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Sagar Cements advances on receiving nod to acquire assets of two mini hydel power plants

27 Feb 2018

Sagar Cements is currently trading at Rs. 987.90, up by 15.00 points or 1.54% from its previous closing of Rs. 972.90 on the BSE.

The scrip opened at Rs. 991.55 and has touched a high and low of Rs. 991.60 and Rs. 981.45 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1161.40 on 04-Jan-2018 and a 52 week low of Rs. 722.25 on 10-Mar-2017.

Last one week high and low of the scrip stood at Rs. 991.60 and Rs. 955.00 respectively. The current market cap of the company is Rs. 2,015.00 crore.

The promoters holding in the company stood at 50.03%, while Institutions and Non-Institutions held 18.45% and 31.52% respectively.

Sagar Cements has received an approval for acquisition of the entire assets of the two mini hydel power plants, one with a capacity of 4.3 MW located at Guntur Branch Canal (GBC), Narasaraopet, Guntur District and the other with a capacity of 4 MW located at Lock-in-sula (LIS), Atmakur, Kurnool, in the state of Andhra Pradesh, both belonging to Sagar Power, a related party, for a sum not more than Rs 26.90 crore. The board of directors at its meeting held on February 26, 20198 has approved for the same. The above approval is subject to the regulatory approvals as may be required to be obtained by Sagar Power for the sale of its above said units.

This proposed acquisition by the company will help in its efforts to meet its power requirements from renewable source at the lowest possible cost, through an optimum combination of various sources of energy particularly in the context of on-going expansion at its Bayyavaram grinding unit and in complying with the regulatory requirement relating to company’s obligation to meet a part of its overall power demand through renewal energy sources.

Sagar Cements is a prominent player in the field of cement in Andhra Pradesh for over 3 decades adopting progressive manufacturing practices, whether it relates to maintaining high standards of quality of its products or development of its highly valued human resources or the need to keep the pollution to the barest minimum.


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