The Tamil Nadu-based Ramco Cements Ltd. is hoping to become the top cement company in South India by increasing its capacity to 20 million tonnes in 2020 from the present 12.5 million tonnes.
The company has invested Rs. 3500 crore in the capacity expansion of existing plants and setting up new ones. ``Our new plant in Odisha will be commissioned in October and another in Kurnool by March 2021,’’ said P R Venketrama Raja, chairman and MD of the company.
The company currently has strong presence in southern and eastern parts of the country with plants in Tami Nadu, Andhra Pradesh, West Bengal and the proposed one in Odisha. `` We are expecting a ten per cent rise in our turnover from Rs. 5000 crore in 2018-19,’’ said Raja, who was here for the launch of company’s new premium blended cement in Kerala.
A V Dharmakrishnan, CEO of the company said the company showed a 20% per cent growth last year. `` Our capacity utilisation is at 90% which is higher than that of the industry,’’ he said.
All the southern states except Tamil Nadu has shown a good sales growth for the company, pointed out Balaji K Moorthy, president (marketing). `` The political situation in Tamil Nadu has perhaps contributed to lower performance. In Kerala our sales were hit for four months after the flood last year,’’ he said. The company with 20% share is the market leader in Kerala now.
The officials, however, expressed hope that the market will pick up in the coming days.
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