Latest news with #BirlaCorporation
Time of India
14 hours ago
- Business
- Time of India
Dalmia Bharat, Birla Corp incentive demand at risk after West Bengal scraps subsidy schemes
KOLKATA: Two major companies, Dalmia Bharat Ltd and Birla Corporation , said that about Rs 430 crore in promised state incentives may now be at risk after the West Bengal government scrapped several industrial subsidy schemes in 2025. An official of Dalmia Cement (Bharat) Ltd (DCBL), a wholly owned subsidiary of Dalmia Bharat, stated that it was supposed to receive Rs 236.32 crore along with 8 per cent interest under the now-revoked 'WB State Support for Industries Scheme 2013'. Dalmia Bharat operates a cement plant with a capacity of four million tonnes in Paschim Midnapore district. Birla Corporation Ltd, another affected firm, disclosed that it was to receive Rs 55.66 crore in Industrial Promotion Assistance (IPA), already sanctioned by the West Bengal State Industrial Development Corporation (WBSIDC). Additionally, the company has an outstanding claim of Rs 138.58 crore. Both companies fear that these incentive dues may be jeopardised due to the implementation of the Revocation Act. "This legislation is likely to adversely affect the order of the Hon'ble Calcutta High Court," a Dalmia Bharat official said, adding that the company is evaluating all legal options to protect its rights. Officials of both companies said they are reviewing the legal validity and retrospective nature of the Act and are considering all avenues, including court challenges. The West Bengal government had said in March that it had revoked eight incentive schemes for heavy industries', launched during the 1993-2013 period, and would formulate a modern scheme to encourage the setting up of industrial units. An industry chamber official, declining to be quoted, said these are just two cases and more are expected to join the list. During a previous discussion on the Revocation of West Bengal Incentive Schemes and Obligations in the Nature of Grants and Incentives Bill, Chief Minister Mamata Banerjee had said the situation had changed significantly over the last 20-25 years and that some of the incentives introduced by the erstwhile Left Front government had become "irrelevant" and were being withdrawn. "Now, various works are being done on AI technology. Many new ideas and approaches have been added to the industry. Therefore, a new policy is being brought with the opinions of all concerned," Banerjee had said. A committee was also set up in this regard.
Business Standard
12-05-2025
- Business
- Business Standard
Birla Corp soars after strong Q4 result
Birla Corporation hit an upper limit of 20% to Rs 1270.25 after the company's consolidated net profit for the March quarter, grew 33% year-on-year (yoy) to Rs 257 crore. "This came after three challenging quarters that had affected the entire industry. An uptick in demand and prices during the quarter led to better realization and a higher capacity utilization of 105% in the March quarter," the company said in a statement. Though realization for the quarter at Rs 5,103 per ton was still marginally lower than the same period last year (Rs 5,178 per ton) owing to the changed geographical mix, consolidated revenue for the quarter at Rs 2,863 crore was 7% higher yoy. EBITDA per ton rose to Rs 1,014--one of the highest in recent years. It represents a growth of 5% yoy and 78% sequentially. The Cement Divisions operating profit margin was 20% for the March quarter, compared to 18.6% in the same period last year, and 14% for the full year (15.5% in FY23-24). For the full year, the company's net profit declined 29.9% to Rs 295 crore while revenue declined 4.4% to Rs 9312 crore in the year ended March 2025 over the previous year ended March 2024. EBITDA fell 13.7% yoy to Rs 1315 crore in FY25. Birla Corporation's cement sales by volume for the March quarter grew 8% yoy to 5.2 mt. In FY24-25, the company sold 18.1 mt of cement, compared to 17.6 mt in the previous year, up 2.5%. Birla Corporation has reduced its net debt to Rs 2,244 crores at the end of March against Rs 3,003 crore a year earlier. The companys cost of borrowing at the end of March was 7.56%, down 35 basis points from a year earlier. Meanwhile, the company's board approved an investment of Rs 4,335 crore to scale up the production capacity from 20 million tons (mt) to 27.6 mt by 2028-29, by expanding an integrated unit and setting up three new grinding units. The expanded capacity includes the ongoing expansion at Kundanganj, which is progressing on schedule. The company's subsidiary, RCCPL, will invest Rs 2,300 crore into its Maihar (Madhya Pradesh) unit to expand its clinker production capacity. The clinker produced at Maihar will be fed to the three new grinding units, to be set up at Prayagraj, Gaya and Aligarh, for which Birla Corporation, and its subsidiary, RCCPL, have budgeted for an investment of Rs 2,035 crore. Separately, the companyh's board on Friday approved the re-appointment of Sandip Ghose as Managing Director and CEO for three years effective 1 January 2026. Ghose was responsible for developing the brand architecture of Birla Corporation and launched the Company in its product premiumization journey. Birla Corporation has interest in cement and jute goods. The company and its subsidiary, RCCPL, have 10 cement plants, in eight locations, across the country, with an annual installed capacity of 20 million tons. The company produces an array of cement products, under the MP Birla Cement brand, suited to different climatic conditions as well as consumer segments. It also sells construction chemicals and wall putty.
Business Standard
10-05-2025
- Business
- Business Standard
Birla Corporation consolidated net profit rises 32.72% in the March 2025 quarter
Sales rise 6.05% to Rs 2814.91 crore Net profit of Birla Corporation rose 32.72% to Rs 256.61 crore in the quarter ended March 2025 as against Rs 193.34 crore during the previous quarter ended March 2024. Sales rose 6.05% to Rs 2814.91 crore in the quarter ended March 2025 as against Rs 2654.44 crore during the previous quarter ended March 2024. For the full year,net profit declined 29.80% to Rs 295.23 crore in the year ended March 2025 as against Rs 420.56 crore during the previous year ended March 2024. Sales declined 4.57% to Rs 9214.49 crore in the year ended March 2025 as against Rs 9656.22 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 2814.912654.44 6 9214.499656.22 -5 OPM % 18.9617.80 - 13.2114.89 - PBDT 508.81415.73 22 988.071151.46 -14 PBT 366.57266.03 38 416.22573.15 -27 NP 256.61193.34 33 295.23420.56 -30
Time of India
10-05-2025
- Business
- Time of India
Birla Corporation's net profit rises 32.7% in Q4 FY25
KOLKATA: Consolidated net profit of Birla Corporation Limited, the flagship company of M P Birla group , increased 32.7 per cent at Rs 256.60 crore during the fourth quarter of 2024-25 as compared to Rs 193.34 crore in the corresponding previous period. The company informed the bourses after a board meeting held on Friday that consolidated total income increased 6.8 per cent at Rs 2,863.14 crore as against Rs 2,680.13 crore in the previous similar period. Primarily a cement manufacturing company, the board of Birla Corporation approved the proposal for issue of non-convertible debentures (NCDs) aggregating up to Rs 200 crore on private placement basis in one or two tranches. The board also approved capital expenditure towards increasing capacity by way of setting up a greenfield cement grinding unit with a capacity of 2.80 million tonnes per annum at Gaya in Bihar in a phased manner. The debt-equity ratio of the company at the end of March 2025 quarter decreased to 0.56 as compared to 0.67 in the previous corresponding period. Net profit margin of the company at the end of the fourth quarter of the last financial year increased to 9.27 per cent as against 7.42 per cent in the previous similar period.
Time of India
09-05-2025
- Business
- Time of India
Birla Corp to invest Rs 4,335 cr to expand cement production capacity
1 2 3 Kolkata: Birla Corporation, along with its subsidiary RCCPL, is planning to invest Rs 4,335 crore to scale up production capacity by setting up three new grinding units and expanding an integrated Corporation, the M P Birla Group flagship, reported around a 33% year-on-year jump in its consolidated net profit to Rs 256.6 crore for the fourth quarter last fiscal, backed by good growth in revenue from operations as both demand and prices rose during the company posted a net profit of Rs 193.3 crore in the fourth quarter of FY24. In Q4FY25, its revenue from operations witnessed a 6% year-on-year growth at Rs 2814.9 crore compared to Rs 2654.4 crore in company, in a statement, said its cement division's operating profit margin was 20% for the fourth quarter of FY25 compared to 18.6% in the same period of FY24. In a stock exchange filing, Birla Corporation said its board of directors, at its meeting on Friday, approved a capital expenditure towards increasing capacity by way of setting up a greenfield cement grinding unit, with a capacity of 2.8 million tonnes per annum (MTPA), at Gaya in Bihar in a phased manner. The proposed capacity would be added by Q4FY29 with an investment of Rs 860 company's wholly-owned subsidiary RCCPL is planning a capital expenditure of Rs 3475 crore towards increasing capacity by setting up two greenfield grinding units with a total capacity of 3.4 MTPA in Uttar Pradesh and one 3.7 MTPA brownfield clinker manufacturing unit at Maihar in Madhya Pradesh. "Our capacity utilization in central and eastern India is more than 100 per cent," said Harsh V Lodha, chairman, Birla Corporation.
