Dalmia Cement (Bharat) Limited (DCBL), a leading Indian cement major and a subsidiary of Dalmia Bharat Limited, announced the commencement of commercial production at its Murli Plant in Chandrapur district, Maharashtra and thereby adding 2.9 MnT cement capacity to the company's overall installed capacity. The company's installed cement capacity has now grown to 35.9 MnT. The company acquired the plant for INR 410 crores and further committed to invest INR 929 Crores for the revival, modernisation, expansion and installing green manufacturing equipment viz Waste Heat Recovery Systems, Solar Power, Green Fuel systems and Robotic Labs for enhanced Quality monitoring. Approx. INR 900 crores is spent/committed out of a total of INR 1339 crores. The Plant has been turned around in a record time of 15 months from its acquisition under the Insolvency and Bankruptcy Code (IBC) process.
Earlier, Dalmia Bharat had unveiled its long-term growth and investment strategy to expand its installed cement capacity across the nation to 110-130 million tonnes per annum by 2031. The growth strategy is being executed through a mix of organic & inorganic opportunities with an inclination towards a more planned and cost-effective organic route.
Commenting on the company's growth and expansion plans, Mr. Puneet Dalmia, Managing Director, Dalmia Bharat Limited, said, "We have hit the road running this year by aggressively following through with our growth strategy nationally. For the western market, in particular, we continue to take our responsibility as a corporate leader seriously by creating a progressive and sustainable ecosystem. Moving forward, and in partnership with the great state of Maharashtra, we look forward to focusing on our ambitious business, social and sustainability goals."
In line with its business philosophy - Clean and Green is profitable and sustainable - Dalmia Bharat was able to reduce its carbon footprint by 22 per cent in the last decade while growing three times to double its profitability. Today, the company is one of the lowest carbon footprints globally and committed to becoming carbon negative by 2040.
Discussing Murli plant's commercialization commencement, Mr. Hakimuddin Ali, Executive Director, DCBL, "We are grateful to the state government and the people of Chandrapur for their continuous support and for enabling us to reinvigorate operations at the plant. This capacity addition will empower us to produce and meet growing demand for India's biggest cement market, Maharashtra, especially in the Vidarbha, Marathwada and Khandesh regions."
While the development is in line with Dalmia Bharat's commitment towards fostering sustainable growth and enhancing production, it also acts as a catalyst in creating job opportunities in the region. The additional capacity will ensure the company is able to offer a wider product range to meet increasing cement demand across the nation.
Shares of Dalmia Bharat Limited was last trading in BSE at Rs. 2012.05 as compared to the previous close of Rs. 2005.40. The total number of shares traded during the day was 4228 in over 696 trades.
The stock hit an intraday high of Rs. 2029.00 and intraday low of 1985.00. The net turnover during the day was Rs. 8477904.00.