Cement News tagged under: India
Stable prices boost India Cements 4Q profit26 April 2012, Published under Cement NewsIndia Cements reported a five per cent rise in net profit attributed to stable cement prices and improved realisations. Business Line India reports that for the quarter ended March 31, 2012, the company posted a net profit of INR64.92 crore on a total income of INR1122.95 crore. During the corresponding quarter in the previous year, the net profit was INR56.31 crore on a total income of INR941.52 crore. A noticeable recovery in demand and a higher average realisation during the year... |
Pakistan cement exports earn US$339m in 9MFY2011-1225 April 2012, Published under Cement NewsDuring 9MFY2011-12 (July-March), Pakistan cement exporters saw recovery in cement exports in terms of value. In Pakistani currency, the export also rose by 6.06%. In addition, the average cement price improved. The Pakistan cement manufacturer and exporters exported 6.51Mt of cement and earned US$339.208m compared to 6.72Mt at US$329.696m in the corresponding period last year. The figures indicate that cement exports fell by 3.07% in terms of volumes but increased 2.89% in terms of dolla... |
India: collusion ruling looms large over cement makers24 April 2012, Published under Cement NewsIndian cement makers’ stocks fell on fears that the Competition Commission of India (CCI) will rule against the sector as it deliberates on whether companies have colluded to push up prices. On Monday, the CCI imposed hefty penalties against agrichemical manufacturers, sparking fears similar action will follow regarding cement producers. |
UltraTech Cement net profit rises 19% in 4Q to US$69.7m24 April 2012, Published under Cement NewsUltraTech Cement posted a 19% rise in net profit at INR8.67bn (US$69.7m) in the fourth quarter ended 31 March 2012, as compared to INR7.27bn (US$138m) in the corresponding quarter last year. Net sales rose 19% to INR53.37bn from INR44.9bn during the period. ?? Profit before interest, depreciation and tax is INR14.64bn as against INR11.27bn in the corresponding period of the previous year. ??The combined cement and clinker sales of grey cement was 11.54Mt and 3Mt for white cement. |
India Cements: investors could consider on long-term basis24 April 2012, Published under Cement NewsChennai-based India Cements is a leading player in southern India and has benefited from strong cement prices, given production discipline amongst local producers over the past few quarters. Consequently, total cement dispatches in the southern region grew just 1.8% YoY during FY12, and the pace was much slower than the all-India growth during this period, Point Out brokerage house reports. India Cements has recently diversified its presence into northern markets. Its subsidiary Trinetra ... |
India: Udayapur Cement to shut for a month23 April 2012, Published under Cement NewsOne of the biggest cement factories in the country built with Japanese assistance has been closed for a month for ‘maintenance work’ at a time when the demand for construction materials has been witnessing a boom. According to a Himalayan Times report, the closure of Udayapur Cement Factory, which has a cement capacity to churn out 800tpd every day, is not a result of technical failure, as claimed by the management, but due to the shoddy management, say employees of the cement factory. “Pr... |
ACC first-quarter hit by one-time depreciation charge19 April 2012, Published under Cement NewsACC Ltd Thursday said its January-March net profit fell sharply, hit by a one-time depreciation charge of INR3.35bn. ACC, a unit of Holcim Ltd, posted a net profit of INR1.52bn, down from INR3.50bn a year earlier. Sales rose 19 per cent to INR30.15bn from INR25.41bn. The results were much lower than the market expected. An average of estimates from six analysts polled by Dow Jones Newswires had forecast a net profit of INR4bn. Without the one-time charge, the net profit could have ... |
UltraTech in talks to buy Mozambique mine19 April 2012, Published under Cement NewsAditya Birla group's UltraTech Cement - India's largest cement maker, is in talks to acquire a large limestone mine in Mozambique for about INR1500 crore. According to reports in the Economic Times of India, negotiations between the Mumbai-based company and the mine owner began two months ago and could subsequently result in UltraTech constructing a 1-2Mta cement plant in the southeast African country. Demand in Mozambique has been growing at 8-9 per cent annually, a source familiar with th... |
Jaypee plans capacity hike, India18 April 2012, Published under Cement NewsIndia’s Jaypee Group is aiming to increase cement capacity to around 50Mta over the next five years from 33.5Mt, the Economic Times of India reports. Shiva Dixit, vice president of Jaiprakash Associates (the flagship company of the diversified Jaypee Group) told local press that “Our current capacity is 33.5Mt. By the end of this year, it will reach to 36Mt. We are evaluating various locations and are targeting to touch 50Mta cement capacity over next five years.” Jaiprakash is current... |
UltraTech Cement appoints additional director, India18 April 2012, Published under Cement NewsUltraTech Cement’s board of directors have appointed M Damodaran as an additional director (independent) with effect from 16 April 2012, the company said in a statement to the Bombay Stock Exchange. |