Cement News tagged under: India

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JSW Group reportedly set to reduce imports from China

02 July 2020, Published under Cement News

Parth Jindal, managing director of JSW Cement, has announced on social media that JSW Group plans to reduce its net imports from China. "The JSW Group have a net import of US$400m from China annually and we pledge to bring this down to zero in the next 24 months," said Mr Jindal. In the comment, Mr Jindal referred to the clash on the border of both countries, which took place earlier in June. JSW Cement currently imports clinker from China to supply its grinding operations. 

Andhra Cement January-March net sales down 85% YoY

02 July 2020, Published under Cement News

India-based Andhra Cement has reported standalone net sales of INR109.5m (US$1.44m) in January-March 2020, down 85.4 per cent when compared with INR749.4m in January-March 2019. In the January-March 2020 quarter the company posted a net loss of INR-543.8m while EBITDA was INR113.2m.

Anjani Portland Cement reports net profit rise in FY19-20

01 July 2020, Published under Cement News

India’s Anjani Portland Cement has reported a 14.7 per cent decline in total income to INR1.03bn (US$13.63m) for the final quarter of FY19-20, compared to INR1.21bn in the year-ago period. Net profit also fell 30.2 per cent YoY to INR80.4m from INR115.1m. In the full FY19-20, total income was down 5.9 per cent to INR4.13bn from INR4.39bn in the previous fiscal year. However, net profit surged 74.2 per cent YoY to INR403.5m from INR231.6m in the FY18-19.

CMA highlights positive sector prospects and continued sustainability drive

26 June 2020, Published under Cement News

India’s cement industry is providing self-sufficiency and is well-placed to cater to the existing and future demand of cement, according to Marendra Singhi, CMA president, in the opening session of Green Cementech’s 2020 virtual conference on 24-26 June. He highlighted the considerable growth prospects of the country’s cement sector in view of the country’s need for infrastructure and housing programmes. In terms of the sector’s sustainability, Mr Singhi emphasised that the country operate...

Star Cement sees 4% increase in sales

26 June 2020, Published under Cement News

India’s Star Cement has reported a 3.5 per cent rise in net sales to INR5.57bn (US$73.58m) in the final quarter of the FY19-20, compared with INR5.38bn in the corresponding period of the previous fiscal. However, the company’s net profit declined 4.4 per cent YoY to INR858.3m from INR897.7m. In the full FY19-20, total income edged up two per cent YoY to INR18.73bn from INR18.37bn. Net profit declined to INR2.86bn, a 4.4 per cent fall from INR2.99bn in the FY18-19.

Indian cement demand recovers after lockdown

26 June 2020, Published under Cement News

Following the lifting of the coronavirus lockdown in several Indian states, the country’s cement industry is witnessing some pick-up in demand, according to Livemint. Research into the cement dealers’ channel by various brokers has shown that pent-up demand is supporting capacity utilisation levels with rural areas expected to provide a further rise in sales going forward. “Rural and pent-up demand has led to higher-than-expected volumes in May-June 2020 and the industry could just suffe...

Burnpur Cement sees net loss widen in 4Q

25 June 2020, Published under Cement News

India’s Burnpur Cement has seen its standalone net loss widen to INR1.25bn (US$16.53m) in the quarter ending 31 March 2020, compared to an INR31.2m net loss in the corresponding period last year. Net revenue was down 25.7 per cent to INR178.5m from INR240.2m in the 4QFY18-19. However, operating expenses also declined 25.7 per cent YoY to INR176.7m from INR237.8m.

India Cements doubles net profit in FY19-20

25 June 2020, Published under Cement News

India Cements reported consolidated net profit of INR534.6m in FY19-20 when compared with INR252.6m in FY18-19. Total income rose from INR58.1bn in FY18-19 to INR52.231bn in FY19-20. India Cement's net loss in the 4QFY19-20 reached INR117.6m when compared with a profit of INR325.7m in the 4QFY18-19.  The company incurred a one-time loss of INR1bn owing to coronavirus uncertainty in the quarter under review. Total income stood at INR11.98bn in 4QFY19-20 when compared with INR16.23bn in the y...

Ramco Cements posts 18% profit increase in FY19-20

22 June 2020, Published under Cement News

India’s Ramco Cements recorded a 13.2 per cent YoY decline in consolidated net profit to INR1.43bn (US$18.8m) during the 4QFY19-20, compared with INR1.65bn in the year-ago period. Consolidated revenue also fell 9.2 per cent YoY to INR14.04bn from INR15.46bn. However, the company posted an 18.4 per cent rise in net profit to INR6.02bn for the full FY19-20 period, against INR5.11bn in the previous fiscal. Revenue advanced 4.5 per cent YoY to INR54.23bn from Rs51.87bn. In FY19-20, cement ...

Indian demand decline slows in May

19 June 2020, Published under Cement News

Despite expectations of a significant decline, Indian cement dispatches are estimated to have only fallen by 15-20 per cent in May, compared with an 80-86 per cent drop in the previous month. The positive development has been attributed to pent-up retail demand and the resumption of some construction projects. Cement prices have also been reported to increase by 0.8 per cent MoM in June, according to IDBI Capital Markets & Securities. However, the prices may begin to dip in the coming mont...