Cement News tagged under: India

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Holcim: realising growth potential whilst cutting costs

10 September 2012, Published under Cement News

Holcim highlighted its cost cutting programme and the growth potential in its emerging markets at its latest investor and analyst event, which took place on 3-4 September in Zurich, Switzerland.   While a global recovery remains elusive, emerging markets continue to grow. Holcim noted its net sales have increased above their 2007 level, from US$22.543bn to US$23.306bn in 2011. However, higher costs have led to EBITDA falling by US$1.3bn from US$5.775bn to US$4.447bn over the same period. Ne...

Mangalam Cement appoints CFO, India

07 September 2012, Published under Cement News

Mangalam Cement has informed the board of directors at a meeting held on 3 September 2012, that Anil Kumar Mandot, joint president (Commercial), has been appointed as the chief financial officer (CFO) of the company. The information is a part of company's filings submitted to the Bombay Stock Exchange.

Deutsche upgrades India Cements to buy

07 September 2012, Published under Cement News

Deutsche Bank has upgraded India Cements to "buy" from "hold", while cutting its target price to INR106 from INR120, citing favourable risk-reward on attractive valuations and improving returns on equity profile.

Pakistan capacity utilisation drops to 10-year low

06 September 2012, Published under Cement News

Capacity utilisation of the Pakistan cement industry declined to 68.29 per cent in the first two months of the current fiscal (FY12-13), the lowest level in a decade figures from the All Pakistan Cement Manufacturers Association (APCMA) show. The drop is attributed to falls in domestic demand during July and August mainly due to Ramazana and heavy rains in the country, as well as a decline in exports. APCMA data shows that total cement dispatches were down 1.64 per cent and 2.82 per ce...

Indian cement capacity seen reaching 349.6Mt in FY13

04 September 2012, Published under Cement News

Indian cement production capacity is expected to rise to 349.6Mt in the current fiscal year (FY13) from 336.1Mt reached in the last fiscal. "The projected demand and capacity to be created during 2012-13 are 265.4Mt and 349.6Mt, respectively," Minister of State for Commerce and Industry Jyotiraditya Scindia said in a written reply to Parliament According to the report of the working group on cement industry for the 12th Five Year Plan, the installed capacity of cement production during...

Reliance Infrastructure set to start output from Maharashtra unit

03 September 2012, Published under Cement News

Reliance Infrastructure Ltd (R-Infra) is set to begin producing cement from its grinding facility in Maharashtra this month and will sell it under the Reliance Cement brand. “We will produce cement from our grinding unit, which will start now. We will buy clinker from others and do the grinding part. We will also bag them,” said Lalit Jalan, chief executive officer of R-Infra told Business Standard. The first batch of Reliance-branded cement would be out by the end of the month. The grin...

UltraTech on track to raise capacity by 19% next year

31 August 2012, Published under Cement News

UltraTech, India’s leading cement producer, said it will raise capacity to 62Mt by next year, according to its chairman, as he warned that the outlook for the domestic sector remains challenging. "I believe the short-term prospects for the industry appear bearish. Regardless, over the medium to long term, the sector offers good growth potential," Kumar Mangalam Birla said in a statement released after the company's annual shareholder meeting. Rising input and energy costs have been squ...

Shree puts Karnataka project on hold, to expand Rajasthan works

31 August 2012, Published under Cement News

Shree Cement has decided to put its Karnataka project on hold following issues with land acquisition and  now plans to expand its Rajasthan cement works. The proposed plant, which would have been Shree Cement’s first venture outside north India, was meant to have a capacity of 6Mt. However, due to the project facing land hurdles, the company plans to expand its existing facility in Rajasthan. “We had a very good quarter. It is time to move ahead. We had plans for moving out of North In...

Sanghi Industries swings to full year profit, India

30 August 2012, Published under Cement News

India-based cement producer Sanghi Industries Ltd reported a net profit in fiscal year 2011-12 compared to a loss in the previous year as margins and sales improve in the fourth quarter. The company reported a net profit of INR81.87 crore for the fiscal year ended 30 June 2012 compared to a loss of INR29.55 crore in the previous fiscal.  Net sales rose 8.3 per cent to INR974.07 crore in FY11-12 compared to INR899.48 crore a year earlier. Commenting on the financial performance of the c...

Zuari agrees to pay lump sum in L&T dispute, India

28 August 2012, Published under Cement News

Zuari Cement, a subsidiary of Italian cement major Italcementi, has agreed to pay a lump sum to settle an acrimonious dispute with engineering and construction company Larsen & Toubro (L&T) over unpaid bills, the Economic Times of India reports citing sources familiar with the situation. The amount Zuari Cement is set to pay is undisclosed. Last month L&T filed for arbitration proceedings against Zuari Cement to claim INR188.5 crore in unpaid dues and payment delays. L&T alleged that Zuari ...