Cement News tagged under: Birla group

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Mangalam Cement sees power and fuel costs jump 144% YoY

11 November 2022, Published under Cement News

Mangalam Cement Ltd , part of the BK Birla Group , has posted total revenue of INR4083m (US$50.54m) in the quarter ended 30 September 2022. This compares to INR5181m in the previous quarter and INR3839m in the same period a year earlier, according to Dow Jones Newswires. The company has reported a loss of INR271m in the September 2022 quarter, versus a profit of INR280m in the June 2022 quarter and a profit of INR110 in the September quarter in the previous year. Basic earnings per shar...

India Cements in talks to sell Madhya Pradesh project

04 October 2022, Published under Cement News

India Cements is reportedly in talks with a number of companies over the sale of its project in Madhya Pradesh. India Cements had planned to set up a 3Mta integrated cement plant on the site but is now looking to sell the site to reduce its long-term debt, reports The Hindu. The project with its limestone mine is valued at around INR8000m (US$97.8m). Among the companies vying for the project are UltraTech Cement , JSW Cement , Birla Group and Adani Group . May 2022 saw India Ceme...

Margins squeezed for Indian cement producers

12 August 2022, Published under Cement News

India remains one the fastest-growing economies at 7.4 per cent GDP growth in 2022, according to the IMF. Cement demand has also risen and is forecast to rise by 7-8 per cent in the FY22-23 to around 388Mt, says ICRA Corporate Ratings. This would seem positive for investment in the Indian cement sector, but cement producers have been announcing tighter margins, and raw material and energy costs are expected to further impact margins going forward. Reporting on operating margins for ceme...