Cement News tagged under: Birla Corporation

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Birla Corporation announces new MD and CEO

11 November 2022, Published under Cement News

Birla Corp Ltd (BCL) has announced the resignation of its managing director and chief executive officer, Shri Arvind Pathak. Mr Pathak, who is leaving the company for personal reasons, will remain in his current position until 31 December 2022. With effect from 1 January 2023, Shri Sandip Ghose will take over the role of managing director and chief executive officer for a period of three years. Mr Ghose has over 39 years’ of experience having worked for both large multinational corporat...

Birla Corporation profits hit by production costs in 2QFY22-23

10 November 2022, Published under Cement News

Even with a double-digit increase in cement sales by volume, Birla Corp Ltd ’s September 2022 quarter (2QFY22-23) profitability was hit by a sharp increase in power and fuel costs. The seasonally weak monsoon quarter meant the company was unable to pass these costs onto the customer, resulting in EBITDA in the quarter falling 51.6 per cent YoY to INR1360m (US$16.7m). Profitability was also impaired by the costs related to the newly commissioned 3.9Mta integrated plant in Mukutban run b...

Birla plans US$1bn investment in new capacity

30 September 2022, Published under Cement News

Birla Corp is planning to invest around US$1bn to increase cement production capacity from 20Mta to 30Mta over the next eight years. According to Harsh V Lodha, chairman of Birla Corporation, the capacity additions will be the result of greenfield and brownfield projects as well as debottlenecking exercises across its entire portfolio, reports The Hindu. The company is reportedly considering a new 4Mta integrated greenfield plant in Chhattishgarh, along with a further 4Mta through a bro...

Birla Corporation hit by escalating fuel costs

08 August 2022, Published under Cement News

Birla Corp Ltd has reported a 25.2 per cent increase in revenue to INR22,180.6m (US$278.8m) in the first quarter of FY22-23, despite tepid cement demand. However, profitability was hit by rising power, fuel and freight costs, along with the costs incurred with the optimisation of the newly-commissioned Mukutban plant in eastern Maharashtra. Commercial production at the plant began on 30 April 2022 with capacity at the unit expected to reach 3.9Mta, taking the company's total production cap...

Birla Corp consolidated net profit rises to INR1420m in FY1Q21

06 August 2021, Published under Cement News

Birla Corp Ltd has reported a consolidated net profit of INR1425.1m (US$19.08m) in the 1QFY21-22 ended June 2021, which is 115 per cent higher over the corresponding quarter of the previous year, when net profit reached INR657.7m. However when compared with the January-March 2021 quarter, when a net profit of INR2493.3m was reported, it fell sharply. Net revenue for the quarter at INR17,491.1m represents a growth of nearly 43.1 per cent over the last year's corresponding period, when r...

Birla reports 13% rise in revenues, sees net loss narrow in 3QFY16-17

12 February 2018, Published under Cement News

Birla Corp reported a consolidated net loss of INR-218.4m (US$-3.4m) for the quarter ended 31 December 2017, when compared to INR-412.9m in the equivalent period a year ago. Revenue from its operations was INR13.893bn, up 12.7 per cent YoY from INR12.324bn in the 3QFY16-17. EBITDA increased 7.9 per cent YoY from INR1.417bn to INR1.528bn in the quarter ending 31 December 2017. The company attributed the 3Q loss to the “non-availability of railway rakes, as these were diverted for ca...

LH to sell two eastern Indian plants to Birla Corp

17 August 2015, Published under Cement News

LafargeHolcim announces that it has entered into a letter agreement with Birla Corp Ltd, subject to approval by the Competition Commission of India (CCI), for the divestment of certain assets in India for an enterprise value of INR50bn (approximately US$765.8m). The proceeds from the sale of the divestment business will be used to further reduce debt. As announced in April 2015, LafargeHolcim has received conditional clearance from the CCI for the merger. In that context, a package of ass...

Production halted at Birla Corp's Durgapur units due to east coast cyclone, India

16 October 2013, Published under Cement News

Birla Corporation said production at its Durgapur cement unit in West Bengal has been affected by the severe Cyclone Phailin that hit eastern areas of India earlier this week and the company is now working towards restoring power before operations can resume. "The operations at the company's Durgapur Cement units have been affected on account of severe 'Tornado' on October 13, 2013, which damaged local high tension line and pole structure... The production of cement can be resumed only af...

Birla Corp starts trial production at Chanderia, India

21 March 2012, Published under Cement News

Birla Corporation Ltd. has commenced trial production of clinker from its 1.2Mt brownfield capacity expansion project at Chanderia in Rajasthan. The Indian Bureau of Mines has conducted an inspection and undertaken various tests regarding mining activities at Chanderia and a report has since been submitted to the Court. (Economic Research India Pvt. Ltd)