Cement News tagged under: India
UltraTech reports 37% volume jump in 3QFY1819 January 2018, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla Group Company, has announced its unaudited financial results for the quarter ended 31 December 2017 (3QFY18). Net sales stood at INR78,970m (US$1.23bn) as compared to INR59,270m (US$145.4m) in the corresponding period of the previous year, the company statement read. EBITD was INR14,940m vis-à-vis INR12,800m in the corresponding period of the previous year. Profit after tax was INR4560m as against INR5950m in 3QFY17. On a standalone basis, net ... |
Star Cement sells 3% stake through open market transactions19 January 2018, Published under Cement NewsStar Cement has sold a 3.34 per cent stake in the company worth INR1.82bn (US$28.5m), according to Money Control. The sale was made through open market transactions by three promoters of the company. The shares were disposed at average price of INR130 each. SBI Mutual Fund also bought 15.3m shares, which translates to a 3.66 per cent stake of Star Cement. These shares were priced at INR129.9, making the total transaction worth INR1.99bn. |
Tata Steel launches branded LD slag product for clinker making19 January 2018, Published under Cement NewsTata Steel has launched two new products, Tata Aggreto and Tata Nirman, India's first branded Linz-Donawitz (LD) slag products for applications in road, fly ash brick and clinker making. This is the first foray by any domestic steel major in branding processed steel slag. Speaking on the launch of the brands, T V Narendran, CEO & MD, Tata Steel, said: "We at Tata Steel are extremely happy to have launched Tata Aggreto and Tata Nirman, which are designed to create value for customers, end u... |
UltraTech reports rise in net sales18 January 2018, Published under Cement NewsUltraTech Cement Ltd has announced that its net profit decreased by 25 per cent YoY to INR4.21bn (US$65.98m) in the October-December quarter of 2017. However, net sales of the company rose 35 per cent to INR75.8bn in the same period, according to Bloomberg. EBITDA increased by 13.9 per cent to INR12.6bn in the 3QFY18, when compared to the corresponding period of the previous financial year. "The quarter witnessed an increase in variable costs attributable to the rise in pet coke and coa... |
UltraTech to take waste of railway workshop17 January 2018, Published under Cement NewsUltraTech Cement has entered into an agreement with Golden Rock Railway Workshop based in Tamil Nadu, to take its waste for co-processing. The workshop expects to provide Ultratech with approximately 400t of zero-value non-hazardous waste over the next 3-6 months, according to The Hindu. "It is a win-win situation for both organisations as the zero-waste would serve as an alternative fuel in the cement kiln," said a senior workshop official. The waste had accumulated at the workshop pr... |
Dalmia Bharat begins using national waterways for exports16 January 2018, Published under Cement NewsDalmia Bharat Cement exported its first cement shipment of 200Mt from Pandu port to Dhubri on Friday, reports The Telegraph. The occasion marked Dalmia’s fifth brand anniversary in the northeast region of India, with the shipment being released by Mahendra Singhi, Group CEO, Dalmia Cement. The company is using national waterways, such as the Brahmaputra, to transport cement in the hope that it will reduce the cost of logistics. |
JSW Cement to bid on Binani Cement15 January 2018, Published under Cement NewsJSW Cement Ltd will partner with a global equity firm to bid for Binani Cement, according to The Hindu BusinessLine. It is expected that as many as 11 industry players, including Ultratech and Dalmia, will submit a bid for the company which is currently undergoing the bankruptcy process. "There are a lot of bidders and this is going to get aggressive because nobody wants to leave these assets; we would not want to leave these assets," said Sajjan Jindal, managing director, JSW Group. ... |
Beumer launches new product to Indian market11 January 2018, Published under Cement NewsBeumer India Pvt Ltd launched its new cement packing machine to the Indian market at an event held at the company’s production facility in Gurgaon last month. The machine was unveiled by Dr Detlev Rose, chief sales officer, Beumer Group. The Beumer fillpac® R is a rotary packer designed with improved weighing accuracy, auto-correction and auto-changeover features, according to the company. The efficiency of the machine has also been improved, with the fillpac® R now consuming less power an... |
Sagar Cement sees 65% sales increase08 January 2018, Published under Cement NewsSagar Cement (SCL) saw a 65 per cent rise in sales in December 2017 as the India-based company reported sales of 254,348Mt, compared with the year-ago period. The advance in sales volumes was from a low base, formed in December 2016 on the back of demonetisation. In addition, a robust offtake in key markets such as Andhra Pradesh and Telangana, which account for 45 per cent of the company’s sales, have offset muted demand from other states such as Karnataka, Kerala, Maharashtra and Tamil ... |
Builders' Association of India seeks cement regulator08 January 2018, Published under Cement NewsTo secure the smooth expansion of India's construction sector, the Builders' Association of India (BAI) highlighted the need for creating a cement regulator. Subcontractors in the construction sector are still levied a general sales tax (GST) of 18 per cent, according to the BAI, who emphasised the need to reduce the tax. The establishment of a cement regulatory authority will help control pricing and prevent cartelisation by cement producers, said B Seenaiah, BAI chief patron. “Th... |