The Associated Cement Companies, Bharat Forge, and Raymond

THE ASSOCIATED CEMENT COMPANIES Buoyant Outlook The Associated Cement Companies has not been able to reap fully the benefits of rising demand for cement from the expanding infrastructure and housing development in the country. Net profit of the company in 2002-03 declined by 20 per cent and stood at Rs 103.89 crore. This decline in profit was arrested by the divestments proceeds of its non-core businesses. The entire equity of 35 per cent in International Ferrites and 19 per cent equity in Bridgestone ACC India were divested during the year, which released an amount closed to Rs 90 crore.