The company acquired the plant for Rs 410 crore and further committed to invest Rs 929 crore for the revival, modernisation, expansion and installing green manufacturing equipment viz waste heat recovery systems, solar power, green fuel systems and robotic labs for enhanced quality monitoring. Approximately Rs 900 crore is spent/committed out of a total of R 1339 crore.

The plant has been turned around in a record time of 15 months from its acquisition under the Insolvency and Bankruptcy Code (IBC) process.

Earlier, Dalmia Bharat had unveiled its long-term growth and investment strategy to expand its installed cement capacity across the nation to 110-130 million tonnes per annum by 2031. The growth strategy is being executed through a mix of organic & inorganic opportunities with an inclination towards a more planned and cost-effective organic route.

Puneet Dalmia, managing director, Dalmia Bharat, said, "We have hit the road running this year by aggressively following through with our growth strategy nationally. For the western market, in particular, we continue to take our responsibility as a corporate leader seriously by creating a progressive and sustainable ecosystem. Moving forward, and in partnership with the great state of Maharashtra, we look forward to focusing on our ambitious business, social and sustainability goals."

DCBL is a leading player in the cement manufacturing segment. With a growing capacity, currently pegged at 35.9 MnT, Dalmia Cement is the the fourth-largest cement manufacturing group in India by installed capacity. Spread across ten states and fourteen manufacturing units, the company is a category leader in super-speciality cement used for oil well, railway sleepers and airstrips and is the country's largest producer of Portland Slag Cement (PSC).

On a consolidated basis, net profit of Dalmia Bharat declined 12.07% to Rs 204 crore on 11.41% rise in net sales to Rs 2577 crore in Q2 September 2021 over Q2 September 2020.

Shares of Dalmia Bharat were up 0.33% at Rs 2012.05.