Shiva Cement expects Rs 450 cr revenue in FY16

Cement manufacturer Shiva Cement is expecting Rs 450 crore revenue in FY16 on the back of its expansion plans. The company has embarked on a massive capacity expansion and entered into an MoU with the Odisha government involving an investment of Rs 800 crore recently. The first phase of its expansion plan, which involves an investment of Rs 270 crore, is expected to be operational by January 2015.

The company will start seeing the results of this expansion in 2015-16, Chairman and Managing Director of Shiva Cement RP Gupta said in Mumbai. In the phase I, the company will be expanding its current 0.132 mtpa capacity to one mtpa and in the second it will go more than 2 mtpa, he said. Shiva Cement had reported total income of Rs 50.79 crore for the 9-month period of April-December 2012.

The company has already entered into alliance with cement major ACC for equity participation for the expansion. ACC currently holds 14.5 per cent share in the company.