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As per reports, the debt on India Cements inclined to 1.43 per cent than last year. The current calculated net debt for this year is Rs. 3,039 crore, which was Rs. 2,996 crores in 2021
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UltraTech Cement, owned by Aditya Birla Group and Grasim Industries are leading the race to acquire India's Cement Project worth Rs 800 crore in Madhya Pradesh.
JSW Cement running at the second position to attain the project.
According to the report, the deal can be ended anytime soon.
The project also has backward chains to limestone mining, which is the main component of cement preparation. India Cement has acquired land for the procurement of three million tonnes of cement per year in Madhya Pradesh.
As per reports, the debt on India Cements inclined to 1.43 per cent than last year.
The current calculated net debt for this year is Rs. 3,039 crore, which was Rs. 2,996 crore in 2021. The company has shown their intention in selling its land to clear out some of the debt.
Simultaneously, the company's net debt to equity ratio existed at 0.53 for both the 2021-22 fiscal years.
This year, India Cements acquired 184.53 hectares of limestone harbouring land at Pawaj Tensil in Madhya Pradesh's Panna district.
Furthermore, it has also attained a land of 68.55 acres in Gaisabad Tehsil of Damoh district. The land will be utilised to build up a cement plant.
On the other hand, UltraTech Cement would stimulate their capacity by 22.6 million tonnes per annum via its various projects including greenfield and brownfield for the fiscal year 2024-25.
Also, JSW Cement aims to enhance their capacity to 25 from 17 million tonnes per annum by the 2024 fiscal year.
Both the leading cement industries eyeing their growth towards inorganic development opportunities.
Although, not left with ample options due to the Adani-Holcim deal. Adani is now the second largest cement provider standing at 70 million tonnes per annum of cement making.