Cement News tagged under: India
Birla 2Q16 net profit more than doubles24 November 2016, Published under Cement NewsBirla Corporation have reported a net profit of INR584m (US$8.49m) for the quarter ended 30 September 2016 compared to INR232m for the same period last year. Total income declined 4.3 per cent to INR8.86bn in the July-September quarter from INR9.27bn in the previous year. Total expenses also fell, registering at INR8.43bn versus INR8.99bn in the corresponding quarter last year. In the same period, Birla Corp completed its acquisition of Reliance Infrastructure’s Reliance Cement Company... |
India: COMPAT stays UltraTech’s CCI penalty23 November 2016, Published under Cement NewsThe Competition Appellate Tribunal (COMPAT) has granted a stay on an order passed by the Competition Commmission of India (CCI) against UltraTech Cement on deposit of 10 per cent of the penalty amount. CCI handed UltraTech a INR11.75bn (US$171.6m) penalty in August 2016 for supporting cartelisation. In total the CCI handed out penalties amounting to over INR67bn to 11 cement firms for this matter, including UltraTech, Ambuja, ACC, JK Cement and Ramco, as well as the Cement Manufacturers A... |
India Cements profit up 62%21 November 2016, Published under Cement NewsFor the quarter ended 30 September 2016, India Cements Ltd (ICL) reported a 62 per cent increase in standalone net profit to INR624m (US$9.17m) compared to 38.5 in the same period last year. Total standalone net income rose 6.9 per cent to INR13.14bn in the period under review, up from INR12.29bn the previous year. Total expenses were 7.9 per cent higher at INR11.35bn in the period. Meanwhile, the Competition Commission of India (CCI) has imposed a fresh penalty of INR1.87bn on the compan... |
India: LafargeHolcim increases stake in Ambuja and ACC16 November 2016, Published under Cement NewsLafargeHolcim has increased its shareholding in Ambuja Cement through the purchase of an additional 39.1m shares, increasing the Franco-Swiss firm’s stake by 1.49 per cent to 63.1 per cent. LafargeHolcim also increased its stake in ACC – since mid-2016 a subsidiary of Ambuja – with the purchase of 7.9m shares, taking its stake to 4.5 per cent. The cost of the two purchases amounts to CHF325m (US$324m). |
India: Dalmia Cement commits to 100% renewable power14 November 2016, Published under Cement NewsDalmia Cement Ltd is the first cement company in India to join RE100, a global collaborative initiative of the world’s most influential companies committed to running their operations with 100 per cent renewable power, led by The Climate Group in partnership with CDP. Following the addition of 8MW solar photovoltaic capacity for its captive use, the company said it would aim to raise its share of renewable energy consumption fourfold by 2030 when compared with 2015. Dalmia currently sour... |
India: Orient Cement posts US$4.4m Q3 loss10 November 2016, Published under Cement NewsOrient Cement has recorded a loss of INR294m (US$4.4m) for the quarter to the end of September 2016, CNBC’s Money Control reports. The loss stands in contrast to the same period last year, in which Orient made a profit of INR280m. The current quarter did see revenues rise by 11 per cent to INR4.45bn. “Our markets and plants underwent some difficulty because of monsoon rains. It led to operational challenges,” said Deepak Khetrapal the firm’s MD and CEO. Khetrapal added that volumes ... |
India: Sanghi Industries INR12bn expansion09 November 2016, Published under Cement NewsSanghi Industries Ltd is planning to further develop its capacity following the 1.2Mta expansion of its plant in Kutch district. Production capacity at the Kutch plant recently rose to 4.1Mta. For the second phase of capacity augmentation, Sanghi Industries is looking to raise INR12bn (US$180.6m) to further increase capacity to 8.1Mta. The company is also seeking to establish a 15MW WHR system, expected to come online in two years. “Around [INR12bn] investment has been envisaged for the e... |
India: Ramco sees 45.6% increase in 2QFY16-17 net profit09 November 2016, Published under Cement NewsRamco Cements reported a 45.6 per cent rise in net profit to INR2.07bn in the second quarter ended 30 September 2016 compared to INR1.42bn for the same quarter a year ago. The company’s income increased 13.8 per cent from INR10.32bn in 2QFY15-16 to INR11.74bn in the 2QFY16-17. |
India: demand set to rise in Telangana and Andhra Pradesh09 November 2016, Published under Cement NewsManufacturers in the southern Indian states of Telangana and Andhra Pradesh have said that they expect cement demand to increase by around 20 per cent over the next 2-3 years, reports The Hindu newspaper. “The ongoing infrastructure projects in the two states along with government demand for welfare schemes are expected to drive growth for next two-three years,” said S Sambasiva Rao, executive director, My Home Industries, which sells Maha Cement. Current demand in the two states is es... |
India: Shree Cement Q2 net profit up 18%08 November 2016, Published under Cement NewsShree Cement reported an 18.3 per cent YoY rise in its standalone net profit for the quarter ended 30 September 2016. Standalone net profit stood at INR2.91bn (US$43.7m) in the quarter compared to INR2.46bn in the same period last year. Total standalone income was up 17.6 per cent to INR22.5bn in the quarter, compared to INR19.1bn last year. Total expenses registered higher at INR20.3bn against INR17.4bn in the previous corresponding quarter. The company’s board of directors also recen... |