Cement News tagged under: India
Bangladesh cement exports rise by 24% in 11MFY17-1807 June 2018, Published under Cement NewsBangladesh's cement industry export revenues saw a growth of 24.01 per cent during the first 11 months of FY17-18 (July 2017-May 2018), says data released by Export Promotion Bureau (EPB). The country exported cement and other materials worth of US$11.88m during the 11MFY17-18, compared to US$9.58m earned in the year-ago corresponding months. This represent a growth of over 24 per cent in exports YoY with India being the main destination for cement exports. The export figure also incl... |
Orient Cement announces expansion plans06 June 2018, Published under Cement NewsIndia’s Orient Cement has announced plans to invest INR36bn (US$536.8m) over the next five years to expand its existing production capacity to 15Mta from 8Mta, with investments for the expansion to begin in FY20, according to Mint. The company has applied for environmental clearance to expand clinker and grinding capacity in Devapur, Telangana, and Chittapur, Karnataka, alongside plans to construct additional grinding capacity in the eastern market. The expansion plans are expected to be co... |
Indian cement sector receives new investment04 June 2018, Published under Cement NewsThe Indian cement sector is receiving fresh investment as capacity utilisation rates increase, with at least six companies at various stages of announcing or implementing expansion plans, according to the Business Standard. Dalmia Bharat has recently announced plans for 8Mta of new capacity in Odisha, eastern India, at an investment cost of INR37.2bn (US$554.7m). "Looking at the demand for our premium products, we decided to add capacity and strengthen our leadership in east India. For... |
Orient Cement terminates agreement with Jaypee Group firms31 May 2018, Published under Cement NewsIndia’s Orient Cement has terminated the agreement to acquire two assets, Bhilai Jaypee Cement Ltd and the Nigrie cement grinding unit, from Jaypee Group firms for a total investment of INR19.46bn (US$288.23m), according to the Hindu Business Line. Orient Cement had signed a share purchase agreement (SPA) with Jaiprakash Associates Ltd (JAL) for 74 per cent equity shares of Bhilai Jaypee Cement. Furthermore, the company had signed a business transfer agreement (BTA) with Jaiprakash Power V... |
Prism Cement reports 13% net sales increase in 4QFY1830 May 2018, Published under Cement NewsIndia’s Prism Cement Ltd has reported a 13.4 per cent YoY increase in net sales to INR16.14bn (US$238.94m) for the 4QFY18. EBITDA surged 40.3 per cent to INR1.69bn, while its EBITDA margin expanded to 10.6 per cent. However, profit after tax decreased 10.6 per cent to INR627m. The cement sector saw sales volume growth to 1.7Mt in the quarter, according to India Infoline. EBITDA/t increased to INR819/t from INR580/t of the year-ago period. |
Burnpur Cement announces net loss in FY1830 May 2018, Published under Cement NewsIndia’s Burnpur Cement reported a INR39.5m (US$585,316) net loss in the quarter ending 31 March 2018, improving from the INR233.1m net loss of the year-ago period. Furthermore, sales increased 419.8 per cent to INR186.1m from INR35.8m. In the full-year FY18 period, the company recorded a INR444.9m net loss (FY17: INR597.7m). However, sales decreased 43.4 per cent to INR420.6m (FY17: INR743.4m). |
India Cements reports 56% slide in FY17-18 profits29 May 2018, Published under Cement NewsIndia Cements Ltd reported a 56 per cent fall in net profits for the year ending 31 March 2018. Consolidated net profit decreased to INR707.2m, down from INR1.631bn in the previous financial year. Revenues dropped by seven per cent from INR58.802bn in FY16-17 to INR54.567bn one year later. India Cements Vice-Chairman and Managing Director, N Srinivasan, attributed the slide in profits to a reduction of INR200/t in cement prices and higher fuel, energy and other production costs. Ho... |
Saurashtra Cement records 43% net sales increase29 May 2018, Published under Cement NewsIndia's Saurashtra Cement Ltd has reported a 43 per cent YoY increase in net sales for the 4QFY18, rising to INR1.82bn (US$26.7m) from INR1.27bn in the year-ago period. Net profit saw a 486.2 per cent surge in the same period to finish at INR260m, with the result attributed to a tax credit. In the full-year period ending 31 March 2018, the company reported a 12.6 per cent YoY rise in net sales, while net profit advanced 349.4 per cent to INR139m. |
Grasim looks to invest INR59bn in modernising its cement plants25 May 2018, Published under Cement NewsIndia’s Grasim Industries will invest over INR130bn (US$1.9bn) in its cement and textiles businesses over the next 24-36 months, as the company looks to increase capacity and modernise production, according to a senior official of the group. The company, including its subsidiary, UltraTech, will invest INR59bn in modernising its existing cement plants, while also carrying out environmental upgrades and increasing the capacity of the assets acquired from Jaiprakash Associates. Business res... |
Ramco Cements reports 11% revenue increase in FY1824 May 2018, Published under Cement NewsRamco Cements Ltd has announced an 11 per cent YoY increase in revenue for FY18, rising to INR44.43bn (US$649.71m) from INR39.93bn of the previous year. However, its stand-alone profit after tax fell 14 per cent to INR5.56bn (FY17: INR6.49bn). In the same period, the company reported an 11.5 per cent rise in cement sales to 9.31Mt. Upcoming projects Ramco Cements also noted that its upcoming capacity expansion projects will all be commissioned in the 2019-20 period. This includes the thir... |