Kumar to take over Kesoram Industries

The 88-year old B K Birla, while addressing shareholders at the 90th annual general  meeting (AGM) of the company said that Kumar Managalam Birla “will take charge of this company after me,” adding, that he had him to takeover in the next two or three years.

Further, his daughter said that she would continue to remain on the board, while all the decisions will be made by B K Birla and Kumar Mangalam.

Kesoram is engaged in manufacturing of tyres, tubes, flaps, cement, viscose filament,  rayon yarn, etc.
Meanwhile, the firm plans to invest Rs 2,000 crore on capacity augmentation of its cement and tyre plants over the next 15 months.

“Out of this, Vasavadatta cement plant will receive Rs 750 crore to increase its capacity by 1.65 million tonnes,” Chairman B K Birla said.

At present, Kesoram has a capacity to produce 7.25 million tonne of cement annually. Around Rs 800 crore would go towards increasing tyre capacity of its Balasore unit, while the remaining Rs 450 crore will be spent on other plants.