Cement News tagged under: ACC

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ACC reports 19% rise in 4Q14 profit

04 February 2015, Published under Cement News

ACC, India’s second-largest cement manufacturer, reported a 19 per cent jump in profit in the October-December quarter, driven mainly by a substantial tax reversal. Net profit rose to INR3.26bn in the three months ended 31 December from INR2.75bn a year ago, the company said in a filing to the Bombay Stock Exchange. The tax reversal for the quarter stood at INR1.8435bn against a reversal of INR358.5m in a year ago. The Holcim group company said net sales increased by three per cent to I...

Better price realisations boost ACC and Ambuja’s third-quarter revenues

31 October 2014, Published under Cement News

Holcim’s Indian subsidiaries ACC and Ambuja Cements both reported higher revenues for the 3Q14, on the back of a recovery in prices, but sales volumes remained a concern. ACC, the country’s second-largest producer, saw revenue grew by 9.4 per cent to INR2742 crore, driven primarily by a better pricing environment. Operating EBTIDA rose 32 per cent to INR379.08 crore. Net profit was INR193 crore, up 62 per cent YoY. Sales volumes at 5.62Mt during the September quarter were only 1.4 per cent...

Badami takes up role of ACC chief executive officer and MD

14 August 2014, Published under Cement News

Harish Badami yesterday assumed the role of CEO and managing director of India’s second-largest cement producer, ACC. "Harish Badami has taken over as CEO & MD from August 13 2014 and Kuldip Kaura has demitted office as CEO & MD from the said date," the Holcim group company said in a statement. The Board had approved Badami’s appointment in June. Prior to joining ACC on 1 August 2014, Badami had served as managing director of Celanese India. He also held the positions of president and MD...

ACC net profit down 7%, improving demand outlook

25 July 2014, Published under Cement News

India’s second-largest cement producer, ACC, reported a seven per cent decline in profit for the second quarter of the year as operational costs continued to rise. However, improvements on the demand front were noted, a trend which the Holcim group company expects to continue. During the quarter ended June 2014, consolidated turnover was up 7.8 per cent to INR30bn (US$5bn). EBITDA, however fell 7.7 per cent to INR4.5bn. Net profit was down 7.1 per cent to INR2.43bn. The company said it ...

Lafarge and Holcim to make portfolio decisions in India

16 June 2014, Published under Cement News

Holcim Ltd and Lafarge SA may sell some assets in India to clear the competition hurdle and are considering units in Rajasthan and Chhattisgarh where the two companies have common presence. Holcim operates in India through Ambuja Cements Ltd and ACC Ltd, and Lafarge through Lafarge India Pvt Ltd. Lafarge runs units in Chhattisgarh, Jharkhand, Rajasthan and West Bengal while ACC and Ambuja Cements own integrated plants in Rajasthan and Chhattisgarh, among other places.    "In states where ...

New ACC chief executive officer appointed

12 June 2014, Published under Cement News

ACC Ltd, part of the Holcim group, said on Wednesday that it had appointed Harish Badami as the chief executive officer (CEO) and managing director (MD) of the company. In a statement filed to the exchanges, the company said Mr Badami will take over from Kuldip Kaura, the incumbent CEO and MD, as of 13 August 2014 for a period of five years. ACC is India's second-largest cement producer.

ACC and Ambuja post diverging results, India

25 April 2014, Published under Cement News

Holcim’s two Indian interests have posted contrasting results for the first quarter of 2014, with ACC’s profit down nine per cent while Ambuja Cement’s net climbs 6.6 per cent. Ambuja Cements reported a net profit of INR5.20bn (US$85.2m) for the first quarter ended March 31, compared with INR4.88bn a year earlier. Sales volume increased two per cent to 6.06Mt. Ambuja's net profit was helped after other income rose by 53.2 per cent to INR1.32bn from a year earlier, according to a company...

Ambuja gets nod for merger with Holcim India

27 March 2014, Published under Cement News

The High Courts of New Delhi and Gujarat have given Ambuja Cements the green light to merge with Holcim India – paving the way for the ACC-Ambuja restructuring process announced by the parent company in July last year. In a two stage deal, Ambuja will first acquire, through a purchase, a 24 per cent stake in  Holcim India for a cash consideration of INR35,000m (US$~600m), followed by a stock merger between Holcim India and Ambuja.

India: ACC lined up to buy into two cement joint ventures

24 March 2014, Published under Cement News

ACC (Holcim) is likely to buy Jaypee Group 74 per cent stake in two separate cement joint ventures with state-owned steel maker Steel Authority of India Ltd, according to the Business Standard. The two joint ventures are located at Bhilai (Chhattisgarh) and Bokaro (Jharkhand) with a total capacity of just over 4Mta. Jaypee Group has been struggling with debts and has been in talks with ACC to hive off some assets. In a BSE filing, Jaypee Group said its Board would meet "to consider stake ...

ACC inaugurates blended cement facility, India

11 February 2014, Published under Cement News

ACC has inaugurated a blended cement plant at Padubidri in Udupi district in the Karnataka state of India. The unit will use fly ash from Udupi Power Corporation’s thermal power plant in Udupi, PN Iyer, chief executive (South) of ACC Ltd, told those in attendance. Clinker from ACC’s plant at Wadi in Gulbarga district will be used for the production of blended cement. The new facility has a capacity of 30,000t per month and will cater for the cement requirements in coastal Karnataka and Ke...