Birla Corporation Limited, flagship company of M P Birla group, will consolidate its operations in the cement business while also looking at diversification in a meaningful way. Chairman of Birla Corporation Harsh V Lodha told shareholders at the company’s AGM here that the company is a major player in the cement industry in central India with a total capacity of 20 million tonnes.
The company plans to raise the production capacity to 27.6 million tonne by 2028-29, by way of new grinding units and clinkerisation. The proposed capital expenditure for this would be `4335 crore, Lodha told the shareholders. He also said the allocation of coal blocks to the company is at various stages of approval. Lodha also said that regarding diversification of the businesses, the company is exploring various avenues.
Referring to the jute business of Birla Corporation, Lodha said efforts are being made to raise its revenue. The jute business is being given due focus as the Birla Jute mill was the first one by an Indian family in the country. Birla Corporation is also focusing on renewable energy and its consumption is increasing. MD&CEO of Birla Corporation Sandip Ghose said that the company is aiming to protect its market share in terms of volume and value.
Central India is a major market for the company, he said. “The company wants to consolidate its strength in the core areas of operations, which is cement. This will give better price realisation, he said. Birla Corporation is also looking at diversification in a meaningful way by moving up the value chain.
