Cement News tagged under: UltraTech Cement
India: delayed asset sale could help Jaiprakash Associates23 August 2013, Published under Cement NewsTo overturn its spiralling debts, Jaiprakash Associates (JA) has been actively seeking to sell off its 4.8Mta cement plant in Gujarat. The release of such assets is seen as a necessity to aid the company's profitability and its stock rating. The company's current net debt levels are estimated at INR602.8bn (US$9.33bn) and JA aims to reduce this amount by INR60bn-70bn (US$9.3bn-10.85bn) The company is said to be in talks with UltraTech Cement over the Gujarat factory but the delay in closin... |
UltraTech first quarter hit by building slowdown30 July 2013, Published under Cement NewsUltraTech Cement, India's largest cement producer, posted a 13.5 per cent YoY decline in its first quarter (April-June 2013), due to slowdown in home building and infrastructure projects. The Aditya Birla group company reported standalone profit of INR6.73bn (US$112.3m) for the April-June quarter. Net sales also declined 2.2 per cent to INR49.58bn. Going forward, Kumar Mangalam Birla, chairman of the group, said the business outlook remained challenging and the company has downwardly re... |
UltraTech Cement commissions Karnataka clinker plant, India11 July 2013, Published under Cement NewsUltraTech Cement said it has commissioned its 3.3Mta clinker plant at Malkhed in Karnataka, taking capacity from 53.9Mta to 57.2Mta. The company continues to invest in new capacity to consolidate its position as India's cement market leader. In its annual report for 2012-13 (Apr-Mar), UltraTech Cement said it has already spent INR43bn of the INR114bn capital expenditure plan. By 2015 the company targets a capacity of 64.45Mta. Latest local news reports also state that the company is ... |
India: Jaypee Cement eyes acquisition24 June 2013, Published under Cement NewsJaypee Cement (JC), the country’s third-largest producer (Jaiprakash Associates/Japyee Group), is looking at an acquisition, having recently dumped its plan to sell off its Gujarat plant. “In the near future, the group plans to expand its cement capacities via acquisitions and greenfield additions to maximise economies of scale and build on vision to focus on large-size plants from inception,” said Ashutosh Kumar, JC’s joint president of marketing. Before that, though, JC would be conce... |
UltraTech to take tribunal plea to Supreme Court on Monday07 June 2013, Published under Cement NewsIndia’s Supreme Court will hear UltraTech Cement's plea challenging an order issued by the Competition Appellate’s Tribunal (COMPACT) on 17 May 2013 instructing the cement companies charged with cartel practices to pay 10 per cent of the penalty imposed by the Competition Commission of India (CCI) last year. Following an appeal from several cement companies against the CCI’s record fine of INR6.3bn issued in June 2012, the tribunal ordered the cement producers to pay the 10 per cent withi... |
UltraTech in talks with JP Associates for Gujarat assets, India24 April 2013, Published under Cement NewsUltraTech Cement is reportedly closing in on a deal to acquire the cement assets of Jaiprakash Associates in the state of Gujarat, India, according to local press reports. "The deal is expected to be sealed before May. The valuation and other critical aspects, such as the indemnity amount, are more or less finalised. We are waiting for one more approval," reported The Economic Times quoting two persons with direct knowledge of the development. The report added that the sale of the cement... |
UltraTech Cement quarterly net profit falls 16.3%, India23 April 2013, Published under Cement NewsUltraTech Cement on Monday announced a 16.3 per cent YoY fall in quarterly profit, which it attributed to an increase in railway freight costs and diesel prices. The company reported standalone profit of INR7.26bn (US$134.26m) for the January-March quarter. Net sales rose one per cent to INR53.89bn and combined cement and clinker sales of grey cement were almost flat at 11.13Mt for the quarter. Fortunately, there was some respite as coal prices softened during the quarter. Brokerage firm J... |
UltraTech Cement production at 4Mt in March04 April 2013, Published under Cement NewsUltraTech Cement said that the company’s total production for March 2013 was 4Mt. Dispatches were 4.01Mt, the company said in a filing to the Bombay Stock Exchange. India’s largest cement company recently announced that it had commissioned two new cement facilities as part of its ongoing expansion drive to raise cement capacity by 9.2Mta to 62Mta. The recently-commissioned plants are a 3.3Mta brownfield clinker works at Rawan, Raipur, Chhattisgarh state and a 1.6Mta grinding unit in Hotgi... |
UltraTech commissions clinker and grinding projects, India25 March 2013, Published under Cement NewsIndia’s leading cement producer, UltraTech Cement, has commissioned two new cement facilities as part of its ongoing expansion drive. The company has informed the Bombay Stock Exchange that it has commissioned its 3.3Mta brownfield clinker plant at Rawan, Raipur, Chhatisgarh state. Meanwhile, it has also commissioned a 1.6Mta grinding unit in Hotgi, Solapur, Maharashtra. The company is also carrying out a brownfield clinker project at Karnataka, as well as grinding projects and waste h... |
UltraTech sales decline 6% in February07 March 2013, Published under Cement NewsUltraTech Cement, India’s largest cement producer, has reported a six per cent decline in February 2013 sales, amid wider concerns of subdued demand across the domestic market. The Aditya Birla group company sold 3.31Mt of cement last month compared to 3.51Mt in the same period of last year. Production during February 2013 also dropped to 3.32Mt compared to 3.46Mt in February 2012. The company did not elaborate as to why sales were slower, but industry experts said the winter seasons a... |