Nuvoco Vistas Corp secures three limestone blocks in Rajasthan

The results were announced post the conclusion of recently concluded auctions held by the Government of Rajasthan. These auctions were conducted via the MSTC e-auction portal.

The auction saw participation from major cement players and other industries.

The blocks cover 41.37 hectares, have limestone resources estimated at 28.43 million tons, and is located near the company's cement manufacturing facility in Nimbol, Rajasthan, which provides a strategic advantage.

'These blocks were secured at a highly competitive price compared to other cement players. By having access to these deposits, the company can ensure the long-term sustainability of its operations through increased limestone availability,' Nuvoco Vistas said in a statement.

Jayakumar Krishnaswamy, managing director, Nuvoco Vistas Corp., said: 'By acquiring these limestone blocks, the company ensures access to high-quality resources to strengthen its operations.

This strategic move will boost our production capabilities, allowing us to more effectively meet the increasing demands of the cement industry.'

Nuvoco Vistas Corporation (NVC) is engaged in the business of manufacturing and sale of cement and ready mix (RMX) along with trading and manufacturing of aggregates. The company caters mainly to the domestic market.

The company's net profit declined 80.36% to Rs 2.84 crore as sales fell by 6.02% to Rs 2636.48 crore in Q1 FY25 over Q1 FY24.

The scrip rose 0.16% to currently trade at Rs 351.35 on the BSE.