Cement News tagged under: India
India Cements net profit falls 30%06 November 2012, Published under Cement NewsIndia Cements Ltd on Monday said its second quarter net profit fell 30 per cent YoY to INR49.08 crore from INR69.71 crore from a year earlier. "Our profits were lower as we suffered from increased input costs due to power and fuel," N Srinivasan, vice chairman and MD of India Cements said. The company’s power and fuel costs were up 21 per cent during the quarter ending 30 September at INR328.48 crore. |
India Cements 2Q profit falls 29.6%05 November 2012, Published under Cement NewsIndia Cements, the largest cement producer in South India, reported fall of 29.59 per cent in net profit for the quarter ended September 2012 on lower margins. During the quarter, the net profit of the company fell to INR490.8m as compared with INR697.1m in the same period last year. This was lower compared to analysts' expectation of INR730m. Net sales during the quarter rose 3.12 per cent to INR11.25bn compared with the same period last year. |
Pakistan exports to India decline02 November 2012, Published under Cement NewsPakistan cement exports to India have registered a decline of 15.67 per cent in the first quarter of current fiscal year, standing at 137,742t compared to 163,340t exports in the same period of last year, said Aizaz Mansoor Sheikh Chairman Association of Pakistan Cement Manufacturers (APCMA). Exports to India have been in constant decline ever since the two countries opened their borders for liberal bilateral trade, according to industry sources. Pakistan traders blame the stringent No... |
Indian producers move forward with cartel appeal02 November 2012, Published under Cement NewsEleven Indian cement producers fined by the Competition Commission of India (CCI) for cartel practices, yesterday approached the Competition Appellate Tribunal (COMPAT) to challenge the findings announced earlier this year. A notice has now been issued to the CCI and the matter is listed for the next hearing on 22 November. ? The three-member COMPAT bench, headed by chairman Justice VS Sirpurkar did, however, request that now coercive action is taken against Shree Cement which was issued a ... |
Indian cement prices rise30 October 2012, Published under Cement NewsA positive cement pricing trend which started in September has continued into October across most of India. The national average price of cement in October stood at INR299/50kg bag, representing a 1.7 MoM rise. A disciplined pricing approach by cement producers has helped drive prices upward. An increase in prices in the southeastern state of Andhra Pradesh has been most welcome as the area has not been so profitable in recent times for cement producers active in that area. Furthermore... |
JK Lakshmi to revive Udaipur operations, India29 October 2012, Published under Cement NewsJK Lakshmi Cements plans to restore operations at its Udaipur cement plants as part of its efforts to double cement capacity in the next two years. "We will be spending nearly INR350 crore for reviving the operations. This will help us add nearly 1.4Mta to our existing capacity, thus enabling us to cater to the growing demand for cement," JK Lakshmi Whole-time Director Shailendra Chouksey told local press. The revival of the plant is expected be completed by September-October 2014. ... |
India Cements plans Tamil Nadu capacity expansion, India25 October 2012, Published under Cement NewsIndia Cements is planning work on a brownfield expansion to add over 3Mta at two of its cement plants in the southern Indian state of Tamil Nadu. The Dalavoi plant, in the Ariyalur district, the company plans to construct a new line that will add over 2.55Mta to the existing 2.16Mta capacity, according to reports by Business Line India. This will take total capacity at the plant to 4.71Mta. A 2x20 MW captive power plant will also be set up to fully meet the power requirement there. A simil... |
Binani Cement abandons Mauritius project24 October 2012, Published under Cement NewsIndian cement maker Binani Cement has pulled the plug on its Mauritius project. A key issue cited by the company are the lack of area granted to the company by the Mauritius Port Authority. Rajesh Kumar Bagri, director of Binani Cement, says: "We will receive only four hectares from the Mauritius Ports Authority for the cement. This is not enough. Initially, there was talk that 6.5ha would be available to us. " In addition, a challenge to the licence obtained after the Environmental Impa... |
JK Cement signs MoU for new plant, India23 October 2012, Published under Cement NewsJK Cement has signed a memorandum of understanding (MoU) with the government of Madhya Pradesh to set up a cement plant in the Panna district of the central Indian state. The MoU was signed in the presence of Chief Minister Shivraj Singh Chouhan and JK Group officials, official sources said, according to reports in the Times of India. |
UltraTech second quarter profit surges, India22 October 2012, Published under Cement NewsIndia’s largest cement producer UltraTech reported a 97 per cent rise in standalone profit to INR5.5bn (US$102m) for the second quarter of the current fiscal FY12-13 but higher input costs continue to impede the domestic industry. During the July-September 2012 period, net sales rose 20 per cent to INR47bn, as consumption has seen a gradual uptick through the year. Cost cutting measures have helped the cement major achieve better results, the company said in a release. Margins of cemen... |