Cement News tagged under: India
Ambuja Cement profits up 80% as Indian profits climb 40% overall04 November 2016, Published under Cement NewsAmbuja Cement has released its Q3 earnings, which show that net profits for the company were up by 80 per cent YoY at INR2.77bn (US$41.5m). Revenues were down slightly, falling by 4.3 per cent to INR20bn, but dividend income from its shareholding in ACC and falling costs, particularly in terms of power and fuel (down 10 per cent) helped to improve the company’s bottom line. Ambuja reported that diesel costs rose over the period, but this was compensated for by an improved fuel mix. ... |
India: Dalmia Barat sees 20% volume growth in September04 November 2016, Published under Cement NewsDalmia Bharat managed 20 per cent volume growth in the July-September quarter compared with the industry's volume growth of two per cent. Due to higher demand, its market share in northeastern India improved to 22 per cent in the Jul-Sep quarter from 16 per cent in the previous year. In the south its market share improved by 100 basis points to eight per cent. Factors such as gain in the market share, entry into new markets and exports helped higher volume growth at the company, says E... |
India: Telangana State Housing Corporation signs cement price MoU03 November 2016, Published under Cement NewsThe State Housing Corporation of Telangana has signed a memorandum of understanding with local producers to fix the price of supplied cement at INR230/bag (US$3.45), the New India Express reports. The rate includes loading, transportation, unloading and all taxes. The average price of a bag of cement in India was INR285-290/bag at the beginning of the year, but substantially higher in Telangana and other southern states at around INR350/bag. The State Housing Corporation is currently u... |
India: JK Cement net profits climbs 182%01 November 2016, Published under Cement NewsOn a stand-alone basis, JK Cement’s net profit was reported at INR410m (US$6.14m) for the July-September quarter, a 182 per cent increase from the INR145.4m net profit recorded in the same period last year. Stand-alone total income for the period under review increased by seven per cent to INR10.76bn, up from INR10.08bn in the same period last year. Total expenses registered higher during the quarter, reaching INR9.61bn. Total expenses for the same period last year were reported at INR9.4... |
India: ACC reports 10% fall in cement deliveries in 3Q1631 October 2016, Published under Cement NewsThe Indian LafargeHolcim subsidiary ACC Ltd reported a 0.5 per cent reduction in cement deliveries for the first nine months of the year to 17.54Mt, while in the third quarter the reduction was a more notable 9.6 per cent to 5.07Mt. The turnover declined by 3.6 per cent to INR82.74bn (EUR1133.50m) while EBITDA came off by 7.4 per cent to INR11.65bn (EUR159.58m), but the pretax profit rose by 18.6 per cent to INR75.84bn (EUR103.9m). The new 2.79Mt clinker plant and the 1.1Mta grinding... |
OCL India 2Q net profit up 154% to INR860m27 October 2016, Published under Cement NewsOCL India Ltd reported a 154 per cent surge in in net profit to INR857.1m from INR336.9m for the quarter ended 30 September 2016 as the company derived a higher income from operations. The total income from operations of the Dalmia Group company increased to INR7.192bn from INR6.138bn in the year-ago period. The total expenses increased to INR6,164bn over INR5.72bn in the corresponding quarter previous fiscal. |
India: JK Lakshmi approves raising INR5bn27 October 2016, Published under Cement NewsA JK Lakshmi Cement board meeting held on 26 October approved the raising of INR5bn (US$74.7m) through the issuance of non-convertible debentures (NCDs) on private placement basis. The company issued a statement to this effect to the BSE. JK Lakshmi Cement operates integrated plants at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat in Gujarat and Jharli (Haryana). The company boasts an 8.4Mta capacity which is scheduled to increase to 12Mta. |
India: Jaiprakash Associates shareholders agree to sale25 October 2016, Published under Cement NewsJaiprakash Associates Ltd (JAL) on Monday said its shareholders have approved the sale of the firm's cement business to Aditya Birla Group's UltraTech Cement. Approval from Competition Commission of India (CCI) has been received and the next step involves seeking approval from the concerned High Court and the final approval from capital markets regulator. Earlier this year, the Aditya Birla Group firm announced acquisition of Jaiprakash Associates' cement plants with a total capacity of 2... |
India: production resumes at Malabar Cements25 October 2016, Published under Cement NewsMalabar Cements Ltd resumed production on Monday, 24 October, following the stoppage of its operations on 10 September due to the non-availability of raw materials. Production was able to resume by bringing in clinker the company had in stock at its logistics centre at Kochi Port. The stoppage resulted in a INR50m (US$ 747,559) loss, according to the Times of India. The shortage of raw materials came after Managing Director, K Pamakumar, was removed from his post last month after bein... |
India: Emami Cement hopes to add 15-20Mta in 3-5 years25 October 2016, Published under Cement NewsIndia-based Emami Cement has plans to construct new plants that will add 15-20Mta of capacity to its portfolio over the next 3-5 years, as reported by The Times of India. Director of Emami Cement, Aditya Agarwal, said, “We aim to be among the top three players in the cement industry. We expect our cement division's turnover to touch [INR25bn] in 2018-19.” The company, which began operations at its 5.5Mta Chhattisgarh plant in July this year, expects to register revenues of around INR5bn (... |