“During the quarter, the company has made a payment towards subscription and acquisition of 26 per cent stake in the share capital of AMP Solar Systems Private Limited through a combination of equity shares and compulsory convertible debentures (CCD), with the total cost of acquisition of Rs 4.05 crore approximately. The purpose of such acquisition is to set up a solar power plant in Maharashtra under captive scheme for the company’s grinding unit at Jalgaon.
Orient Cement is a mid-sized (8.0 MT) cost-efficient player in the cement space. The company derives revenues largely from Maharashtra (50 per cent), Telangana, Karnataka and MP. A revival in these markets would help the company improve its performance. Key factors driving demand over FY21- 23E are strong rural demand, irrigation projects, housing projects in AP/Telangana and infrastructure projects like metro in Mumbai-Pune, Mumbai-Nagpur Expressway, etc.”
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SI Reporter. Business Standard 3 August 2021.