Cement News tagged under: HeidelbergCement India

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HeidelbergCement India completes two upgrade projects

01 April 2020, Published under Cement News

HeidelbergCement India has completed two debottlenecking projects at Imlai, Madya Pradesh, and Jhansi, Uttar Pradesh. The grinding capacity of these plants has been raised to 2.5Mta and 3.25Mta at Imlai and Jhansi, respectively. The projects were both completed in their scheduled timelines, with the grinding capacity of the company now standing at 6.26Mta.

India: Zuari Cement gets new MD as part of Italcementi acquisition

28 July 2016, Published under Cement News

Jamshed Naval Cooper, formerly CEO and managing director of HeidelbergCement India Ltd (HCIL), is to become managing director of Zuari Cement and managing director of HCIL, India Infoline reports. Mr Cooper, who previously worked for ACC before joining HCIL in 2006, will now be responsible for managing the affairs of both companies. Zuari Cement is an Italcementi subsidiary and the appointment of an HCIL executive as managing director reflects the changes brought about by HeidelbergCement...

HeidelbergCement India sees revenue rise by 7.2%

25 July 2016, Published under Cement News

In its earnings statement for 1QFY16-17, HeidelbergCement India reported that its revenues rose by 7.2 per cent YoY, while net profits rose from INR34.4m (US$0.5m) to INR262.6m (US$3.9m). According to reports in Mint, the company has benefitted from lower fuel and electricity prices as well as rising demand. While revenues exceeded market expectations, operating profits were below forecast. Buoyant demand will help to sustain revenues, but high capacity utilisation of around 80-85 per ...

India Ratings reaffirms Long-Term Issuer Rating to HeidelbergCement India

28 January 2015, Published under Cement News

Credit rating agency India Ratings and Research has reaffirmed Long-Term Issuer Rating of 'AA-' with stable outlook to the HeidelbergCement India. The rating indicates the high degree of safety regarding timely servicing of financial obligations and very low credit risk. HeidelbergCement Inida has production facilities at Damoh (Madhya Pradesh state), Jhansi (Uttar Pradesh), Ammasandra ( Karnataka) and Cochin (Kerala), and markets its products under the brand name Mycem across the various...

HeidelbergCement India likely to raise more funds

13 December 2013, Published under Cement News

HeidelbergCement India’s board will meet to consider raising INR3.7bn (US$59.5m) by issuing non-convertible debentures (NCDs) on private placement basis. “... a meeting of the board of directors of the Company will be held on 16 December 2013, inter alia, to consider issuance and allotment of the debentures aggregating to INR3.7bn,” the company said. It was planning to issue Indian rupee-denominated, rated, listed, unsecured, redeemable NCDs aggregating to INR3.7bn on private placement bas...

HeidelbergCement India mulls bond placement

12 December 2013, Published under Cement News

HeidelbergCement India's board is considering raising INR370 crore by issuing non-convertible debentures (NCDs) on private placement basis. In a filing to the Bombay Stock Exchange, HeidelbergCement India said: "... a meeting of the board of directors of the company will be held on December 16, 2013, inter alia, to consider issuance and allotment of the debentures aggregating to INR3700m." It was planning to issue Indian rupee denominated, rated, listed, unsecured, redeemable NCDs aggreg...

HeidelbergCement India reports quarterly loss

17 October 2013, Published under Cement News

HeidelbergCement India has reported a loss for the third quarter of 2013 due to higher finance costs and depreciation expenses. During the July-September period of 2013 the company reported a INR28.35 crore loss having registered a INR7.5 crore net profit in the same quarter of the last fiscal, it said in a filing to the Bombay Stock Exchange. Total expenses rose to INR314.43 crore during the quarter from INR242.87 crore a year earlier mainly because of higher finance costs and deprecia...

India: rejuvenating a cement brand under HeidelbergCement

01 October 2013, Published under Cement News

Having advised HeidelbergCement AG in its acquisition of the SK Birla-owned Mysore Cement, Ashish Guha, CEO of HeidelbergCement India (HIL), has steadily been rebuilding HeidelbergCement India. It was seven years ago when Daniel Fritz, who headed the multinational’s Asia Pacific market, asked Guha if he would be willing to take up the position of CEO and managing director of HIL. Apart from Mysore Cement, the new entity would include Indorama Cement, which HeidelbergCement had bought earl...

HeidelbergCement looks to increase Indian capacity

19 September 2013, Published under Cement News

HeidelbergCement India is looking to raise its capacity in India over the next few years to 15Mta including acquisitions. Speaking to the Financial Express, CEO of the India-based cement producer said: “We have plans to raise capacity to 15Mta in the next three-four years from the current level of 5.4Mta. We will be pursuing both organic and inorganic acquisitions. According to local press speculation, the company is in talks with potential sellers in central India where it already has...