Andhra Cement Limited (Andhra Cements Ltd.) is a subsidiary of Sagar Cements. The company announced that it has commissioned a new six-stage preheater at its Sri Durga Cement Plant (Sri Durga Cement Works) in Andhra Pradesh.
The upgrade increased the plant's clinker production capacity by 39.39% to 2.3 million tons per year. The preheater has started operation on October 23, although the mill works are still ongoing. After the mill upgrade is completed, the milling capacity will increase by 64.84% from 1.82 million tons per year to 3 million tons per year. Losses widened
even as the company reported higher revenue in the second quarter and first half of the fiscal year. In the second quarter, operating income reached Rs 77.85 billion, up from Rs 54.86 billion in the same period last year, but the loss increased to Rs 419.20 billion from Rs 34.88 billion in the same period last year.
To improve its financial position, the company plans to raise up to 210 million rupees ( $2.39 million) by issuing new shares to existing shareholders. In addition, the company plans to sell some idle land and hopes to complete these transactions by the end of this fiscal year.
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