Cement News tagged under: India

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Ambuja Cement records net sales of INR33.4bn

26 July 2021, Published under Cement News

Ambuja Cement recorded net sales of INR33.420bn (US$448.9m) in the April-June 2021 quarter 2021, up from INR21.450bn in the same period last year. Sales volumes for the 2Q21 reached 6.33Mt up from 4.19Mt in the 2Q20.  EBITDA rose substantially in the 2Q21 to INR9600m, up 61 per cent from INR5950m recorded in the same period last year. Profit after tax amounted to INR7230m in 2Q21, up from INR4530m in the 2Q20. Neeraj Akhoury, CEO India of Holcim and Managing Director and CEO of Ambuja ...

UltraTech Cement announce net sales of INR116.9bn

23 July 2021, Published under Cement News

UltraTech Cement Co reported that its consolidated net sales in 1QFY22 reached INR116.9bn (US$1.57bn) compared to INR76bn over the corresponding period of the previous year.   Profit before interest, depreciation and tax was INR35,120m compared to INR23,570m. Profit before tax was INR25,270m and profit after tax was INR17,030m compared to INR11,530m and INR7940m, respectively.   Production costs during the quarter increased 11 per cent YoY, mainly on account of higher fuel prices. Th...

Nuvoco Vistas receives approval for its IPO

22 July 2021, Published under Cement News

Nuvoco Vistas Corp Ltd has received approval of capital markets regulator Sebi to launch its INR15bn (US$679.35m) initial public offering (IPO). The   Indian cement producer has a current cement capacity of 22.32Mta and operates 11 plants with units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana. Nuvoco Vistas, formerly Lafarge India Ltd, acquired Emami Cement in February 2020.

ACC Ltd records 2Q21 profits after tax of INR5.69bn

20 July 2021, Published under Cement News

ACC Ltd (Holcim group) has reported 2Q21 profits after tax of INR5.69bn (US$76m) up from INR2.71bn in 2Q20. In the April-June 2021 period under review, ACC Ltd recorded an EBITDA of INR8.69bn and net sales of INR38.1bn. Profit before tax reached INR7.58bn in the 2Q21, up from INR4.03bn in 2Q20. Sales volumes of cement reached 6.84Mt in the 2Q21, up from 4.76Mt in the 2Q20. Half-year sales volumes of cement reached 14.81Mt, up from 11.32Mt in the same period last year. Sridhar Bala...

Mangalam Cement sees 57% rise in sales

19 July 2021, Published under Cement News

India’s Mangalam Cement has reported a 57.1 per cent rise in sales to INR3.55bn (US$47.52m) in the quarter ending June 2021, compared to INR2.26bn in the year-ago period. Net profit also increased 189.4 per cent YoY to INR399.4m from INR138m in the corresponding period of the previous fiscal.

Shree Cement to open 3Mta Pune grinding plant in September

19 July 2021, Published under Cement News

Shree Cement's 3Mta clinker grinding unit at Patas, Pune district in Maharashstra, India, is now expected to be completed soon with commercial production to commence in September, according to company official. The western Indian expansion, which sits on a 26.6ha plot, had been delayed due to the impact of the COVID-19 pandemic and right-of-way issues. The project, which represents an investment of over INR6bn (US$80.39m), will receive clinker from its group plant in Karnataka. In 2020...

JSW Cement to sets its sights on IPO and green cement leadership

16 July 2021, Published under Cement News

This week, we look at JSW Cement's plans for the future as it attracts interest from investors, intends to expand its domestic cement capacity and make an entry into India's ready-mix sector. JSW Cement is positioning itself closer to being listed on the bourses as preparations continue to move towards an initial public offering (IPO). It is now starting to dilute minority private equity stakes in the company to a selection of investors.  JSW Cement is estimated to be worth in the regi...

Indian government sets up new cement council

08 July 2021, Published under Cement News

The Indian government has set up a 25-member development council for the cement industry, which will suggest ways to eliminate waste, obtain maximum production, improve quality, reduce costs and promote the standardisation of products, according to a press release. Other functions of the council include recommending measures for securing the full utilisation of installed capacity, particularly of less efficient units, as well as promoting training, and promoting or undertaking scientific ...

NCL Industries announces 52% rise in production

08 July 2021, Published under Cement News

India’s NCL Industries has announced a 52 per cent YoY increase in cement production to 706,370t in the first quarter of FY21-22. Cement dispatches were also up 44 per cent to 698,498t compared to the year-ago period. The company’s cement board production rose 37 per cent to 17,196t and dispatches climbed 32 per cent to 10,634t.

India's cement production falls in April and May

06 July 2021, Published under Cement News

India's cement production was down by 11 per cent MoM in April and 18 per cent MoM in May, due to the rise of COVID-19 cases and the subsequent lockdown restrictions by many states. However, notwithstanding the onset of the monsoon season, pent-up demand is expected to push volumes forward in the second quarter of the FY21-22. As a result, ICRA ratings agency has revised its volumetric growth estimates for the fiscal year downwards to 10-12 per cent from 15 per cent. Anupama Reddy, ass...