He later told reporters that the company had initiated steps in that direction by appointing consultants who have done a preliminary study of the existing operations. According to executive director AL Kapur, a clearer picture will emerge early next year.

At present, 74 per cent of the company's turnover of about Rs 972 crore comes from cement, while jute goods accounts for another 12.4 per cent. The balance comes from carbide & gases, linoleum, synthetics & cotton yarns and auto trim divisions.

Giving an overview of its cement business in 1997-98 and the outlook, Kapur said despite higher volumes of production and sales, revenues were affected by lower price realisation both in the domestic and export markets.

He estimated thecompany's loss on account of lower prices for cement at Rs 80 crore on despatches of 35 lakh tonnes of cement in 1997-98. The company had to absorb cost increases for inputs of about Rs 11 per bag in 1996-97 and Rs 12 per bag in 1997-98, he said.

Kapur expressed optimism that the current year will be better than last year owing to higher realisation on the company's products and prospects of further improvement in the second half of the year.

Mittal said the company's joint venture with the UK-based Redland for ready-mix concrete could not take off owing to changes in the ownership structure of Redland with Lafarge of France acquiring controlling interest recently. Kapur said the project had now become more viable with total excise exemption on ready-mix concrete against 30 per cent duty levied earlier.

The ready-mix concrete project will be taken up at the most opportune time once Lafarge agreed to participate in the Indian venture, he said.

At the AGM, shareholders passed all resolutions, includingone that will change the company's name to Birla Corporation.

More split-location lants on the anvil

Birla Corp plans more split location grinding units on the lines of the one that is expected to be commissioned in Rae Bareilly in Uttar Pradesh, executive director AL Kapur told shareholders on Wednesday. Fly ash for the project had been tied up with a nearby unit of National Thermal Power Corp.

Explaining the advantages of the grinding unit, Kapur said the company will be able to produce 3.7 lakh tonnes of additional cement by mixing fly ash with clinker brought from its Satna plant in Madhya Pradesh. The truck transporting clinker from Satna to Rae Bareilly would return to the cement factory with fly ash, he added.

Kapur said the use of fly ash, which was permitted up to 25 per cent by the BIS in cement manufacture, was increasing in India and the company also had plans to substitute 45 per cent clinker in Durgapur with fly ash and slag.

He said that the country produced almost 90 tonnes offly ash every year which would be gainfully used in manufacture of pozzolana cement.

More split location units on the anvil

Birla Corp plans more split location grinding units on the lines of the one that is expected to be commissioned in Rae Bareilly in Uttar Pradesh, executive director AL Kapur said. Fly ash for the project had been tied up with a nearby unit of National Thermal Power Corp. Explaining the advantages of the grinding unit, Kapur said the company will be able to produce 3.7 lakh tonnes of additional cement by mixing fly ash with clinker brought from its Satna plant in Madhya Pradesh.