No final plan yet for Kesoram business restructuring_No final plan yet for Kesoram business restructuring

No final plan yet for Kesoram business restructuring

May 30, 2024

Kolkata: B K Birla’s flagship company Kesoram Industries is working on a restructuring plan to get out of its financial woes but is yet to take a ‘firm’ decision.

Kesoram Minister Gautam Ganguli told the Press Trust of India (PTI), “‘Committee level’ discussions are on for operational restructuring. No final decision has been taken yet.”

He was responding to Kesoram’s rumors that it may sell its Uttarakhand plant. This plant is the base of Berilla Tires’ manufacturing facilities in the country.

According to sources, the restructuring committee comprising two outside directors and vice-chairman Manjushree by Khaitan is expected to take a decision in the next two to three months.

The committee plans to review options such as a public offering, another paid-up capital increase, tire partially split and hiring a strategic partner.

The first 9 Interest burden for 2014-15 has widened to Rs 28.8.8. crore from Rs 28.8.8 crore starting from 25.8 months. The total interest burden in 2013-14 was Rs. 5.39 crore.

According to sources, Kesoram’s exclusive focus on tire business has led to deterioration of the company’s financial position.

The cement business is becoming increasingly important for the company’s profits.

Tire revenues in 2013-14 were 309.2 Cement revenues of Rs 17.02 crore Rs 1 crore. However, the current 99, however, the current 9. Tyre revenues for 2013-14 months year-on-year declined from Rs 156.9 139.3 crore to Rs 139.3. crore. Between April 2014 and 12 19 months, tire losses jumped to 19 months Profit of Rs 428 crore Profit of Rs 428 crore.

Nine months of 2014-15 (up to 12 Last year same period cement revenue 7.93 months) crore to Rs 93.2 crore.

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