Cement News tagged under: India
Ambuja Cement's strategy pays off27 October 2017, Published under Cement NewsThis week the 3Q17 results have been flooding in for Indian cement manufacturers with Lafarge-Holcim-owned ACC and Ambuja Cement reporting their results and seeing net profits rise to nearly double-digits in the latter's case. "Ambuja Cement has delivered a strong set of results. We have focussed on building brand equity, and providing value to our customers through differentiated offerings for individual home builders, building and infrastructure segments," said Ajay Kapur, managing dire... |
Ambuja Cements sees 9.7% net profit rise in 3Q25 October 2017, Published under Cement NewsLafargeHolcim-owned Ambuja Cements' standalone unaudited income remained stable in 3Q17 at INR24.73bn (US$379.8m) when compared with the previous year (3Q16: INR24.72bn) but noted a 25.4 per cent drop when compared with 2Q17, when it reached INR33.16bn. Profit before tax rose 11.3 per cent YoY to INR3.36bn from INR30.02bn but saw a 38.6 per cent decrease QoQ (2Q17: INR5.47bn) while net profit reached INR2.72bn, up 9.7 per cent from INR2.48bn in 3Q16, but down 31.3 per cent from INR3.92bn ... |
Government may step in to outsource the Samba plant25 October 2017, Published under Cement NewsIndia's government is considering to outsource the operation of the Samba cement plant, part of JK Cement Group. "The delay in its launching [the Samba plant] has been attributed to inordinate delay on the release of equity by the government and also delay in the installation of receiving station by PDP," sources maintained. An official of the JK Cements Ltd told the Kashmir Observer that the final decision is yet to be taken, but the government may step in to outsource the Samba pla... |
UltraTech Cement sales pass US$1bn in quarter ended 30 September 201719 October 2017, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla Group Company, has announced its unaudited financial results for the quarter ended 30 September 2017. Net sales stood at INR68,400m (US$1.051bn) as compared to INR57,080m in the corresponding period of the previous year. Profit before interest, depreciation and tax was INR15,500m higher by 13 per cent than the INR13,780m in the corresponding period of the previous year. Increased depreciation and higher interest cost relating to the acquired cement pl... |
ACC 3Q17 sales volume rises 18%18 October 2017, Published under Cement NewsACC delivered sales volume growth of 18 per cent in the 3Q17 (July-September 2017) compared to five per cent in 3Q16. Sales volume reached 19.29Mt for the first nine months of 2017. The stabilisation of Jamul and Sindri cement plant capacities have contributed to this growth. Premium product sales rose by 18 per cent YoY. "ACC's results demonstrate our capacity to respond quickly and resolutely to changing market dynamics and execute strategies with focus and determination. Our approach... |
ACC appoint Mr Jenisch as new director to the board18 October 2017, Published under Cement NewsACC Ltd has appointed Mr Jan Jenisch as an Additional Director to the Board as a Non-Executive, Non-Independent Director from 17 October 2017. Mr Jenisch was born in Germany and joined LafargeHoclim as CEO on 1 Septeber 2017. Mr Jenish was also elected as Deputy Chairman of ACC Ltd. |
JSW Cement Ltd plots 20Mta capacity by 2019 with IPO17 October 2017, Published under Cement NewsJSW Cement Ltd signalled its intention to expand capacity to 20Mta from its current 12.5Mta and launch an initial public offering (IPO) sometime after the 2019 general election, the company's Managing Director, Parth Jindal, said on Monday. Mr Jindal said that the capital raised through the IPO will be used to further expand capacity as the company aims to be one of the top three cement manufacturers in the country. The capacity expansion will be implemented by setting up a new 1.2Mta ... |
Jalan Cement faces forensic audit16 October 2017, Published under Cement NewsSecurities and Exchange Board of India (SEBI) has ordered for a forensic audit of Jalan Cement Works, after finding prima facie evidence of misrepresentation of financials by them. The watchdog has ordered the appointment of independent forensic auditors to verify any misuse of the books of accounts or funds as well as any misrepresentation including of financials and business of the firm. SEBI is currently investingating 331 'suspected shell companies'. With regard to Jalan Cement Wor... |
Himachal cement companies shelve price hike plans13 October 2017, Published under Cement NewsAn intervention by Chief Minister Virbhadra Singh has forced two subsidiaries of LafargeHolcim with cement plants in Himachal Pradesh to reduce their prices by INR5 per bag in the state. Ambuja and ACC have agreed in principle to reduce the price with immediate effect, a government spokesperson said. The cement price was enhanced from INR360/bag (US$5.54) by the companies on Tuesday. UltraTech Cement Ltd, which took over Jaypee Cement, was also directed not to enhance the rate, an official... |
Khamarnaugaon plant idea opposed by villagers12 October 2017, Published under Cement NewsAditya Birla's proposed UltraTech cement plant at Khamarnuagaon under Cuttack district’s Athagarh block has witnessed protests by locals despite obtaining required 90 acres from the government to start plant there. Villagers of Gurudijhatia and Khamarnuagaon alleged that they would lose almost all grazing fields for cattle if a cement plant was built in the area. |