Cement News tagged under: India
India Cements: 1Q16 EBITDA edges up to INR2.05bn19 August 2016, Published under Cement NewsIndia Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing has picked up in June and July, according N Srinivasan, India Cements' vice-chairman and MD. Durin... |
India: 10 Gebr Pfeiffer mills for Shree Cement18 August 2016, Published under Cement NewsKolkata-based Shree Cement, one of Gebr Pfeiffer’s best customers, has placed an order for 10 mills. This deal will support the Shree Cement’s continuing expansion strategy, which aims to distribute several cement works across India and produce cement in stand-alone grinding terminals. Gebr Pfeiffer will supply MVR 6000 R-6 raw mills, each with a capacity of about 550tph and an installed drive power of 6700kW. The order will come equipped with MPS 2800 BK coal mills that feature a 720kW d... |
Sagar Cement to invest US$22m in new capacity18 August 2016, Published under Cement NewsIndia-based cement producer Sagar Cement has announced that it plans to spend INR1.45bn (US$22m) over the next two years to expand its operations, the Hindu reports. The sum includes INR660m (US$10m) to purchase a 1.8Mta grinding unit currently owned by Toshali Cements in Bayyavaram, Andhra Pradesh. Sreekanth Reddy, Executive Director, Sagar Cement, said: “This acquisition will bring down logistics cost and facilitate Sagar to introduce slag cement in parts of Andhra Pradesh and Odisha”. ... |
India: reason for optimism?17 August 2016, Published under Cement NewsThe first quarter of 2016 provided some basis for optimism for India’s cement producers as the sector reported double-digit expansion. However, in the months ahead, the monsoon season and the perennial overcapacity of the industry continue to haunt profitability. The amendment of The Mines and Minerals (Development and Regulation) Act is expected to facilitate M&A in the cement sector The first quarter of 2016 has seen India’s cement industry make a positive start to the year... |
India: JK Lakshmi to expand Rajasthan mine17 August 2016, Published under Cement NewsJK Lakshmi Cement has received environmental clearance for expansion of its limestone mine output in Rajasthan, entailing an investment of INR1.20bn (US$17.94m). The mined limestone will be supplied to a cement plant in Sirohi, says India Infoline news service. "The Environment Ministry has examined the proposal of JK Lakshmi Cement and granted the environment clearance for expansion of its limestone mine in Rajasthan," a senior government official said. The company's proposal is to enh... |
New BOPP film for extra bag protection17 August 2016, Published under Cement NewsCosmo Films, a speciality films manufacturer, has launched a special biaxially oriented polypropylene film (BOPP) to provide extra protection for cement bags. The BOPP film has a 100 per cent polyolefin structure which is designed to protect the bag's content by adding a moisture barrier. It can also be used to laminate block bottom cement bags. CEO of Cosmo Films, Pankaj Poddar said, "With only 15 per cent of the cement being packed in block bottom bags, there is a huge potential in conv... |
India: Shree Cement profits hit US$76m in 1QFY16-1715 August 2016, Published under Cement NewsIn its trading results for the first quarter of FY2016-17, Shree Cement has seen its profits improve to INR5.1bn (US$76m). This represents an increase of 388 per cent on the same period last year. Cement sector revenues rose by 51 per cent to INR22.9bn (US$342m). Declining power and fuel costs helped Shree’s bottom line. These fell by 21 per cent to INR3.3bn (US$49m). The company has also announced plans to expand its Aurangabad grinding unit from its current capacity of 3.6Mta to 5.6M... |
India: Birla Corporation sees Q1 cement profits rise 441%11 August 2016, Published under Cement NewsBirla Corporation has released its quarterly financial results for the three months to the end of June 2016. During this period, Birla’s profits from its cement operations rose by 441 per cent compared to those from a year earlier, standing at INR1.1bn (US$16.3m). Cement revenues were also up, albeit not as spectacularly. In 1QFY16-17 total revenues were INR8.3bn (US$125m), an increase of 17 per cent YoY. Cement volumes were also higher, with 2.17Mt dispatched as compared to the 1.96Mt... |
India: Mangalam Cement conducts new milling trial11 August 2016, Published under Cement NewsMangalam Cement has undertaken a trial run of its new 0.75Mta grinding unit, located at Aligarh in Uttar Pradesh. The new unit brings Mangalam’s capacity up to 4.0Mta. |
India: Prism Cement returns to profit for 1QFY16-1710 August 2016, Published under Cement NewsPrism Cement has announced its trading figures for the first quarter of the 2016-17 financial year, CNBC’s MoneyControl reports. In the three months to June the firm made a net profit of INR156.5m (US$2.3m) as compared to a loss of INR149m (US$2.2m) in the same period last year. Overall revenue was down by 0.6 per cent at INR14bn (US$211m), but expenses declined more rapidly, falling by 2.9 per cent to INR13.5bn (US$202m). Looking to the future, the company said: "While the near term d... |