Cement News tagged under: India
UltraTech Cement acquisition, India24 July 2012, Published under Cement NewsIndia’s number one cement producer UltraTech Cement announced on Tuesday it has signed an agreement with the shareholders of Gotan Lime Stone Khanij Udyog (GKUPL) to acquire 100% equity shares of GKUPL. With this acquisition, GKUPL has become a wholly owned subsidiary of the company. |
Higher sales and prices boost UltraTech first quarter23 July 2012, Published under Cement NewsIndia’s leading cement producer UltraTech Cement has reported a 14 per cent rise in net profit for the first quarter of the current fiscal (1QFY13) thanks to higher sales and increased prices The company reported on Friday that net profit rose to IN7.78bn (US$141m) from INR6.83bn in the same corresponding period of the previous year. Sales increased 17 per cent to INR50.75bn compared to INR43.52bn in 1QFY12. Input costs rose by 10% YoY mainly due to an increase in rail freight and a ri... |
India first quarter market expectations20 July 2012, Published under Cement NewsIndian cement companies are expected to post higher net profits and sales in the first quarter of the current fiscal (April-June FY13) thanks to improved prices and higher demand. However, gains in profits for most cement companies will be impacted by rising costs owing to higher railway-freight charges. Besides, rupee depreciation will increase the cost of imported coal, a key raw material and fuel for the industry, according to brokerage Kotak Securities. Market expectations for... |
Four Indian plants force to close on alleged environmental violation20 July 2012, Published under Cement NewsFour cement plants in the Indian state of Chhattisgarh have been ordered to shut down on alleged violation of air pollution controls norms. The Chhattisgarh Environment Conservation Board (CECB) told Business Line India that two UltraTech Cement plant, one Ambuja Cement and one Lafarge plant have all be closed for over a week now. The four units, all situated in Baloda Bazar district, have a total capacity of 10Mta. CECB member secretary, Mr Narsimha Rao, said there were charges of viola... |
Sagar Cements net profit falls 77%, India19 July 2012, Published under Cement NewsSagar Cements Ltd’s net profit declined 77 per cent at INR 4.1 crore in the first quarter of FY12-13 compared to INR 18.1 crore in the year-ago period. Revenues of the Hyderabad-based company almost remained flat at about INR150 crore. “The operating environment for cement companies thus far has been challenging. With increasing power and fuel costs, margins are being impacted,” Mr Sreekanth Reddy, Executive Director, Sagar Cements said in a release. |
ACC seen posting 12 per cent rise in 1QFY13 net profit19 July 2012, Published under Cement NewsACC is likely to post a 12 per cent YoY rise in net profit at INR3.78bn for the first quarter of the current fiscal (FY12-13), according to the average of 22 brokerages' estimates, Moneywire reports. India’s second-largest producer, in which Holcim holds a 50.3 per cent stake, is expected to post a 13 per cent rise in net sales for the quarter at INR27.25bn. On a QoQ basis, net sales are seen declining five per cent. However, net profit Apr-June is not strictly comparable with the previou... |
UltraTech seen posting 8% YoY net profit rise18 July 2012, Published under Cement NewsUltraTech Cement is expected to post an 8% YoY rise in net profit for the first quarter of fiscal year 2012-13 (FY12-13) on the back of better sales realisation and a low base effect, an average estimate of 21 brokerages showed. Net sales are seen rising 15 per cent to INR49.98bn for the country’s largest cement producer. "We expect Q1FY13 (Apr-Jun) to be yet another strong quarter for cement companies," ICICI Securities said in a pre-earnings note. "Average all-India cement prices are ex... |
Assam cement producers cut prices, India17 July 2012, Published under Cement NewsCement producers in the northeastern Indian state of Assam have cut prices by 7-8 per cent per bag, according to reports in the Economic Times of India. The newspaper writes that manufacturers based in Assam have been criticized for not lowering prices despite enjoying subsidies under the North East Industrial and Investment Promotion Policiy (NEIIPP) 2007. Cement prices have now dropped in the range of INR25-30/bag. Leading cement companies – which have been selling cement at INR370 /... |
Coal India threatens to cut supplies to four UltraTech Cement power plants16 July 2012, Published under Cement NewsCoal India has threatened to cut supplies to four of UltraTech Cement’s captive power plants located in the Indian states of Rajasthan, Chhattisgarh and Madhya Pradesh. DNA India reported that last week, Coal India wrote to 16 captive power plants, including the UltraTech facilities, threatening to break long-term linkages. These units were found to be incomplete when a meeting of the Standing Linkage Committee reviewed their implementation status, officials of Coal India Ltd (CIL) said. ... |
Madras Cements boosts grinding and power generation capacity11 July 2012, Published under Cement NewsIndia-based producer Madras Cements is currently in the process of increasing grinding capacity at two of its cement works while two power generation projects are set to become operational in the current quarter. The company notes in its 2011-12 annual report that is Ramasamy Raja Nagar plant is in the process of installing a roll press to increase cement grinding capacity from 210tph to 260pth. The project is expected to be commissioned in March 2013. Meanwhile, at its Salem grinding ... |