"Company is trying to export cement taking advantage of rupee depreciation. It is operating at 70 (percent) capacity and exports will help in improving it,” India Cements Ltd Vice-Chairman and Managing Director N Srinivasan said at the company's 67th Annual General Meeting.

Last fiscal, the company used forex of Rs 34.97 crore against (Rs 35.16 crore registered during the previous fiscal) and earned Rs 8.24 crore (against Rs 2.54 crore registered during previous fiscal).
    
Earlier, the city-based company was exporting to Sri Lanka and other neighbouring markets.
    
In the backdrop of difficult economic situation and sluggish demand for cement, he said, "The company's performance during 2012-13 can be registered satisfactory."
    
Cement production grew by five per cent to 99.40 lakh tons and clinker production rose by 6.6 per cent to 76.73 lakh tons, improving capacity utilization to 71 percent from 67 per cent in 2011-12, he said.

"The performance of the company would have been better but for the worsening of the power situation in Andhra Pradesh which declared a whopping 12 days a month of power holiday in addition to switching off power during peak hours on daily basis," he said.

Observing that the company was taking all measures at operational level to improve the results during the remaining part of the current financial year, he said, "Widespread rainfall and improved farm output are expected to revive rural demand and construction (activities)."

(Agencies)

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