Jai Balaji Inds to enter into cement biz

Jai Balaji Industries stated that, in the long run, the company intends to expand its portfolio by entering the cement business in addition to its existing business. Jai Balaji Industries is an integrated steel manufacturer with five facilities in West Bengal's Durgapur and Raniganj, as well as Chhattisgarh's Durg. Ferro alloys, alloy and mild steel billets, reinforcement steel TMT bars, wire rods, ductile iron (DI) pipes, and alloy and mild steel heavy rounds are among the value-added products offered by the company. In the quarter ended December 2022, the company's consolidated net profit increased 134.74% to Rs 279.1 million, up from Rs 118.9 million in the previous quarter ended December 2021. In Q3 FY23, sales increased 20.11% to Rs 15.36 billion from Q3 FY22. The stock has dropped 3.08% to Rs 50.35 on the BSE. See also: Dalmia Bharat to buy Jaypee Cement for Rs 56.66 billion RHI Magnesita to acquire Indian refractory business of Dalmia Bharat