Cement News tagged under: Orient Cement
Orient Cement sees net profit jump 64% YoY06 February 2024, Published under Cement NewsIndia's Orient Cement , part of the CK Birla Group , has reported revenue from operations of INR7513m (US$90.45m) in the quarter ended 31 December 2023 (3QFY23-24). This marks a 2.6 per cent increase on the INR7322.9m seen in the same period a year earlier. Over the same timeframe, consolidated net profit advanced to INR449.9m, up 63.5 per cent from the INR275.1m recorded in the 3QFY22-23. Total expenses, meanwhile, declined one per cent to INR6814.4m over the same period. Total income... |
Orient Cement sees revenue expand 17% YoY13 November 2023, Published under Cement NewsOrient Cement, part of the CK Birla Group , has reported total income of INR7222.4m (US$86.6m) in the 2QFY24, ended 30 September 2023. This marks a 16.5 per cent increase on the same period a year earlier. Net profit in the September 2023 quarter came in at INR246.2m, compared to a net loss of INR94.9m in the 2QFY23. The quarter also saw the company approve a reduction in the solar power plant capacity for its Jalgaon plant from 5.5MWdc to 3.7MWdc to help maximise return on investme... |
Orient Cement welcomes new company secretary04 September 2023, Published under Cement NewsOrient Cement , part of the CK Birla Group , has announced the appointment of Diksha Singh as company secretary and compliance officer with effect from 2 September 2023. She will take over the role from Nidhi Bisaria, who resigned effective from 1 September 2023. Ms Singh is a science and law graduate, and is an associate member of the Institute of Company Secretaries of India. She has more than 14 years’ experience working for listed companies. Prior to joining Orient Cement, she he... |
Orient Cement reports profit dip in June quarter03 August 2023, Published under Cement NewsOrient Cement Ltd , part of the CK Birla Group , has reported revenue from operations of INR8251.8m (US$99.8m) in the quarter ended 30 June 2023, up from INR7139.3m in the same period a year earlier. Net profit for the three-month period came in at INR370.3m, down slightly on the INR374.1m seen in the June quarter of 2022. Total expenses over the same timeframe advanced from INR6560.5m to INR7723.9m, driven primarily by cost of materials consumed, and power and fuel. Earnings per share ... |
Orient Cement enters agreement to acquire stake in Ardeur Renewables25 July 2023, Published under Cement NewsIndia-based Orient Cement has entered into a share subscription and shareholders’ agreement with Ardeur Renewables and Cleantech Solar India on 21 July 2023 for the acquisition of a 28.52 per cent stake in Ardeur Renewables’ share capital. It will build two solar power plants with a capacity of 16MWdc in Karnataka and 5.5MWdc in Maharashtra under the Captive Scheme. With the INR95m acquisition, Orient Cement expects to meet its green energy requirement, optimise its energy cost and compl... |
Orient Cement sees revenue advance in FY22-2305 July 2023, Published under Cement NewsOrient Cement , part of the CK Birla Group, has reported total income of INR29,375.5m (US$358.2m) in its FY22-23 annual report (FY21-22:INR27,350m). EBITDA over the same period came in at INR3765.6m (FY21-22:INR6006m), with an EBITDA margin of 12.8 per cent, while profit after tax stood at INR1228.2m (FY21-22:INR2633m). Earnings per share over the 12 months were reported at INR5.99. According to Chandrakant Birla, chairman, Orient Cement, “The government’s focus on infrastructure develo... |
Orient Cement begins Devapur expansion09 May 2023, Published under Cement NewsOrient Cement (part of the CK Birla Group ) has laid the foundation stone for the expansion of its integrated cement plant in Devapur , Adilabad District, Telangana. The INR20,000m (US$243.6m) project will increase the plant’s cement production capacity from 5Mta to 8Mta. With the expansion expected to provide 4000 new direct and indirect job opportunities, the local Telangana government is also setting up a skill development centre near Devapur, offering training to local young peo... |
Orient Cement terminates grinding unit MoU24 February 2023, Published under Cement NewsOrient Cement has terminated a memorandum of understanding (MoU) with Adani Power Maharashtra Ltd (APML) to set up a grinding unit in Maharashtra, India. According to The Hindu, the MoU was signed in September 2021. Orient Cement said APML has requested it not to pursue the venture further as “they are not able to obtain the required MIDC clearances for sub-leasing the parcel of land required for the cement grinding unit due to some legal issues.” Also, “the timelines agreed upon as ... |
Orient Cement sees revenue improve01 February 2023, Published under Cement NewsIndia-based Orient Cement Ltd has reported unaudited revenue from operations of INR7322.9m (US$89.6m) in the quarter ended 31 December 2022. This compares to INR6152.8m in the previous quarter and INR6175.3m in the same period a year earlier. Net profit for the quarter ended 31 December 2022 stood at INR275.2m, versus a loss of INR94.9m in the previous quarter and a profit of INR436.7m in the same period in 2021. Power and fuel costs advanced from INR1399.1m in the quarter ended 31 De... |
Orient Cement Ltd reports loss as costs escalate10 November 2022, Published under Cement NewsOrient Cement Ltd has posted revenue from operations of INR6152m (US$75.5m) in the quarter ended 30 September 2022. This is down from INR7139m in the previous year but up from the INR6161m posted in the same period a year earlier. Meanwhile, the company reported a net profit of INR568m in the quarter ended 30 September 2021, which fell to INR374m in the quarter ended 30 June 2022, and finally a loss of INR94.9m in the three months up to 30 September 2022. Basic earnings per share have c... |