The Hindu Business Line : ACC posts 11 pc rise in cement sales

ASSOCIATED Cement Companies Ltd (ACC) has ended the last fiscal (April-March 2003-04) with cement sales exceeding 15 million tonnes, registering a growth close to 11 per cent.

This is the first time ACC has crossed 15 mt sales, and with this, the company's market share has increased to 13 per cent, said a company official.

During the fiscal, the company despatched a total volume of 15.36 mt of cement, compared with 13.88 mt in the preceding year, a growth of 10.7 per cent.

Cement production stood at 15.34 million tonnes (13.89 million tonnes). Output also included that of the Idcol Cement Ltd in Orissa, which was acquired by ACC from Industrial Development Corporation of Orissa Ltd at cost of Rs 176 crore.

According to company officials, the readymade cement business showed significant improvement last year. ACC is opening its RMC unit in Goa on Monday.

Meanwhile, the Gujarat Ambuja group, which has a 14 per cent stake in ACC, has reported an 11.4 per cent growth in cement despatches at 13.24 million tonnes. Aditya Birla group's Grasim has reported a 6.49 per cent growth in cement despatches at 12.2 million tonnes.