Cement News tagged under: Indian subcontinent
Ramco Cements sees 4% rise in revenue05 February 2021, Published under Cement NewsIndia’s Ramco Cements has reported a four per cent YoY rise in revenue from operations to INR13.24bn (US$181.55m) for the December 2020 quarter. Gross earnings advanced 91 per cent YoY to INR4.03bn. However, cement sales declined 7.1 per cent to 2.6Mt from 2.8Mt in the 3QFY19-20. "The sales volume in the current quarter was impacted due to extended and above normal monsoon in Tamil Nadu, Kerala, Karnataka, AP and Telangana," said the company. Cement prices were also under pressure in all of... |
UltraTech Cement receives approval to raise INR30bn04 February 2021, Published under Cement NewsIndia’s UltraTech Cement has received approval to raise INR30bn (US$411.42m) through the issuance of US dollar-denominated bonds. The proceeds from the issuance are expected to be used to refinance existing rupee debt, with the remainder reserved for regular ongoing capital expenditure requirements and general corporate purposes. The bonds will be offered and sold within the US in one or more tranches. |
Lucky Cement announces 3.15Mta Pezu expansion02 February 2021, Published under Cement NewsPakistan’s Lucky Cement Ltd has announced a further expansion to its Pezu plant on the back of positive results from the domestic cement sector. "Keeping pace with the increasing demand in the domestic cement industry, on the back of revival of economic activity and uptick in construction projects including both retail level projects as well as mega infrastructure development projects the company has decided to enhance its cement production capacity at its Pezu Plant by 3.15Mta," said the ... |
Dewan Cement appoints new CEO29 January 2021, Published under Cement NewsPakistan’s Dewan Cement has announced the appointment of a new Chief Executive Officer and Director, with effect from 27 January. Malik Bilal Omar has been appointed in the role after the departure of Syed Muhammad Anwar. |
India Cements returns to profit in 3Q28 January 2021, Published under Cement NewsIndia Cements has reported an INR693m (US$9.48m) net profit for the October-December 2020 period, compared to an INR94.3m net loss in the year-ago quarter. Revenue fell 4.8 per cent YoY to INR11.84bn from INR12.44bn. The top line of the company was largely impacted by the delayed effects of COVID-19, with most of the incremental demand for cement coming from the east, central and northern regions of India. |
Shree Digvijay Cement sees 17% rise in revenue28 January 2021, Published under Cement NewsIndia’s Shree Digvijay Cement has announced a 17.2 per cent YoY increase in standalone revenue to INR1.43bn (US$19.69m) for the December 2020 quarter, compared to INR1.22bn in the year-ago period. The company also reported a 48.5 per cent YoY rise in standalone profit to INR140.2m from INR94.4m. |
Birla Corp reports 82% rise in net profit25 January 2021, Published under Cement NewsIndia’s Birla Corp has seen its net profit surge 82.1 per cent YoY to INR1.484bn (US$20.35m) in the December quarter, compared to INR814m in the 3QFY19-20. Revenue also increased five per cent YoY to INR18.23bn, while EBITDA was up 19.4 per cent to INR3.76bn. The company’s sales volumes rose 3.2 per cent to 3.55Mt in the October-December 2020 period, boosting capacity utilisation to 92 per cent from 88 per cent in the same period last year. In the 9MFY20-21, its net profit climbed 22.7 p... |
Shiva Cement sees net revenue down 8%25 January 2021, Published under Cement NewsIndia’s Shiva Cement has reported a standalone net loss of INR58.6m (US$803,778) in the 3QFY20-21, compared to an INR61.4m loss in the year-ago period. Net revenue declined 7.6 per cent YoY to INR70.1m from INR75.9m. However, operating expenses also fell 12.1 per cent to INR90.1m. |
Udaipur Cement Works sees sales rise 15%21 January 2021, Published under Cement NewsIndia’s Udaipur Cement Works has seen its net profit surge to INR155.5m (US$2.13m) in the quarter ending 31 December 2020, compared to INR9.7m in the year-ago period. Sales also increased 15.4 per cent YoY to INR1.83bn from INR1.59bn in the 3QFY19-20. |
Damani family increases stake in India Cements19 January 2021, Published under Cement NewsRadhakishan Damani and Gopikishan Damani have increased their stake in India Cements during the October-December 2020 quarter. Radhakishan Damani increased his stake by 0.54 per cent, now holding an 11.34 per cent stake in the company against 10.8 per cent at the end of the July-September quarter. At the same time, his brother Gopikishan Damani now owns 8.46 per cent of the total paid-up capital in the company, up from 8.26 per cent in the 2QFY20-21. In addition, together the brothers ... |