Cement News tagged under: India
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... |
Three firms reportedly submit bids for LH eastern India assets20 July 2015, Published under Cement NewsThree contenders have submitted binding bids to acquire LafargeHolcim's (LH) Indian cement assets in Jharkhand and Chhattisgarh, according to local press reports. CRH Plc., HeidelbergCement India Ltd and Baring Pvt Equity Asia have submitted the final bids for the assets with a combined capacity of 5Mta, two persons familiar with the development told Live Mint (India). "The bids have come in the range of INR4100 crore to close to INR5,000 crore and final round of negotiations have begun,"... |
Shiva Cement first quarter dispatches up 16% YoY20 July 2015, Published under Cement NewsIndia-based Shiva Cement's dispatches of cement and clinker during the first quarter of FY15-16 rose by 16 per cent YoY, the company said in a statement to the Bombay Stock Exchange. Shiva Cement owns a 0.132Mt plant in Orissa in eastern India. Its natural marketing territory is Odisha, West Bengal, Jharkhand and Bihar states. Growth plans over the coming years include a Phase one expansion of up to 1Mta, followed by Phase 2 expansion taking capacity to more than 2Mta. Additional land a... |
Burnpur Cement inaugurates Jharkhand plant, India14 July 2015, Published under Cement NewsBurnpur Cement's 800tpd cement plant in Patratu was yesterday inaugurated by Raghubar Das, chief minister of Jharkhand state, India. Addressing the gathering Burnpur Cement director, Ashok Gutgutwa, said the plant is based on dry-process technology. It is situated close to Patratu Thermal Power Station and within 10-15km of limestone deposits. It will produce OPC, PPC and Portland Slag Cement (PSC). |
Sanghi inaugurates Kutch grinding plant, India13 July 2015, Published under Cement NewsSanghi Industries' new 1.2Mta grinding plant was inaugurated on Friday by Gujarat Chief Minister, Anandiben Patel, in the western Indian state's Kutch district. The new unit lifts Sanghi's cement production capacity from 2.9Mta to 4.1Mta. Ravi Sanghi, chairman and managing director, said during the ceremony: “Inauguration of the grinding unit by the Gujarat Chief Minister is a testimony to the fact that Sanghi Industries Ltd is considered as one of the leading corporate which has contribut... |