Scripscan:Sanghi Industries Ltd
cmp:17
Code:526521
Story:Sanghi Industries Limited has emerged as a major cement player in western India over the last few years. Company’s 3 million tonnes per annum capacity plant in the Abdasa taluka of Kutch district in Gujarat is ranked as the second largest cement plant at one location in India. It is one of the top 3 players in Gujarat and is now increasing its presence in Maharashtra, Rajasthan and Madhya Pradesh (MP). Sanghi Industries Ltd is a company engaged in manufacturing and distribution of Cement in Western India. The company is having its cement plant of 3.0 MTPA capacity at Sanghipuram in Kutch District – Gujarat State.For the latest quarter ended December 31, 2011 the company has posted a net profit of Rs. 3.04 crore as against a loss of Rs. 21.64 crore for the same period of 2010. Similarly, there was a significant rise in sales to Rs. 227 crore for the quarter ended December 31, 2011 as against Rs. 155.60 in the same quarter in 2010. For the 15 months year ended June 30, 2011 company’s net sales were Rs. 900 crore and net loss was Rs. 29.55 crore.Company expects a significant improvement in its financials over the coming quarters as the operational efficiencies improve and the demand for cement picks up,especially in western India.As of September 30, 2011 the promoters holding stood at 51.06%, foreign institutional investors (FIIs) held 1.42%, foreign financial investors (FFIs) holding was 17.01% and 30.51% was held by others.
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