India Cements Turnaround Under Birlas

Change is the only constant. There are no two views on that. But in this instance, it has brought good tidings to the organisation as a whole. How else could one interpret the latest development? The India Cements (ICL), which has come under the Birla-owned UltraTech Cement, has said that it has successfully completed and stabilised a de-bottlenecking initiative at Banswara Cement Works, Rajasthan. This has resulted in an increased production capacity of 0.3 MTPA. This initiative will result in the company’s grey cement manufacturing capacity increasing to 14.75 MTPA. In 2009, India Cements acquired controlling interest in a listed company — Indo-Zinc Ltd — which later became Trinetra Cement Ltd and a subsidiary of India Cements. In January 2011, Trinetra commissioned its green-field integrated cement plant known as Mahi Cement Plant at Banswara in Rajasthan with a capacity of 1.5 MTPA at a cost of Rs 600 crore. In April 2017, NCLT sanctioned the scheme of amalgamation of Trinetra Cement with India Cements. This resulted in bringing all the cement assets under one roof. Commissioned in January 2011, Banswara Cement Plant was originally set up by the company’s subsidiary Trinetra Cement (merged in 2017) in Banswara district of Rajasthan with a capacity of 1.5 MTPA. With Banswara Plant, India Cements successfully entered the northern and western by launching its popular brand Coromandel Cement riding on the popularity of IPL team CSK and iconic captain MS Dhoni, who is popularly known as Mahi. Well, the turnaround is really happening for India Cements.