Shares of The Ramco Cements Ltd ended flat on 4th September after touching a day’s high of Rs 1,098, despite the company announcing the commissioning of an 8 MW waste heat recovery system at its Ramasamy Raja Nagar cement plant.

With the new system, waste heat power generation at the Ramasamy Raja Nagar plant has increased from 2 MW to 10 MW. Overall, Ramco Cements’ waste heat power generation capacity has risen from 45.15 MW to 53.15 MW.

Cement stocks, including Ramco Cements, were also in focus after the GST Council approved reducing the GST rate on cement from 28% to 18%, effective from 22nd September.

In Q1, Ramco Cements posted a net profit of Rs 84.5 crore, up from Rs 36.5 crore last year. Revenue fell 0.9% to Rs 2,074 crore from Rs 2,093 crore, while EBITDA rose 24.5% to Rs 397.9 crore from Rs 319.6 crore. Margins improved to 19.1% from 15.3% a year ago.

At 3:30 PM, the shares of Ramco Cements ended 0.54% higher at Rs 1,090.30 on NSE.

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