Cement News tagged under: Ambuja Cements

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Ambuja Cements first quarter net profit declines, India

20 April 2012, Published under Cement News

Ambuja Cements posted a 23.4% drop in its first quarter net profit at INR312.2 crore against INR407.5 crore in the corresponding quarter last year. The company's 1Q net sales saw a rise of 19% to INR2633.3 crore against INR2212.5 crore in the corresponding quarter last year. Net profit declined due to an additional depreciation charge of INR289 crore. First quarter dispatches rose to 6.1Mt versus 5.5Mt last year. The company hiked cement prices in March on the back of a 20% railways frei...

Holcim

05 April 2012, Published under Cement News

Holcim has strengthened its capital base by issuing 5m treasury shares at CHF59.25. The offer was over-subscribed and is raising CHF296m, or €2346m. This transaction has increased the issued share capital by approximately 1.5%. Holcim Philippines, which saw its 2011 net profit drop by 47.1% in response to weaker demand and higher costs, is expecting growth of 5-6% in 2012 and re-opened its Calaca works in January. Holcim's Indian volumes have continued to rise at both ACC and Ambuja Cemen...

Indian majors report March gains

04 April 2012, Published under Cement News

Three of India's leading cement producers, UltraTech Cement as well as Holcim interests, ACC and Ambuja Cement, all reported healthy gains in their respective March 2012 figures.   UltraTech despatched 4.01Mt cement in March, 6.28% higher from previous year, a company release today said. Cement production during the month rose 4.5% YoY to 3.92Mt. On a monthly basis, despatches and production rose 14% and 13%, respectively. Ambuja Cement sold 2.17Mt of cement in March this year, up 12.4...

Ambuja Cements investment update, India

16 March 2012, Published under Cement News

Ambuja Cements, part of the Holcim Group, plans to invest INR18bn (US$358m) by December 2013 to increase capacity. The investment will be funded through internal accruals. As of the quarter ended December 31, the company had a cash surplus of INR77bn, India Investment News reports. The Indian cement major plans to establish a 2.2Mta clinker plant at Naguar in Rajasthan, for which a feasibility study has been completed and environmental clearance obtained. Ambuja Cement has also initiat...

Ambuja production rises 11.28%, India

05 March 2012, Published under Cement News

Ambuja Cements reported an 11.28 per cent rise in production in February 2012 to 1.99Mt from 1.79Mt in February 2011. Meanwhile, dispatches reached 2Mt compared with 1.77Mt the year before, representing a rise of 12.74 per cent. For the first two months of the current calendar year, cement production and dispatches were 3.9Mt and 3.92Mt, respectively compared with 3.64Mt and 3.61Mt in the same period of 2011.

Jefferies starts India cement coverage

24 February 2012, Published under Cement News

Jefferies has initiated coverage on the Indian cement industry with a buy rating on ACC, Grasim Industries, India Cements, UltraTech Cement, and hold rating on Ambuja Cements. "We believe India Cements has the highest earnings upside from both volume and price surprises.... Among the large caps, Ultratech looks the best positioned without a significant exposure to south," said Jefferies in a report on Thursday. The house says that it expects the next few years to be good for the cement...

ACC and Ambuja optimistic on year ahead

10 February 2012, Published under Cement News

Holcim’s Indian interests, ACC and Ambuja Cements both have an optimistic outlook for domestic cement demand this year, the Wall Street Journal reports. ACC said though economic growth during the current fiscal year hasn’t been robust, it has seen some positive signs in the last few months. “In the near term, we expect economic development will accelerate as India plans to invest about US$1trn (INR49.3trn today) in infrastructure in the 12th Five-Year Plan period,” the company said. “This ...