Shree Cement has completed the acquisition of Union Cement Company, UAE (UCC) on 11 July 2018. The acquisition was made through Wholly Owned Step-down Subsidiary Company viz. Shree International Holding incorporated in UAE, which has acquired 97.61% equity stake in UCC.

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Shree Cement has commissioned Cement Mill having capacity of 3.00 MTPA at Kodla, Karnataka on 28 June, 2018.

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Shree Cement announced that the Board of Directors of the Company at its meeting held on 28 April 2018, inter alia have recommended the dividend of Rs.30 per equity share (i.e.300%), subject to the approval of the shareholders.

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Net profit of Shree Cement rose 31.11% to Rs 399.24 crore in the quarter ended March 2018 as against Rs 304.51 crore during the previous quarter ended March 2017. Sales rose 15.25% to Rs 2811.08 crore in the quarter ended March 2018 as against Rs 2439.02 crore during the previous quarter ended March 2017.

For the full year,net profit rose 3.37% to Rs 1384.18 crore in the year ended March 2018 as against Rs 1339.11 crore during the previous year ended March 2017. Sales rose 14.41% to Rs 9833.10 crore in the year ended March 2018 as against Rs 8594.30 crore during the previous year ended March 2017.

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