Cement News tagged under: India Cements

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No stopping India's cement capacity rise

20 August 2021, Published under Cement News

India is the second-largest cement market in the world with an increasing population and high development needs. Consequently, the prospects for long-term cement demand growth are good. While many cement companies have delayed investment plans due to the ongoing pandemic, in India there is a surge of activity for CAPEX projects. The Cement Manufacturing Association (CMA) currently estimates that India has an installed cement capacity of 545Mta. A report by Crisil Ratings claims that as mu...

India Cements reports 35% increase in revenue

13 August 2021, Published under Cement News

India Cements has seen its standalone profit more than double to INR374m (US$5.034m) in the first quarter of FY21-22. Revenue from operations also advanced 35.1 per cent YoY to INR10.23bn from INR7.57bn in the year-ago period. Cement production climbed 40 per cent YoY to 1.88Mt, while overall sales including clinker increased 37 per cent. 

India Cements recovers in 4QFY21

25 May 2021, Published under Cement News

India Cements has reported a standalone net profit of INR716.3m (US$9.84m) in the final quarter of FY20-21, against a net loss of INR1.11bn in the corresponding period of the previous fiscal. Net income advanced 24.9 per cent YoY to INR14.61bn from INR11.69bn. In the full-year period, the company’s EBITDA was up 35 per cent YoY to INR8.3bn from INR6.13bn in the FY19-20. Profit after tax also improved to INR2.22bn from a loss of INR360m.

India Cements returns to profit in 3Q

28 January 2021, Published under Cement News

India Cements has reported an INR693m (US$9.48m) net profit for the October-December 2020 period, compared to an INR94.3m net loss in the year-ago quarter. Revenue fell 4.8 per cent YoY to INR11.84bn from INR12.44bn. The top line of the company was largely impacted by the delayed effects of COVID-19, with most of the incremental demand for cement coming from the east, central and northern regions of India.

Damani family increases stake in India Cements

19 January 2021, Published under Cement News

Radhakishan Damani and Gopikishan Damani have increased their stake in India Cements during the October-December 2020 quarter. Radhakishan Damani increased his stake by 0.54 per cent, now holding an 11.34 per cent stake in the company against 10.8 per cent at the end of the July-September quarter. At the same time, his brother Gopikishan Damani now owns 8.46 per cent of the total paid-up capital in the company, up from 8.26 per cent in the 2QFY20-21. In addition, together the brothers ...

New cement association formed for south India

13 January 2021, Published under Cement News

Cement manufacturers in India have formed an association exclusively for southern India. The newly-formed South India Cement Manufacturers' Association (SICMA) is headed by N Srinivasan, vice-chairman and MD of India Cements, while Ravinder Reddy, director of Bharathi Cements, will be vice-president of the association. According to Mr Srinivasan, the formation of a south Indian body is required due to the size of the country and the efforts of various state governments to boost infrastruc...

India Cements sees rise in profit for the 2QFY20-21

06 November 2020, Published under Cement News

India Cements has reported a rise in profit to INR714.3m (US$9.63m) for the second quarter of the FY20-21, compared to INR87.2m in the year-ago period. However, the company’s revenue declined 14 per cent YoY to INR10.69bn from INR12.46m. With the backdrop of a decline in demand, the overall sales volumes of clinker and cement decreased to 2.107Mt against 2.667Mt in the same quarter of the previous year. Despite this, EBIDTA surged 60 per cent YoY to INR2.4bn from INR1.5bn in the 2QFY19...

India Cements expects improvement

29 September 2020, Published under Cement News

India Cements’ Managing Director, N Srinivasan, has announced that the company expects an improvement in performance going forwards. "With further relaxation of lockdown measures, there are expectations of increased public spending on rural infrastructure, irrigation, road building and other projects. This, along with a pick-up in individual home building and construction, is expected to improve cement demand," said the MD. Improving conditions in its key markets, such as in Andhra Pra...

India Cements begins transporting fly ash by rail

11 September 2020, Published under Cement News

India Cements’ plant in Chilamkur, Andhra Pradesh, has started loading wet fly ash for another plant in Vishnupuram, Telangana. This marks the first time that fly ash is being loaded by railways from this plant, as the company used to transport the material through roadways. Freight customers currently receive a 40 per cent concession on the normal tariff rates (NTR) if they load fly ash either in bagged or in loose/bulk condition through open wagons.

India Cements post 77% drop in 1Q net profit

28 July 2020, Published under Cement News

India Cements reported a 76.5 per cent fall in its net profit to INR169.6m (US$2.3m) in the first quarter of FY20-21 from INR722.1m in the 1QFY19-20. Total income declined 48.3 per cent to INR7.603bn in the 1QFY20-21 from INR14.72m in the year-ago period. EBITDA reached iNR1.59bn despite a steep drop in volumes due to the COVID-19 pandemic. “By first quarter results, it is just like reaching at the crossroads. We have dealt with the COVID pandemic, we have neither asked any employees to ...