Cement News tagged under: India
LH to sell two eastern Indian plants to Birla Corp17 August 2015, Published under Cement NewsLafargeHolcim announces that it has entered into a letter agreement with Birla Corp Ltd, subject to approval by the Competition Commission of India (CCI), for the divestment of certain assets in India for an enterprise value of INR50bn (approximately US$765.8m). The proceeds from the sale of the divestment business will be used to further reduce debt. As announced in April 2015, LafargeHolcim has received conditional clearance from the CCI for the merger. In that context, a package of ass... |
India Cements reports low demand in 2Q1513 August 2015, Published under Cement NewsSouth India's largest cement maker by volume, The India Cements Ltd, on Wednesday said its profits for the quarter ended June 2015 were INR4010m (US$617.2m) from a loss of INR2960m (US$25.5m) in the comparable quarter last year. Cement producers in south India have previously found profits hard to come by with excess capacity and falling demand. "It's a quarter where price stabilisation happened and a slightly better quarter, but poor demand," said MD of ICL, N Srinivasan. He said hat the... |
Pakistan monthly sales ahead despite heavy rains12 August 2015, Published under Cement NewsPakistan’s domestic cement dispatches increased by 4.19 per cent in July 2015 to 1.8Mt. Exports, however, declined by 7.45 per cent to 465,000t. Total cement dispatches during the first month of the current fiscal year reached 2.26Mt, a slight increase of 1.56 per cent YoY. The increase in domestic sales was achieved despite heavy rains that affected construction activity in many parts of the country. Dispatches in the North Zone reached 1.52Mt from 1.42Mt a year earlier. However, ... |
Pakistan export pressures continue through FY14-1510 August 2015, Published under Cement NewsPakistan exported 7.682Mt and earned US$443.63m in FY14-15 (July 2014 - June 2015) compared to 8.81Mt at US$508.15m, according to data from the country's Bureau of Statistics. The data translates to a fall of 12.88 per cent and 12.77 per cent in terms of quantity and revenue, respectively. Statistics show that exports to Afghanistan were down by 21.4 per cent to 2.87Mt compared to 3.65Mt during FY13-14. A spokesman for the All Pakistan Cement Manufacturers Association attributed the d... |
UltraTech Cement seeks shareholders approval for NCD issue, India03 August 2015, Published under Cement NewsThe board of UltraTech Cement Ltd has sought shareholder approval to raise up to INR90bn rupees via issue of non-convertible debentures (NCD) on a private placement basis, the company said in a release to the exchanges today. The proceeds from the NCD issue will be used to finance ongoing capital expenditure, repay existing loans or for general corporate purposes. |
Ambuja cement 2Q15 profit declines 45%28 July 2015, Published under Cement NewsAmbuja Cements Ltd reported a 45 per cent drop in net profit for the quarter ended June on account of a lower operating profit and a INR220m (US$3.4m) depreciation charge. The company posted a net profit of INR2.2635bn compared with INR4.087bn in the year-ago period. Net sales for the April-June quarter were reported at INR24.9276bn, eight per cent lower from INR27.0635bn reported a year back. EBITDA fell 34.7 per cent to INR03.84bn. “The quarter witnessed muted cement demand. Sales volum... |
India: UltraTech-Century merger talk heightens28 July 2015, Published under Cement NewsUltraTech Cement Ltd and Century Textiles & Industries Ltd are in talks with their respective dealers to synchronise their cement distribution network, trade sources told Cogencis. UltraTech and Century Textiles dealers have been told that a combined sales approach could be in place by October. The move has led to resurfacing of talk that Century Textiles' cement division will be merged with UltraTech. The Aditya Birla group-owned UltraTech Cement and the BK Birla-owned Century Tex... |
India: pollution draws protesters onto streets in Khrew28 July 2015, Published under Cement NewsDemanding an end to pollution from cement factories and illegal mining in the area, hundreds of residents of Khrew in Pulwama district protested and held a strike for a third consecutive day. The residents took to streets and staged a sit-in on the main road near the cement factories. They protested against the factory owners and demanded installation of pollution control devices. They were also demanding end to illegal mining and deforestation near the factories. “There are seven cement... |
UltraTech first quarter profit falls 5.5%21 July 2015, Published under Cement NewsUltraTech Cement's first quarter standalone net profit fell 5.5 per cent YoY to INR591 crore. The Aditya Birla Group firm had posted net profit of INR628 crore in the year-ago period. Cement and clinker sales during the quarter ended 30 June 2015 climbed six per cent to 12.14Mt from 11.7Mt a year earlier. Energy costs improved by seven per cent but the reduction in fuel prices was partly offset by an increase in rail freight expenses. Input prices remained stable except for the rise i... |
ACC quarterly profit down 45% on subdued demand, India20 July 2015, Published under Cement NewsIndian cement major ACC Ltd reported a 45.1 per cent drop in consolidated net profit for the second quarter of the calendar year to INR133.5 crore on the back of challenging market conditions and subdued demand. Consolidated total income of the company fell by 2.1 per cent to INR3,037.1 crore in April-June 2015 quarter from INR3103.2 crore in the same quarter of 2014 fiscal, it added. The company attributed the decline in net profit to challenging market conditions. “Overall constructio... |