Motilal Oswal
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Motilal Oswal

Sanghi Industries shares fall over 2% as Q3 earnings fail to cheer investors

Updated : February 14, 2019 02:35 PM IST

After reporting a dismal set of Q3 numbers, cement maker, Sanghi Industries, on Thursday said annual maintenance shutdown in December and January affected the topline of the company in the current quarter.

At 2.26 PM IST, the shares of Sanghi Industries were trading at Rs 51.00, down 2.39 percent on BSE Sensex.

In an interview to CNBC-TV18, Bina Engineer, director, said the cement prices now are five percent higher than third quarter average.

"We have done about 20 lakh tonne of volume by now. Therefore, we expect that we should be able to do around 27 lakh plus volume by the end of the year,” Engineer said.

Talking on the expansion project, she said, "It's very much on track. All type of machinery and equipment have been ordered. About 50 percent of the funds have already been committed in the first year."
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