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Shree Cements Ltd. — Capital/Financing Update 2023
Jul 26, 2023
62875_rns_2023-07-26_78f7e4f8-08ad-49e7-ade8-34fbd9dcd4a6.pdf
Capital/Financing Update
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SCL/BWR/2023-24 26[th] July, 2023
National Stock Exchange of India Limited, Bombay Stock Exchange Ltd. Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra – Kurla Complex, Bandra (East) 25th Floor, Dalal Street, MUMBAI – 400 051 MUMBAI – 400 023 SCRIP CODE: SHREECEM EQ SCRIP CODE 500387
Re:- Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015
Dear Sirs,
The Board of Directors of the Company in its meeting held today (i.e. 26[th] July, 2023) approved investment for increasing capacity. In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, we disclose herewith the following information:
| Proposed capacity addition | Clinker manufacturing plant of 3.65million tonnes at Pali, Rajasthanand cement capacity of 6.0 milliontonnes in Pali, Rajasthan and Etah,Uttar Pradesh. | Clinker manufacturing plant of3.65 million tonnes at Kodla andcement capacity of 6.0 milliontonnes at Kodla and Bangalorein Karnataka. |
|---|---|---|
| Periodwithinwhichtheproposed capacity is to beadded | Quarter ending March 2025 | Quarter ending March 2025 |
| Investmentrequired | Rs. 7000 Crores | |
| Mode of financing | Internal Accruals &Debt | |
| Rationale | BusinessExpansion |
Note: Timeline, Investments required and Mode of financing Indicated above are based on management’s estimate and are subject to change. The capacity mentioned is subject to receipt of necessary approvals and permissions.
The existing cement capacity of the Company (including that of Wholly Owned Subsidiary) is 49.90 Million Ton Per Annum (MTPA) in India. During the year 2022-23, the utilization rate was 70%.
The Board of Directors of the Company has also decided to make strategic diversification in Ready Mix Concrete (RMC) business commencing with plan to set-up 5 RMC Units by this financial year.
Kindly take the same on record.
Thanking you,
Yours faithfully, For SHREE CEMENT LIMITED
SHYAM SUNDER Digitally signed by SHYAM SUNDER KHANDELWAL KHANDELWAL Date: 2023.07.26 11:19:22 +05'30' ( S.S. KHANDELWAL ) COMPANY SECRETARY
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