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Kesoram Industries aims at scaling up operations

2023-06-16

Kesoram Industries Ltd, a maker of cement, is still fighting to get out of trouble and plans to expand operations and refinance its expensive debt in order to turn a profit.

As part of its plan to raise money by selling non-core assets, the B K Birla Group company, which has since demerged its tyre and rayon businesses to focus solely on cement, was looking to sell 21 acres of land to Hindustan Heavy Chemicals in West Bengal's Khardaha for 600 million this fiscal.

It reported a net loss of 1150 million in FY'23 and 1300 million in FY'22.

Speaking on the sidelines of the 104th AGM, Kesoram's full-time director and CEO P Radhakrishnan stated that the firm was focusing its efforts on scaling up operations and that it planned to sell 8 million tonnes of cement in the current fiscal year, up from 7.02 million tonnes in FY'23.