Cement News tagged under: India
India: Udaipur Cement Works sees 12.6 per cent YoY gain in Jul-Sep revenues09 November 2015, Published under Cement NewsUdaipur Cement Works reported total revenues of INR214.9m (US$3.24m) , down 4.3 per cent QoQ, but up 12.6 per cent YoY. The company also recorded a net profit of INR15.6m for the quarter ended September 2015, a significant improvement when compared with the previous quarter when a INR14.6m loss was posted as well as with the previous year’s Jul-Sep quarter, which saw a INR15m loss |
Plans to convert Binani Cement debt into equity09 November 2015, Published under Cement NewsLenders to India’s Binani Cement are planning to convert a total debt of INR30bn in the company to equity. The debt-to-equity conversion is being contemplated under the strategic debt restructuring (SDR) guidelines of the Reserve Bank of India (RBI). The consortium of 18 banks led by the Central Bank of India are looking at converting the debt to equity, giving lenders a majority stake. "The banks are contemplating whether they should first try and turn around the company," a banker told ... |
UltraTech Cement included on the Indian Climate Disclosure Leadership Index05 November 2015, Published under Cement NewsUltraTech Cement announced that it has been identified as an Indian leader for the quality of climate change-related information that it has disclosed to investors and the global marketplace through CDP India, a not-for-profit organisation that drives sustainable economies. As a result, UltraTech Cement has been awarded a position on the Indian Climate Disclosure Leadership Index (CDLI), released this week in the India climate change report. The Indian cement major said it has earned it... |
Kumar Mangalam Birla appointed as Vice Chairman of Century Textiles05 November 2015, Published under Cement NewsKumar Mangalam Birla, chairman of the US$40bn Aditya Birla Group, has been appointed as Vice Chairman of Century Textiles and Industries. KM Birla is grandson of 94-year-old BK Birla, chairman of Century Textiles. In a filing to Bombay Stock Exchange, Century Textiles said that the decision had been taken at a meeting of the company’s board of directors. For the quarter that ended on 30 September 2015, Century Textiles posted a net loss of US$3.69m compared to a net profit of US$117,422 ... |
Reliance Infrastructure to sell its cement business, India05 November 2015, Published under Cement NewsReliance Infrastructure on Wednesday said it has decided to sell its cement manufacturing and road development businesses to focus on defence. "The 5.8Mta cement business and related assets will be disposed off through a formal process. The company has short-listed seven potential buyers from a total of 15 parties that submitted preliminary expressions of interest," according to the company. While Reliance has been talking of its plans of monetising assets, the board of the company approve... |
JK Cements reports 58% fall in 2Q net profit04 November 2015, Published under Cement NewsIndia-based JK Cements reported a 58 per cent fall in consolidated second-quarter net profit to US$2.09m. However, its total standalone income rose by five per cent to US$133m for the three months ending 30 September 2015. The company's total expenses grew to US$122m from US$11.7m. The company has an installed grey cement capacity of 10.5Mta. |
Shree Cement commissions Uttar Pradesh grinding plant02 November 2015, Published under Cement NewsShree Cement has commissioned a grinding plant at Bulandshahr in Uttar Pradesh on 30 October 2015, the company said in a statement to the Bombay Stock Exchange. The new facility has a cement capacity of 2Mta. |
ACC sees subdued July-Sept volumes and pricing21 October 2015, Published under Cement NewsLafargeHolcim Indian subsidiary ACC reported flat volumes and subdued selling prices for the July-September 2015 quarter as construction activity and cement demand remained weak during monsoon season. Turnover during the period stood at INR2740 crore, virtually flat from the same period of last year. Operating EBITDA fell to INR313.20 crore versus INR379.08 crores in July-Sept 2014. While sales remained flat, there was a reduction in energy costs. During the quarter, a provision was also m... |
India: Orient Cement reports on 'challenging' second quarter21 October 2015, Published under Cement NewsOrient Cement reported a 35.4 per cent YoY decline in 2QFY16 net profit to US$4.32m due to lower income and higher expenses and finance costs. Net sales for the three months to the end of September 2015 fell to US$54.7m in the quarter compared to US$59.2m in the same period of the previous years. The company's total expenditure rose to US$51m from US$49m in the same period of 2014. Deepak Khetrapal, managing director and CEO of Orient Cement said: "The quarter ended September 30 has... |
UltraTech Cement second-quarter sales ahead20 October 2015, Published under Cement NewsAditya Birla group company UltraTech Cement reported higher revenue and volume growth for the second quarter of FY16 as well as a better operational performance during the period. For the three months to the end of September 2015, standalone net sales edged ahead by 4.2 per cent to INR5621 crores compared to INR5379 crores a year earlier. Profit before interest, depreciation and tax rose 8.6 per cent to INR1033 crores. However, profit after tax fell 3.9 per cent to INR394 crore largely... |