JK Cement to acquire Saifco Cements’ 60% stake for Rs 174 crore

By
Ziraat Times
-

Srinagar: JK Cement, a leading cement producer in the country, has announced plans to acquire a 60% stake in Saifco Cements, marking its entry into the Jammu & Kashmir’s cement market. The acquisition, valued at Rs 174 crore, includes Saifco’s integrated manufacturing unit in Khunmoh, Srinagar.

Spread across 54 acres, Saifco’s facility boasts a clinker production capacity of 0.26 million tonnes per annum (MTPA) and a grinding capacity of 0.42 MTPA. Additionally, the company holds captive limestone reserves covering 144.25 hectares, with total minable reserves estimated at 129 million tonnes.

According to JK Cement, this acquisition will expand its footprint into the strategically important Jammu & Kashmir region, which holds significant potential for infrastructural growth. JK Cement currently has a manufacturing capacity of 24.2 MTPA, with a strong presence in Rajasthan, Uttar Pradesh, and Madhya Pradesh. For FY24, the company recorded a turnover of Rs 86.30 crore.

Raghavpat Singhania, Managing Director of JK Cement, highlighted the strategic importance of the deal, stating, “This acquisition is a significant step forward in accelerating JK Cement’s growth journey. We are committed to ensuring seamless integration, leveraging our combined expertise to serve our customers and the nation better.”

Madhavkrishna Singhania, Joint MD and CEO of JK Cement, emphasized the opportunity for growth in Kashmir. “Per capita cement consumption in Kashmir is approximately 168 kilograms, about 55% of the national average, indicating significant growth potential. With Saifco’s prime location and rich limestone reserves, we aim to significantly enhance our overall capacity,” he said.

Manzoor Ahmad Guna, Chairman of Saifco Cements, expressed optimism about the partnership. “We are excited to work with JK Cement to scale our operations and solidify our position as leading cement players in the Kashmir Valley. This alliance will empower us with the expertise and resources needed for continued success and growth in the region,” he said.

The acquisition is subject to regulatory approvals and conditions. JK Cement reported consolidated revenue of Rs 11,701.06 crore for the financial year ending March 2024.

RELATED ARTICLESMORE FROM AUTHOR

206 COMMENTS

  2. Your blog is a constant source of inspiration for me. Your passion for your subject matter is palpable, and it’s clear that you pour your heart and soul into every post. Keep up the incredible work!.

  3. Your blog is a breath of fresh air in the often stagnant world of online content. Your thoughtful analysis and insightful commentary never fail to leave a lasting impression. Thank you for sharing your wisdom with us..

  4. Wonderful beat I wish to apprentice while you amend your web site how could i subscribe for a blog web site The account aided me a acceptable deal I had been a little bit acquainted of this your broadcast provided bright clear idea.

  5. you are truly a just right webmaster The site loading speed is incredible It kind of feels that youre doing any distinctive trick In addition The contents are masterwork you have done a great activity in this matter.

  7. Simply wish to say your article is as amazing The clearness in your post is just nice and i could assume youre an expert on this subject Well with your permission let me to grab your feed to keep updated with forthcoming post Thanks a million and please carry on the gratifying work.

  8. I just wanted to express my gratitude for the valuable insights you provide through your blog. Your expertise shines through in every word, and I’m grateful for the opportunity to learn from you..

  9. Somebody essentially lend a hand to make significantly posts I might state That is the very first time I frequented your web page and up to now I surprised with the research you made to create this particular put up amazing Excellent job.

  10. I loved as much as you will receive carried out right here The sketch is attractive your authored material stylish nonetheless you command get got an impatience over that you wish be delivering the following unwell unquestionably come more formerly again since exactly the same nearly a lot often inside case you shield this hike.

  11. helloI like your writing very so much proportion we keep up a correspondence extra approximately your post on AOL I need an expert in this space to unravel my problem May be that is you Taking a look forward to see you.

  12. Your blog has quickly become my go-to source for reliable information and thought-provoking commentary. I’m constantly recommending it to friends and colleagues. Keep up the excellent work!.

  13. I simply could not go away your web site prior to suggesting that I really enjoyed the standard info a person supply on your guests Is going to be back incessantly to investigate crosscheck new posts.

  15. Your blog is a beacon of light in the often murky waters of online content. Your thoughtful analysis and insightful commentary never fail to leave a lasting impression. Keep up the amazing work!.

  16. Your blog is a testament to your dedication to your craft. Your commitment to excellence is evident in every aspect of your writing. Thank you for being such a positive influence in the online community..

  17. Your blog has quickly become my go-to source for reliable information and thought-provoking commentary. I’m constantly recommending it to friends and colleagues. Keep up the excellent work!.

  19. I loved as much as youll receive carried out right here The sketch is tasteful your authored material stylish nonetheless you command get bought an nervousness over that you wish be delivering the following unwell unquestionably come more formerly again since exactly the same nearly a lot often inside case you shield this hike.

  20. Your blog has become an indispensable resource for me. I’m always excited to see what new insights you have to offer. Thank you for consistently delivering top-notch content!.

  21. I just could not leave your web site before suggesting that I really enjoyed the standard information a person supply to your visitors Is gonna be again steadily in order to check up on new posts.

  23. you are in reality a just right webmaster The site loading velocity is incredible It seems that you are doing any unique trick In addition The contents are masterwork you have performed a wonderful task on this topic.

  25. Somebody essentially help to make significantly articles Id state This is the first time I frequented your web page and up to now I surprised with the research you made to make this actual post incredible Fantastic job.

  26. Your passion for your subject matter shines through in every post. It’s clear that you genuinely care about sharing knowledge and making a positive impact on your readers. Kudos to you!.

  27. Fantastic beat I would like to apprentice while you amend your web site how could i subscribe for a blog site The account helped me a acceptable deal I had been a little bit acquainted of this your broadcast offered bright clear concept.

  29. Usually I do not read article on blogs however I would like to say that this writeup very compelled me to take a look at and do it Your writing style has been amazed me Thank you very nice article.

  32. I loved as much as you will receive carried out right here The sketch is attractive your authored material stylish nonetheless you command get got an impatience over that you wish be delivering the following unwell unquestionably come more formerly again since exactly the same nearly a lot often inside case you shield this hike.

  33. Your writing is like a breath of fresh air in the often stale world of online content. Your unique perspective and engaging style set you apart from the crowd. Thank you for sharing your talents with us..

  35. Hello Neat post Theres an issue together with your site in internet explorer would check this IE still is the marketplace chief and a large element of other folks will leave out your magnificent writing due to this problem.

  36. Your writing is not only informative but also incredibly inspiring. You have a knack for sparking curiosity and encouraging critical thinking. Thank you for being such a positive influence!.

  37. Your blog is a beacon of light in the often murky waters of online content. Your thoughtful analysis and insightful commentary never fail to leave a lasting impression. Keep up the amazing work!.

  42. Your blog is a testament to your dedication to your craft. Your commitment to excellence is evident in every aspect of your writing. Thank you for being such a positive influence in the online community..

  43. Simply desire to say your article is as surprising The clearness in your post is simply excellent and i could assume you are an expert on this subject Fine with your permission let me to grab your feed to keep up to date with forthcoming post Thanks a million and please carry on the gratifying work.

  44. helloI like your writing very so much proportion we keep up a correspondence extra approximately your post on AOL I need an expert in this space to unravel my problem May be that is you Taking a look forward to see you.

  45. I loved as much as youll receive carried out right here The sketch is attractive your authored material stylish nonetheless you command get bought an nervousness over that you wish be delivering the following unwell unquestionably come more formerly again as exactly the same nearly a lot often inside case you shield this hike.

  47. Simply desire to say your article is as surprising The clearness in your post is simply excellent and i could assume you are an expert on this subject Fine with your permission let me to grab your feed to keep up to date with forthcoming post Thanks a million and please carry on the gratifying work.

  48. Your blog has quickly become one of my favorites. Your writing is both insightful and thought-provoking, and I always come away from your posts feeling inspired. Keep up the phenomenal work!.

  49. Thanks I have recently been looking for info about this subject for a while and yours is the greatest I have discovered so far However what in regards to the bottom line Are you certain in regards to the supply.

  50. Its like you read my mind You appear to know a lot about this like you wrote the book in it or something I think that you could do with some pics to drive the message home a little bit but instead of that this is fantastic blog An excellent read I will certainly be back.

  51. you are truly a just right webmaster The site loading speed is incredible It kind of feels that youre doing any distinctive trick In addition The contents are masterwork you have done a great activity in this matter.

  55. Your writing is a true testament to your expertise and dedication to your craft. I’m continually impressed by the depth of your knowledge and the clarity of your explanations. Keep up the phenomenal work!.

  56. I am not sure where youre getting your info but good topic I needs to spend some time learning much more or understanding more Thanks for magnificent info I was looking for this information for my mission.

  57. Your blog is a testament to your dedication to your craft. Your commitment to excellence is evident in every aspect of your writing. Thank you for being such a positive influence in the online community..

  59. Your blog is a constant source of inspiration for me. Your passion for your subject matter is palpable, and it’s clear that you pour your heart and soul into every post. Keep up the incredible work!.

  60. Your blog is a breath of fresh air in the often stagnant world of online content. Your thoughtful analysis and insightful commentary never fail to leave a lasting impression. Thank you for sharing your wisdom with us..

  62. Your blog is a constant source of inspiration for me. Your passion for your subject matter shines through in every post, and it’s clear that you genuinely care about making a positive impact on your readers..

  63. certainly like your website but you need to take a look at the spelling on quite a few of your posts Many of them are rife with spelling problems and I find it very troublesome to inform the reality nevertheless I will definitely come back again.

  64. Magnificent beat I would like to apprentice while you amend your site how can i subscribe for a blog web site The account helped me a acceptable deal I had been a little bit acquainted of this your broadcast offered bright clear idea.

  65. you are truly a just right webmaster The site loading speed is incredible It kind of feels that youre doing any distinctive trick In addition The contents are masterwork you have done a great activity in this matter.

  67. hiI like your writing so much share we be in contact more approximately your article on AOL I need a specialist in this area to resolve my problem Maybe that is you Looking ahead to see you.

  69. Simply desire to say your article is as surprising The clearness in your post is simply excellent and i could assume you are an expert on this subject Fine with your permission let me to grab your feed to keep up to date with forthcoming post Thanks a million and please carry on the gratifying work.

  70. of course like your website but you have to check the spelling on several of your posts A number of them are rife with spelling issues and I in finding it very troublesome to inform the reality on the other hand I will certainly come back again.

  71. I just could not depart your web site prior to suggesting that I really loved the usual info an individual supply in your visitors Is gonna be back regularly to check up on new posts.

  76. What i dont understood is in reality how youre now not really a lot more smartlyfavored than you might be now Youre very intelligent You understand therefore significantly in terms of this topic produced me personally believe it from a lot of numerous angles Its like women and men are not interested except it is one thing to accomplish with Woman gaga Your own stuffs outstanding Always care for it up.

  77. Hi Neat post Theres an issue together with your web site in internet explorer may test this IE still is the marketplace chief and a good component of people will pass over your fantastic writing due to this problem.

  82. Hi Neat post Theres an issue together with your web site in internet explorer may test this IE still is the marketplace chief and a good component of people will pass over your fantastic writing due to this problem.

  87. Your writing is a true testament to your expertise and dedication to your craft. I’m continually impressed by the depth of your knowledge and the clarity of your explanations. Keep up the phenomenal work!.

  88. Your writing is a true testament to your expertise and dedication to your craft. I’m continually impressed by the depth of your knowledge and the clarity of your explanations. Keep up the phenomenal work!.

LEAVE A REPLY

Please enter your comment!
Please enter your name here