Cement News tagged under: India

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Ambuja sees 188% 4Q net profit surge

19 February 2019, Published under Cement News

Ambuja Cements' sales rose 6.7 per cent to 13.63Mt in the quarter ended 31 December 2018 from 12.78Mt in 4Q17. This resulted in a total income of INR68.552bn (US$959.7m) in the October-December 2018 quarter, up 9.3 per cent YoY, while consolidated net profit surged 188 per cent to INR13.779bn. In its outlook LafargeHolcim-owned Ambuja Cements said the higher investment in the road network and housing sector, announced in India’s interim Budget 2019 will help boost economic development in ...

Saurashtra Cement reports net loss of INR6.7m

18 February 2019, Published under Cement News

Indian cement producer Saurashtra Cement saw its net profit fall to INR6.7m (US$93,790) in the quarter ended December 2018 when compared with INR33.2m in the year-ago period. Sales rose 11.3 per cent to INR1.585bn in the October-December 2018 from INR1.424bn in October-December 2017.

KCP starts commercial production at Muktyala II

18 February 2019, Published under Cement News

India-based KCP has started commercial production on the second line of its plant in Muktyala, Andhra Pradesh, according to the company’s notification to the Bombay Stock Exchange. Some minor work such as the packing facilities of the 1.66Mta cement works remains outstanding but the company expects to complete this in about two months’ time. The latest addition takes the total capacity of KCP to 4.3Mta. In addition, the company is further expanding its capacity with a 0.5Mta grinding uni...

Pakistan exports of cement to India expected to fall

18 February 2019, Published under Cement News

Pakistan cement exports to India are likely to be affected following the Indian government's announcement to scrap the 'Most-Favoured Nation' status to Pakistan, after an attack on Indian forces in Pulwama , Jammu and Kashmir, India, recently.   According to Al Habib Capital Markets, Pakistan's cement exports are expected to suffer most due to this unwanted tension between India and Pakistan. During 7MFY19 Pakistan's total cement exports stood at ~2.876Mt, up four per cent, YoY, of which c...

Ambuja Cements announces plant expansion project

15 February 2019, Published under Cement News

India’s Ambuja Cements Ltd is planning to expand manufacturing capacity from 2.4Mta to 3.4Mta at its Jala Dhulagori facility in West Bengal. While the company is awaiting environmental clearance, work on the project is expected to begin by October 2019. 

Deccan Cements sees four-fold 3Q net profit surge

14 February 2019, Published under Cement News

India-based Deccan Cements reported a near four-fold hike in its net profit for the third quarter ended 31 December 2018. Net profit surged to INR329.9m from INR89.5m in the 3QFY18-19. Total income of the company increased from INR1362.1m in the year-ago period to INR5029.2m in the third quarter of the current financial year. Deccan Cements produces OPC, PPC, blended and slag cement as well as generating hydroelectric, wind and thermal power.

Cement prices rise 36-44% in Tamil Nadu

14 February 2019, Published under Cement News

The price of a bag of cement in Tamil Nadu, India, has increased 36-44 per cent in the past week, rising from INR250 (US$3.54) to INR340-360. R Radhakrishnan, trustee and former national president of the Builders’ Association of India, has noted that the increase will affect construction projects. "The price of basic raw materials in manufacturing of cement has not increased. The price of cement bag has increased by INR100. This increase is totally unethical. We request the government to fo...

India cement GST cut on the agenda

13 February 2019, Published under Cement News

India’s General Sales Tax (GST) Council will consider a proposal to slash the tax on cement from 28 to 18 per cent at its meeting on 20 February, along with a ministerial panel report that proposes a reduction in rates in under-construction properties, including affordable homes, according to Indian newspaper The Telegraph. However, the reduction of GST for cement to 18 per cent will represent a loss of INR130bn annually to the government. The Narendra Modi-led government wants the GST re...

JSW Cement completes Dolvi expansion

13 February 2019, Published under Cement News

India’s JSW Cement has announced the completion of its expansion project at its plant in Dolvi, Maharashtra. The project has increased capacity from 1Mta to 2.2Mta, thereby lifting the company’s installed capacity to 12.6Mta. "Our Dolvi cement unit is located closest to our customers in Maharashtra thereby ensuring that all their requirements are serviced quickly and with the freshest quality cement. It enables us to become an integral part of state's infrastructure growth story," said Part...

JK Lakshmi Cement reports 72% profit growth

12 February 2019, Published under Cement News

India's JK Lakshmi Cement has recorded a 71.7 per cent increase in standalone net profit to INR147.5m (US$2.07m) for the third quarter ended 31 December, compared with INR85.9m of the year-ago period. Its total income during the 3QFY18-19 was up 11.3 per cent YoY to INR9.487bn from INR8.52bn. The company also reported nine per cent volume growth in the period. However, total expenses rose 10.7 per cent YoY to INR9.29bn from INR8.39bn. "The company has been facing pressure of increased pet...