UltraTech Cement reported a 113 per cent jump in its net profit. Its consolidated net surged over twofold to Rs 12.34 billion on a year-on-year (y-o-y) basis for the quarter ended September 30. Reportedly the company’s strong performance is on the back of operational efficiencies, lower finance cost and its ability to serve all Indian markets.
Odisha, rich with its precious mines, minerals and ideal geographic location, has always been a state with high industrial potential, and one of the key markets for the Ramco Cements. The company has been marketing around a million tons of cement each year in the state. So far the cement was being moved from the manufacturing facilities in Andhra Pradesh. As the state is developing very fast, Ramco Cements decided to set up its grinding unit in Odisha three years back and in November 2017 the Honorable Chief Minister of Odisha Mr Naveen Patnaik was kind enough to be the Chief Guest for the ground breaking ceremony. On 8th October 2020 the honorable Chief Minister has inaugurated the plant operations. This new Cement Grinding Unit of The Ramco Cements, with its world class machinery and modern technologies, is on the path of setting a new trend in the industrial sector, with innovative ideas for a cutting edge production facility, and ushering in a new age in Odisha.
JK Cement is the brainchild of Yadupati Singhania, scion of the reputed Singhania family. A BTech from Indian Institute of Technology (IIT), Kanpur, he had over 25 years of experience in the cement industry due to his close association with the cement units of JK Synthetics.