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Geojit Research Report
Sagar Cements Ltd., established in 1985, is a south India based cement manufacturer with a capacity of 8.25 million tonne (South-5.75 million tonne, Central-1 million tonne, East1.5 million tonne).
Sagar Cements has total captive power capacity of 66.85 megawatt. Industry capacity utlisation to reach back to pre-Covid levels in FY23E, given normalisation of the economy and government of India's strong focus on housing and infra.
Sagar Cements' capacity has grown at 10% compound annual growth rate and reached 8.25 million tonne, and targets ~10 million tonne by FY25.
Revenue/profit after tax grew at a CAGR of 11%/28% during last five years. To diversify footprint, the company has recently added capacity in East and Central regions through acquisitions.
Further, Sagar Cements has recently raised Rs 5 billion in debt and Rs 3.5 billion as equity for a potential acquisition (Andhra Cements-2.6 million tonnes).
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