2.2 million to a 2.6 million,
" he further added.
The company had a consolidated sales of Rs 941.59 crore in the financial year ended March 31, 2017.
Sagar Cements is expecting Andhra Pradesh and Telangana markets to grow by 15 to 20 per cent each.
"Karnataka we expect to grow by 5 per cent, Maharashtra by 10 per cent, Odisha by 10 per cent, Tamil Nadu and Kerala we expect to degrow by approximately 5 per cent," Reddy said.
The company has raised sufficient amount from the market to fund its future growth plans.
"The QIP and the issuance of preference shares has provided us the necessary growth capital to meet the funding requirements for acquisition and expansion programme," he added.
Sagar Cements, which has completed acquisition of a grinding unit located at Anakapally, Visakhapatnam also has "plan to set up a 18 MW coal based & 1 MW solar captive power units at the company's Mattampally plant," Reddy said.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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