Cement News tagged under: India
Pakistan: FY12 cement sales helped by local dispatches14 February 2012, Published under Cement NewsFY12 has been witnessing a drop in Pakistan’s export sales, whereas domestic cement dispatches have been rising. The latest numbers released by the All Pakistan Cement Manufacturers Association (APCMA) up until January FY12 show a continuation of this trend. Local dispatches improved by 7% YoY from 12Mt in 7MFY11, while during January 2012 alone, local deliveries improved by nearly 9% to 1.9Mt versus January 2011. While the surge in local sales was witnessed in both the northern and sou... |
India: JK Lakshmi Cement 3Q profits zoom14 February 2012, Published under Cement NewsJK Lakshmi Cement posted a net profit of INR492.4m (US$9.99m) for the quarter ended 31 December 2011 as compared to net profit of INR46m (US$0.9m) for the same period last year, representing steep rise of 10.7 times. The company’s total income rose from INR3153.3m for the quarter ended 31 December 2010 to INR4388.1m for the quarter ended 31 December 2011, an increase of 39.15%. JK Lakshmi attributed the rise in profitability to a nearly 13% increase in its sales volume. The company’s ... |
Jaypee Cement set to launch new Andhra Pradesh plant, India10 February 2012, Published under Cement NewsJaypee Cement’s new 5Mta cement plant, situated in Krishna District, Andhra Pradesh, will commence next month, Business Line of India reports. The new facility will cater mainly to the southern markets, Narayan Rao, senior general manager of the Jaypee Group said during a launch brand in the state. The company is also planning to increase capacity of the Andhra Cement plant. “Over the next six months, the work to increase its capacity from existing 2Mt to 3Mt will commence,” Mr Rao said.... |
Action against cement companies delayed, India09 February 2012, Published under Cement NewsAction against the eight cement companies alleged of flouting the forest and environment norms in the Jaintia Hills district of Meghalya, India has been further delayed. Local press report that the delay is due to the Central empowered committee (CEC) directives to the government of Meghalaya to constitute a Joint investigation committee (JIC) to re-examine the findings of the state constituted High level committee (KLC) findings that indicted eight cement plants operating in Jaintia Hill... |
Pakistan cement industry pin hopes on MFN status to India08 February 2012, Published under Cement NewsPakistan and India are likely to discuss the issue of Most Favoured Nation (MFN) during a visit this week by an India trade delegation, headed by its Commerce Minister Anand Sharma, visits Pakistan. Both governments are expected to sign formal agreements including customs cooperation, certification of goods and also address challenges being faced by Pakistan exporters into India. Pakistan’s cement industry is demanding the removal of non-tariff barriers, more freight trains to India, the o... |
JK Lakshmi Cement board OKs buyback of shares, India08 February 2012, Published under Cement NewsJK Lakshmi Cement said its board of directors has approved the buyback offer of 13.5m equity shares at a price not exceeding INR70/share for a total consideration of up to INR975m, India Investment News reports. "The Board of Directors of the company at its meeting held on February 7, 2012, inter-alia, have approved the buyback of equity shares up to an amount of INR97.50 crore (INR 975m), at a maximum price of INR70 per equity share ie 1.39 crore equity shares of INR5 each from the open ... |
UltraTech Cement to take control of Star Cement?07 February 2012, Published under Cement NewsUltraTech Cement is looking to purchase its partner’s stake in Star Cement to take full control of the Dubai-based cement producer, sources familiar with the deal have said, adding to the rumour mill that other UAE producers are ripe acquistion targets. "The group has an option to purchase the local partner's stake when they bought the majority control company from Dubai-based ETA Star Group," the Financial Express quoted a source as saying. However, OP Puranmalka, director of UltraTech,... |
India Cement’s quarterly advance, outlook cautious07 February 2012, Published under Cement NewsIndia Cements saw its profit more than double in 3QFY11-12 to INR56.31m crore (US$11.5m) helped by an accounting change and a revival in demand in the key Andhra Pradesh market. The Chennai-based company registered a net profit of INR21.47 crore net profit in the Octocber-December quarter of the financial year, the company said in a statement to the Bombay Stock Exchange. However, vice-chairman and managing director Narayanaswami Srinivasan remains cautious about his forecast for south In... |
Chettinad Cement to enter Karnataka this year, India07 February 2012, Published under Cement NewsChettinad Cement will commission a 2.5Mta cement plant in North Karnataka in the current year and has finalised plans to expand into Andhra Pradesh, Business Line of India reports. The Karnataka unit will mark Chettinad Cement's geographical expansion outside Tamil Nadu and will give it market reach into Maharashtra, where it plans to put up a grinding unit of about 1.5Mta, according to MAMR, Muthiah, Chettinad Group's Managing Director. The company has firm plans to expand its 11.50Mta pr... |
India Cements expected to see rise in sales and net profit06 February 2012, Published under Cement NewsIndia Cements is expected to post net sales of around INR9.92bn compared to INR7.18bn a year ago due to higher sales and improved realisations. However, analysts are divided on net profit estimates. At the lower end, Motilal Oswal sees the company’s net profit at INR327m while at the higher end, Bank of America Merrill Lynch, expects it to be INR884m. During the corresponding quarter last year, the company posted a net profit of INR214.7m. |