Cement News tagged under: India
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... |
India: UltraTech’s profits rise to US$109m for 1Q1629 April 2016, Published under Cement NewsUltraTech Cement’s quarterly earnings statement for 1Q2016 show consolidated net profit growth of 10 per cent reaching INR7.23bn (US$109m) for the year to March, according to a report in Mint. Capacity utilisation was also higher in 1Q2016, rising by five per cent to 84 per cent. Volume sales rose by 15 per cent YoY, but revenues increased more slowly – by five per cent – due to declining prices. UltraTech’s EBITDA grew by just three per cent YoY despite improvements in cost efficiencies.... |
Ambuja Cements reports 4.4% profit fall29 April 2016, Published under Cement NewsIndia’s Ambuja Cements has reported a 4.4 per cent fall in net profit, which reached INR3.038bn (US$45.6m) in 1Q16. In the first quarter of 2015, net profit reached INR3.177bn. The company’s income has decreased by 0.89 per cent at INR25.809bn for quarter under review as compared to INR25.581bn for the quarter ended 31 March 2015. Net sales declined slipped by 0.3 per cent to INR24.18bn in 4QFY16 as against INR24.25bn in the corresponding quarter last year, according to a company statemen... |
India: government approval for new UltraTech plants at Nawalgarh and Jaitaran28 April 2016, Published under Cement NewsThe Jaipur government cleared the construction of a new 3.3Mta cement unit at Nawalgarh (Jhunjhnu) by UltraTech Cement Ltd. "Investment of worth INR3000 crore [INR30bn/US$451m] will be made and around 1000 people will get direct and indirect employment in this project. It will also set up new cement unit of 2.2Mta capacity and captive power plant at Jaitaran (Pali). The company will invest INR2100 crore and around 750 people to get direct and indirect employment," said the minister. |