Cement News tagged under: ACC

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ACC announces 11% YoY revenue increase in 2Q18

24 July 2018, Published under Cement News

India’s ACC Ltd has announced an 11 per cent YoY rise in revenue to INR38.48bn (US$557.85m) in the 2Q18, while EBITDA advanced 10 per cent to INR5.4bn. Profit remained largely flat, however, showing growth of one per cent to INR3.26bn. Cement volumes increased 7.4 per cent to 7.2Mt in the period, with a positive outlook for demand forecast for the rest of 2018.  "The economic upswing in 2018 supported by buoyant consumption, a normal monsoon and uptick in rural demand is expected to bene...

ACC expects Indian demand to increase by 7% in 2018

18 June 2018, Published under Cement News

India’s ACC expects the country’s cement demands to grow by seven per cent this year, assisted by infrastructure projects and the continued focus on rural development and affordable housing schemes. However, intense competition and insufficient consumption will lead to excess capacity, according to the producer. "The cement industry had a growth of six per cent in 2017 as against 5.1 per cent in the previous year. Around 66 per cent of its demand came from the housing sector, followed ...

ACC announces 19% net profit increase in 1Q18

20 April 2018, Published under Cement News

India's ACC has announced a 19 per cent YoY increase in net profit to INR2.5bn (US$38m) for the 1Q18. The company has attributed this positive performance to increased volumes and net sales, despite rising costs, according to The Economic Times. EBITDA rose 18 per cent to INR4.92bn, while net sales surged 14 per cent to INR35.57bn.  "A rise in energy slag prices adversely impacted operating costs during the current quarter as compared to the same quarter a year ago," said the company in a...

BJP government to conduct vigilance probe into land transfer

09 March 2018, Published under Cement News

The Bharatiya Janata Party (BJP) government in Haryana, India, has decided to conduct a vigilance probe into the transfer of approximately 122 acres of land from Associated Cement Companies’ (ACC) Bhupendra factory to a Mumbai-based builder, reports The Times of India.   Latika Sharma, MLA, Kalka (BJP), has stated that, as per the lease deed of the factory, the land could only be used for industrial purposes, but during the tenure of the previous government it was transferred to a builder...

ACC and Ambuja place merger on hold

27 February 2018, Published under Cement News

ACC Ltd and Ambuja Cements Ltd have placed their proposed merger on hold due to constraints related to the transfer of mines under current laws, reports the Hindustan Times.  "The current regime on transfer of mineral concessions is still evolving and does not provide for a merger currently," said a spokesperson for ACC. "Given the challenges of achieving such transfers across 18-20 states, it was found prudent not to pursue the same at this point of time." The merger has been under re...

ACC releases 2017 results

09 February 2018, Published under Cement News

ACC has released its consolidated financial results for the final quarter and full-year period ended 31 December 2017. Cement sales increased 14 per cent in 2017, to 26.21Mt from 22.99Mt of the previous year. Net sales reached INR129bn (US$2bn) in the full-year period, compared to INR107.7bn seen in 2016. Operating EBITDA advanced 29 per cent YoY to INR19.1bn from INR14.7bn. 4Q17 Cement sales in the 4Q17 registered growth of 27 per cent YoY to INR6.92Mt, backed by a stronger focus on pr...

ACC launches new cement

26 January 2018, Published under Cement News

Neeraj Akhoury, CEO, ACC Ltd, launched the company’s new F2R Superfast cement on Tuesday, according to the Business Standard. The product is the latest addition to the F2R range, designed to meet consumer needs and local conditions. It will feature tamper-proof packaging to ensure that the cement retains the best possible quality during its delivery to the customer. "We are very excited with our latest innovation which was developed in response to specific customer needs such as fast se...

ACC Ltd expects demand to stay on course in 2018

28 December 2017, Published under Cement News

ACC Limited expects demand for cement in India to stay on course in the coming year. In its outlook for 2018, the company stated how the plans by the Government of India to boost economic growth and develop 100 smart cities will provide increased construction activity. “[The Government of India] plans to increase investment in infrastructure, as well as expand the capacity of railways and the facilities for handling and storage to ease the transportation of cement and reduce transportation ...

LafargeHolcim

01 November 2017, Published under Cement News

The Indian LafargeHolcim subsidiary Ambuja Cement sold 17.09Mt of cement during the first half of 2017, a YoY increase of six per cent with the third quarter showing an 11.6 per cent rise to 5.02Mt. The turnover advanced by 10.1 per cent to INR76.29bn, but EBITDA were only 3.1 per cent ahead at INR14bn. Net profit showed a 21 per cent rise to INR9.11bn. Including ACC, the cement volume was ahead by 8.1 per cent to 36.38Mt, while the turnover was ahead by 13.6 per cent to INR170.95bn and EBIT...

ACC 3Q17 sales volume rises 18%

18 October 2017, Published under Cement News

ACC delivered sales volume growth of 18 per cent in the 3Q17 (July-September 2017) compared to five per cent in 3Q16. Sales volume reached 19.29Mt for the first nine months of 2017. The stabilisation of Jamul and Sindri cement plant capacities have contributed to this growth. Premium product sales rose by 18 per cent YoY. "ACC's results demonstrate our capacity to respond quickly and resolutely to changing market dynamics and execute strategies with focus and determination. Our approach...