Cement News tagged under: Indian sub-continent
Prism Johnson sees 61% fall in net profit29 May 2020, Published under Cement NewsIndia’s Prism Johnson Ltd, formerly known as Prism Cement, has reported a 61 per cent fall in standalone net profit to INR564.5m (US$7.47m) in the FY19-20, compared with INR1.46bn in the previous fiscal year. EBITDA was also down six per cent YoY to INR5.22bn from INR5.55bn. Cement volumes contracted by three per cent during the FY19-20, due to the country entering lockdown in March. Otherwise, cement volumes were expected to increase since they were up a modest one per cent YoY for the fi... |
Birla Corp posts 52% rise in net profit26 May 2020, Published under Cement NewsIndia’s Birla Corp has posted a 52 per cent YoY surge in net profit to INR1.95bn (US$25.76m) in the quarter ending 31 March 2020, while total income was down 9.4 per cent to INR17.18bn. Capacity utilisation during the 4QFY19-20 declined to 93 per cent from 98 per cent, on the back of a 13 per cent YoY drop in sales volumes to 3.3Mt. In the FY19-20 net profit advanced 98 per cent YoY to INR5.05bn. Orient Cement Birla Corp subsidiary, Orient Cement, recorded a 29 per cent YoY decline in... |
CCI approves acquisition of Emami Cement22 May 2020, Published under Cement NewsThe Competition Commission of India has approved the 100 per cent acquisition of the total issued and paid-up share capital of Emami Cement Ltd by Nuvoco Vistas Corp. Emami had entered into an agreement for the divestment of its 100 per cent equity stake in Emami Cement for an enterprise value of INR55bn (US$724.83m) in February. The acquisition will bring Nuvoco's total cement capacity in India to 23.5Mta, including an ongoing capacity expansion project in Jojobera, Jharkhand, and over ... |
JK Lakshmi Cement sees 151% increase in net profit22 May 2020, Published under Cement NewsIndia’s JK Lakshmi Cement has reported a 150.5 per cent YoY increase in net profit to INR986.3m (US$13.04m) in the final quarter of FY19-20, against INR393.8m in the corresponding quarter of the previous fiscal. However, the company’s revenue from operations was down 11.1 per cent YoY to INR11.37bn from INR12.79bn in the 4QFY18-19. The company has attributed the results to an improved product mix, market optimisation, alongside a reduction in logistic costs and improvements in plant effic... |
UltraTech Cement Ltd records net sales of INR105.8bn in 4QFY19-2021 May 2020, Published under Cement NewsUltraTech Cement Ltd (Aditya Birla Group) announced its financial results for the 4Q and full year ended 31 March 2020. 4QFY19-20 Consolidated net sales reached INR105.8bn (US$1.39bn) vis-à-vis INR121.7bn in the corresponding period of the previous year. Profit before interest, depreciation and tax was at INR26.4bn versus INR26.72bn in the year-ago period. Profit after tax was INR32.43bn compared to INR10.64bn in the 4QFY18-19. Full-year results For the full year, consolidated net s... |
Indian prices expected to rise as demand falls20 May 2020, Published under Cement NewsIndian cement prices are expected to rise by INR15-20/bag (US$0.19-0.26) due to supply constraints, despite dealers across the country expecting demand to fall by 30 per cent on the back of stalled construction projects, reports analytics agency Crisil. However, over the medium term, the price hike is expected to be rolled back due to the low demand and rising competition. The delay in construction work is expected to be anywhere between 4-6 months, depending on the lockdown outcomes. ... |
Saurashtra Cement 1Q20 net profit rises to INR66.2m19 May 2020, Published under Cement NewsSaurashtra Cement reported a net profit of INR66.2m (US$0.87m) in the quarter ended March 2020 as against a net loss of INR55m in the year-ago quarter ended March 2019. Sales rose 10.2 per cent to INR1.76bn in the quarter ended March 2020 from INR160.61bn in the previous year's equivalent quarter. For the full year ended March 2020, net profit reported was IBR565.1m against net loss of INR492m during the previous year ended March 2019. Sales declined 2.2 per cent YoY to INR6.08bn in FY19-... |
Udaipur Cement Works records 207% surge in EBITDA19 May 2020, Published under Cement NewsIndia’s Udaipur Cement Works has reported an 18.4 per cent increase in total income to INR6.85bn (US$90.2m) for the financial year ending 31 March 2020, compared with INR5.79bn in the FY18-19. EBITDA surged 206.7 per cent YoY to INR1.26bn from INR410.9m. The company’s net profit also reached INR155.2m from an INR407.3m net loss in the previous fiscal year. |
KCP appoints new managing director14 May 2020, Published under Cement NewsIndia’s KCP Ltd has received shareholder approval for the appointment of V L Indira Dutt as its new chairperson and managing director with immediate effect. The company's executive chairman, V L Dutt, had passed away earlier this year. Prior to taking up the new responsibility, Indira Dutt was director of KCP Ltd, Velagapudi Foundation, KCP Vietnam Industries and V Ramakrishna Sons. |
Shree Cement posts 58% increase in profit12 May 2020, Published under Cement NewsIndia’s Shree Cement has seen a 57.6 per cent rise in consolidated net profit to INR5.36bn (US$70.78m) in the quarter ending 31 March 2020, compared with INR3.12bn in the year-ago period. The company’s total income remained largely consistent with last year at INR35.13bn from INR35.38bn. In the 4QFY19-20, the company’s fuel and power expenses declined 19.8 per cent YoY to INR6.98bn. During the full FY19-20 period, Shree Cement’s net profit advanced 52.1 per cent YoY to INR15.44bn from ... |