The board of directors of Dalmia Cement (Bharat) (DCBL), a wholly owned subsidiary of Dalmia Bharat, has approved the appointment of Puneet Yadu Dalmia as Managing Director & CEO for a period of five years with effect from December 8, 2023, the company informed in a BSE filing.
The board also approved the appointment of Mahendra Singhi as Strategic Advisor to Managing Director & CEO with effect from December 9, 2023. Singhi will also act as non-executive non- independent director of DCBL.
Dalmia Bharat had reported an increase of 161.70 % in its consolidated net profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 123 crore in Q2 FY24 as against Rs 47 crore it recorded in the corresponding quarter of the previous fiscal.
In October 2023, the board of Dalmia Cement (Bharat) had approved the proposal to increase cement grinding capacity by 0.5 MTPA at Rohtas Cement Works, Bihar. Plants existing capacity is at 43.7 MTPA and the proposed capacity will be added by FY25. The company had announced an investment of Rs 91 crore for the expansion.