Cement News tagged under: India
India: JK Lakshmi hit by slower demand, higher costs18 February 2013, Published under Cement NewsJK Lakshmi has reported subdued performance for the third quarter of the current fiscal year due to high freight costs and flat growth in dispatches. Profits declined by 16 per cent to INR41 crore YoY in the quarter ending December 2012 and lower construction activity led to a 2.7 per cent increase in dispatches. Rising diesel and freight costs also negatively affected results and, due to lower demand, the company was unable to pass on costs to consumers. JK Lakshmi, which operates... |
India Cements looks to construct new line in Rajasthan15 February 2013, Published under Cement NewsIndia Cements is studying the possibility of expanding capacity in Rajasthan to cater for growing demand in the neighbouring states of Gujarat and Madhya Pradesh. Mr N Srinivasan, vice chairman and managing director, India Cements told Business Standard that the company is “examining whether we can expand the capacity at Rajasthan plant". The Rajasthan plant’s current capacity is 1.3Mta and the company is aiming to add another kiln line of similar capacity to serve the markets of Gujar... |
Temasek Holdings in line for Lafarge India stake?14 February 2013, Published under Cement NewsTemasek Holdings is reportedly among those shortlisted by Lafarge as a potential buyer for a minority stake in its Indian arm. Lafarge India plans to sell a 20-30 per cent stake to raise INR1325m (US$250m) to fund its INR6000 crore expansion, according to reports by the Economic Times (ET) of India. The sale of the stake is slated for completion by March. Lafarge has decided not to raise more debt to fund its capex but is instead looking at equity financing. Temasek Holdings is an inv... |
Railway projects arouse interest from Indian cement producers13 February 2013, Published under Cement NewsWith Indian railways showing a renewed focus on private partnerships, Jindal, Adani and a consortium of cement companies (UltraTech, Prism and Madras Cement) have been linked to several port connectivity projects, according to Business Standard (BS). The railway expects to raise around INR50,000m (US$928.1m) from the investment in port connectivity projects over the next five years. To begin with, it expects investment worth INR38,000m from the private sector for six port connectivity proje... |
Shiva Cement's wins Sedimentation & Water Management award13 February 2013, Published under Cement NewsShiva Cement's Khatkurbahal Limestone Mines has been awarded first prize in Sedimentation & Water Management for FY12-13 under the aegis of the Indian Bureau of Mines. Shiva Cement is engaged in manufacturing of cement and allied products. Its plants are located at Kalunga and Sundargarh in Orissa. The company has a combined installed capacity of 177,000tpa. |
HeidelbergCement to set up waste heat recovery power generation plant12 February 2013, Published under Cement NewsHeidelbergCement India has received an approval for setting up waste heat recovery power plant at its cement plant in Narsingarh, Damoh district, Madhya Pradesh. The proposed plant will produce approximately 12.15MW of power from available waste heat of pyroprocessing system of all three clinker lines at Narsingarh. The project costs an estimated INR1450m -INR1500m (US$26.8m-US$27.8m) and it is likely to be operational in January 2015. It will substitute equivalent grid power and thus... |
India: Ambuja Cement Q4 net down by 30%12 February 2013, Published under Cement NewsAmbuja Cement, India's fourth-largest cement maker, slipped considerably in its latest quarterly performance. The Holcim-owned cement major's profitability for the December quarter declined far below the estimates, making it one of the cement industry's worst performances in recent quarters. At a time when its sister concern ACC managed a better-than-expected quarterly show, Ambuja's net profits plunged 30 per cent to INR2120m (US$39.2m) compared with INR3020m (US$55.9m) in the previous co... |
India: Orient Paper & Industries' Cement sales at 317,065t in January 201312 February 2013, Published under Cement NewsOrient Paper & Industries Ltd has reported that the operational performance of the company's cement division for January 2013 was 315,997t, while domestic cement sales for the month were at 317,065t. The Orient Paper & Industries Ltd stock was trading at INR73, down by INR0.05 or 0.07 per cent. The stock hit an intraday high of INR74.75 and low of INR71.10. |
ACC sees 49 per cent drop in quarterly profit08 February 2013, Published under Cement NewsIndia’s second largest cement producer ACC reported a 49 per cent YoY drop in net profit for the third quarter of the current fiscal. The company, in which Swiss cement major Holcim owns a 50.3 per cent stake, reported a net profit of INR2.39bn compared with INR4.7bn a year earlier for the October-December 2012 period. The year-ago number included an exceptional gain for a tax write-back of INR1.29bn. Excluding this, profit would have fallen 30 per cent. Higher fuel and transportation cos... |
Lafarge India plans bond issue – report08 February 2013, Published under Cement NewsLafarge India plans to raise INR500 crore through a bond issue, the Economic Times (ET) of India has reported. "The company will raise the bonds in tenors of two-three years," two people familiar with the development told ET. "The coupon may be anywhere around 9.15-9.20 per cent for these bonds, since they are not frequent issuers," said a bond broker from a Mumbai-based brokerage. India Ratings has assigned AA+ rating to the bonds. |