JK Cements Books Rs 26.27 Cr Loss in 2014-15

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SRINAGAR: State owned J&K Cements has booked a loss of Rs 26.27 crore in 2014-15 and the Industries Ministry hopes that situation will improve in 2015-16 accounts of which are under compilation.

The factory that government set up in 1978 with a paid up capital of Rs 49.85 crore started with 600 ton a day plan at Khrew.

In 2006, the corporation added another plant of the same capac­ity. But the new plant could not work with as was desired. The company’s losses jumped as its incomes slowed down. The main problem was with the new asset.

Informed sources said the com­pany’s sale turnover in 2014-15 was Rs 84.93 crore and it booked a loss of Rs 26.27 crore. No de­tails are available about its sales in 2015-16. The company has set a sales target of Rs 150 crore for the current fiscal. It intends to use the recently started grind­ing cum packing plant at IGC Samba to improve its sales. The unit has 300 tons a day capacity.

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