Cement News tagged under: India
India: Positive outlook for growth, but challenges remain20 May 2016, Published under Cement NewsCement consumption in India doubled between 2005 and 2015, but still lags behind China’s at a comparable stage of development. In 2001, the World Bank calculations put China’s GDP per capita at US$1212 in inflation-adjusted terms. Using the same methodology, India’s current GDP per capita is slightly higher than China’s was then: in 2014, India’s GDP per capita reached US$1234. Do these figures suggest that India is a decade or so away from exercising the same sort of economic muscle that... |
India: JK Lakshmi Cement 4Q net profit soars19 May 2016, Published under Cement NewsJK Lakshmi Cement’s net profit soared in the quarter ended 31 March 2016 from INR60.5m (US$ 0.90m) to INR483.8m YoY. Total 4Q revenues of the company jumped 27 per cent from INR5.782bn in FY14-15 to INR7.351bn. The commissioning of the Durg plant in March 2015 helped production increase by 42 per cent in the quarter. "Company's steep growth in production and sales along with its relentless efforts to improve efficiency and cutting operation cost has enabled the firm to post profitabil... |
India: Adilabad cement plant could reopen13 May 2016, Published under Cement NewsA closed cement factory at Adilabad will be the discussion of a possible reopening as Union Heavy Industry Minister Anant Geete is set to hold a meeting with officials of the Telangana government and the Cement Corporation of India (CCI). The meeting is expected be held in June at Hyderabad or New Delhi as per the assurance given by the Minister on Thursday to a team comprising the Telangana State Forest and Housing Ministers, Jogu Ramanna and A Indrakaran Reddy, Adilabad MP G Nagesh, and ... |
LafargeHolcim: cement volumes up 1.4% but revenues flat12 May 2016, Published under Cement NewsIn its results for 1Q16, LafargeHolcim announced that cement volume sales rose by 1.4 per cent YoY with the Asia-Pacific region accounting for most of the improvement. Like-for-like revenues were almost unchanged on 1Q15, rising by just 0.1 per cent to stand at CHF6.062bn (US$6.244bn). In the earnings statement, LarfargeHolcim cited “challenging” conditions in Nigeria, Brazil and India as the reason for slow growth. The company also noted that the first quarter typically saw less activity... |
India: ECO Cement to produce for Prism Cement11 May 2016, Published under Cement NewsCogencis EquityWire reports that ECO Cement (ECL) and Prism Cement have reached an agreement whereby the former will manufacture and supply cement to the latter. "The arrangement with ECL is expected to help the company optimise its logistic costs as well as improve local availability in its strategic markets of Bihar," Prism Cement said. ECL operates a cement-grinding plant with a capacity of 0.6Mta in Bihar's Bhabhua district. |
India: Sagar Cements ordered to stop mining in Sulthanpur forest10 May 2016, Published under Cement NewsSagar Cements have been ordered by the National Green Tribunal (NGT) to cease mining activity in Sulthanpur forest in Telangana following a complaint that the company was encroaching on forest land. According to reports in the Hindu, Sagar have been accused of illegally mining in the forest reserve. The Director of Mines and Geology has asked the firm to cease activity in the reserve area. The NGT has asked the director to submit an action taken report during the next hearing slated fo... |
India: Birla sees Q4 profit rise to US$17m09 May 2016, Published under Cement NewsBirla Corporation has released its earnings figures for the three months to 31 March 2016, during which time the firm achieved a profit of INR1.16bn (US$17.4m), up fourfold on a year earlier, the Hindu reports. Revenue for the quarter rose by nine per cent to INR8.7bn (US$131m). Full-year earnings saw total income rise by two per cent to INR32.7bn (US$492m), while profits were down 10.3 per cent at INR1.57bn (US$24m). Chairman, H V Lodha, said that both the cement and jute divisions pe... |
India: Grasim and UltraTech well positioned for growth09 May 2016, Published under Cement NewsGrasim Industries, a subsidiary of UltraTech, has announced impressive results and signs of a recovery in cement demand growth, which is estimated at ~11.5 per cent for the current quarter. Meanwhile, UltraTech outpaced the industry with domestic volume growth of 15 per cent. Revenue for the quarter was INR69.2bn (US$bn1.04bn) vis-à-vis INR65.95bn (US$991m) in 4Q15. EBITDA was up by three per cent at INR14.78bn. helped by enhanced volumes and lower fuel prices. Net profit was INR7.23bn co... |
India: Burnpur Cement to invest INR5bn in capacity expansion05 May 2016, Published under Cement NewsIndian cement producer Burnpur Cement plans to invest INR5bn (US$75m) to expand its production capacity to 3Mta by 2020. "Presently, our installed capacity stands at 0.6Mta and we are planning to enhance the capacity to 3Mta in the coming 3-4 years," said the company's vice chairman and managing director, Ashok Gutgutia. Burnpur Cement currently operates two 0.3Mta plants – one in Asansol, West Bengal, and the other in Patratu, Jharkhand. The company plans to build a 2Mta greenfield works ... |
India: mining law changed to assist cement mergers03 May 2016, Published under Cement NewsThe upper house of India’s parliament on Monday approved an amendment to the mining law, allowing the transfer of mines from sellers to buyers in a victory for the State Bank of India (SBI) that had lobbied for the change. Mines Secretary, Balvinder Kumar, told Reuters the changes were mainly aimed at helping companies sell limestone mining licences along with their cement plants. It could also facilitate a merger of the Indian assets of France’s Lafarge and Switzerland’s Holcim after a... |