Cement News tagged under: India Cements
India Cements post fourth-quarter loss28 May 2014, Published under Cement NewsIndia Cements has swung to a loss in the final quarter of the current fiscal compared to a profit last year on weak demand and overcapacity in southern markets. The Chennai-based company reported a net loss for the January-March 2014 period of about INR31 crore, compared with a profit of INR27 crore in the comparative period of the previous year. "The southern market suffers from the capacity overhung. This is not the case with north and east. This has hurt realisations," said N Srini... |
India Cements to merge with subsidiary27 May 2014, Published under Cement NewsIndia Cements is planning to merge with its subsidiary Trinetra Cement to consolidate its operations. N Srinivasan, vice chairman and managing director of India Cements, said the merger will bring the operations under one company. "We will get the benefit of profitability of Trinetra and improve the performance of India Cements," he said. Post-merger the total capacity of India Cements would go up to 15.8Mt. India Cement currently has a capacity of 15.5Mta from seven integrated plants i... |
India Cements approves scheme of amalgamation26 February 2014, Published under Cement NewsIndia Cement has informed the Bombay Stock Exchange that its board of directors has approved a scheme of amalgamation of its subsidiaries Trinetra Cement (TCL) and Trishul Concrete Products Ltd (TCPL), effective 1 January 2014, subject to approval from the relevant authorities. |
South Indian cement makers start exports to Myanmar03 February 2014, Published under Cement NewsIt has been locally reported that Chettinad Cements, The India Cements, Dalmia Cements and Ramco Cements have started shipping cement to Myanmar in the past few months. Depressed market conditions for the second year running have forced cement makers in south India to look at different export markets. "We started shipments to Myanmar last month of about 10,000 to 12,000t. It is not very remunerative, but when the chips are down, we have to do something to stay afloat," said Vipin Agar... |
India Cements gets MoE go-ahead to double capacity30 December 2013, Published under Cement NewsIndia Cement has received the go-ahead by an appraisal committee under the Ministry of Environment (MoE) to double its cement capacity and set up a 40MW power plant at its Dalavoi works in the southern Indian state of Tamil Nadu. Clinker capacity at the plant will expanded from 1.24Mt to 2.77Mt while cement capacity will be increased from 2.16Mt to 4.71Mt. The project is expected to take around two years to complete and upon completion, the additional output will serve the markets of Tami... |
India Cements explores export opportunities23 September 2013, Published under Cement NewsIndia Cements is looking at the possibility of resuming exports in a bid to improve capacity utilisation and benefit from the falling rupee, N Srinivasan, Vice-Chairman and Managing Director of the company, has indicated. Addressing shareholders at the company’s AGM last week, Mr Srinivasan said the cement producer was taking all the necessary measures at an operational level to improve results for the remainder of FY14. MR Srinivasan stated that cement producer is hoping to restart ex... |
Andhra Pradesh orders plant closure, India29 August 2013, Published under Cement NewsThe Andhra Pradesh Pollution Control Board (APPCB) has ordered the closure of India Cements Ltd factory at Yerraguntla for non-compliance of regulatory standards, resulting in the pollution of surrounding areas. It has also initiated action against four other factories in the district citing the same grounds. The closure order was issued in the interest of protecting public health and environment, in accordance with a decision taken at a hearing conducted by APPCB on 5 August 2013. The ICL... |
India Cements unit is ordered to close23 August 2013, Published under Cement NewsThe Pollution Control Board (PCB) has ordered the closure of India Cements Ltd's Yerraguntla plant and initiated action against four more cement factories in Kadapa district, for non-compliance of the Board directions and standards as well as causing severe air pollution in surrounding areas. The closure order was given in the interest of protecting public health and environment. The factory had not made an upgrade to its electrostatic precipitator to meet the PCB's emission standards. The... |
India Cements reports fifth consecutive quarterly drop in net profit14 August 2013, Published under Cement NewsIndia Cement has reported its fifth consecutive quarterly drop due to forex losses and a lower pricing environment. Net profit for the first quarter of the current fiscal declined by 72 per cent to INR16.82 crore. N Srinivasan, vice chairman and managing director, India Cements Ltd said: “The exchange translation charges due to unprecedented rupee depreciation impacted to the tune of INR27 crore resulting in net profit before tax of INR26 crore.” The company also saw a drop in prices duri... |
Squeeze tightens on Indian cement13 June 2013, Published under Cement NewsMuted volume growth and continuing cost pressures have put a further squeeze on the earnings of Indian cement companies with a disappointing 15 per cent YoY fall in EBITDA/t in Q4FY13. Among the large companies, only HeidelbergCement managed to report an improvement while UltraTech Cement, Dalmia Cement and Prism Cement all reported flat EBITDA/t during the quarter. Volumes declined one per cent YoY over the same period, significantly below the government’s recently revised 7.3 per cent in... |