Cement News tagged under: India
CCI finds six companies have formed a cartel14 February 2018, Published under Cement NewsIn a preliminary investigation, the Competition Commission of India (CCI) has found that six cement companies have formed a cartel. Although this enquiry focussed on the northeast region it will widen to other locations, reports the Business Standard. "In fresh investigations, six large cement manufacturing firms have been found to be forming a cartel," said a source close to the development. In 2016, 11 companies and the Cement Manufacturers Association were issued a total penalty of ... |
Prism Cement posts increase in net profits14 February 2018, Published under Cement NewsPrism Cement has posted its results for the quarter ended 31 December 2017. The company reached a net profit of INR148.5m (US$2.31m), compared to a loss of INR470m in the year-ago period. The total net sales of the company advanced to INR12.96bn from INR12.34bn, according to Reuters. |
Mangalam records 8% revenue increase13 February 2018, Published under Cement NewsIndia-based Mangalam Cement has submitted its results for the quarter ending December 2017, which feature a 46 per cent YoY decrease in net profit to INR27m (US$420,126) from INR58.5m. However, revenue has increased eight per cent to INR2.92bn from INR2.7bn of the year-ago period. The company has also received approval to construct a 11MW waste heat recovery unit at its plant in Morak, Rajasthan, according to Reuters. |
India Cement cracks down on fixed costs13 February 2018, Published under Cement NewsIndia Cements reported a net profit of INR152.4m in the quarter ended 31 December 2017, which represents a 35.6 per cent decrease QoQ from INR236.7m, according to the Business Standard. In 3QFY16-17 net profit reached INR353.4m. India Cements was able to contain the loss by controlling fixed costs. The company closed down the infrastructure division and partially shut down its shipping division. Changes were also made to its accounting policy. Total overheads fell to INR770m from INR1... |
Birla reports 13% rise in revenues, sees net loss narrow in 3QFY16-1712 February 2018, Published under Cement NewsBirla Corp reported a consolidated net loss of INR-218.4m (US$-3.4m) for the quarter ended 31 December 2017, when compared to INR-412.9m in the equivalent period a year ago. Revenue from its operations was INR13.893bn, up 12.7 per cent YoY from INR12.324bn in the 3QFY16-17. EBITDA increased 7.9 per cent YoY from INR1.417bn to INR1.528bn in the quarter ending 31 December 2017. The company attributed the 3Q loss to the “non-availability of railway rakes, as these were diverted for ca... |
Sri Chakra Cement slides into loss12 February 2018, Published under Cement NewsSri Chakra Cement, based in the Indian state of Andhra Pradesh, has reported a net loss in INR-19.1m (US$ 297,038) in 3QFY17-18 ended 31 December 2017 when compared with INR81m in the previous quarter. The company’s net revenue declined by 8.7 per cent to INR519.7m in the October-December quarter. In 3QFY16-17 net revenues reached INR568.9m. Operating expenses during the 3QFy17-18 increased by 14 per cent to INR528.4m from INR463.7m YoY while other income more than tripled from INR... |
Construction activity to be disrupted in Andhra Pradesh12 February 2018, Published under Cement NewsConstruction activity in Andhra Pradesh, India is expected to face disruption after the cost of cement has risen by INR20-30 (US$0.3-0.4)/50kg bag. The price hike, which has taken place over the last two months, includes other construction materials such as steel and hardware materials. Over 5000t of cement is purchased every month in the Amaravati region of the state, according to The Hans India. The region has seen a price increase from INR230-250/50kg bag to INR260-290/50kg bag. GS... |
ACC releases 2017 results09 February 2018, Published under Cement NewsACC has released its consolidated financial results for the final quarter and full-year period ended 31 December 2017. Cement sales increased 14 per cent in 2017, to 26.21Mt from 22.99Mt of the previous year. Net sales reached INR129bn (US$2bn) in the full-year period, compared to INR107.7bn seen in 2016. Operating EBITDA advanced 29 per cent YoY to INR19.1bn from INR14.7bn. 4Q17 Cement sales in the 4Q17 registered growth of 27 per cent YoY to INR6.92Mt, backed by a stronger focus on pr... |
Slow Tamil Nadu sales affect Ramco 3Q net profit07 February 2018, Published under Cement NewsRamco Cements has seen its 3QFY17-18 net profit dragged down on the back of lacklustre demand in its core market of Tamil Nadu, India. Net profit fell to INR1.227bn from INR1.519bn in the quarter ended 31 December 2016, according to The Hindu newspaper. Revenues edged up from INR9.647bn to INR10.615bn over the period. The company’s CEO, AV Dharmakrishnan, said with demand soft in Tamil Nadu, Ramco has had to look increasingly further afield for sales and he reported the eastern region is ... |
UltraTech to be supplied with alternative fuel05 February 2018, Published under Cement NewsThe Tiruchi City Municipal Corporation (TCMC) has set an agreement with an environmental organisation to supply alternative fuel (AF) processed from fresh dry waste to UltraTech’s Ariyalur facility. While preventing a build-up of waste in its dump, the corporation’s project will also generate 12,000t of AF over the next two years, according to The Times of India. TCMC has contracted IL&FS Environmental Infrastructure & Services Ltd to segregate the waste. Only waste having a calorific val... |