#INDIACEM - To be tracked for Swing opportunity

The India Cements Ltd didn't have a great quarter as though there were an increase in Sales but the increase in costcost of production could not be passed on to the customers.

Mr. Srinivasan said ICL had a basket of plants of various vintage and technology with varying operating parameters of power and fuel and the impact of cost production due to coal price and diesel was much higher compared to some of the peers.

“When there was sudden sand bagging, we decided to sell our subsidiary Springway Mining Pvt. Ltd. to JSW Cement for ₹603 crore to address our liquidity position. We are in a better position now and FY24 will be much better,” he said.

Source: THE HINDU BUREAU
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