Cement News tagged under: India
UltraTech Cement Co commissions new capacity in Hirmi and Cuttack17 February 2023, Published under Cement NewsUltraTech Cement Co has commissioned 1.30Mta of brownfield cement capacity at Hirmi, Chhattisgarh and 2.80Mta of greenfield grinding capacity at Cuttack, Odisha. This forms part of the on-going capacity expansion. With this commissioning the company’s total cement manufacturing capacity in India now stands at 126.95Mta. |
CCI gives green light to Dalmia acquisition of JAL16 February 2023, Published under Cement NewsThe Competition Commission of India ( CCI ) has approved an INR56,660m (US$685.7m) deal related to Dalmia Cement ’s acquisition of cement, clinker and power plants of Jaiprakash Associates Ltd (JAL), according to The Hindu Business Line. The acquisition will enable Dalmia Cement to expand its footprint into the central India region and emerge as a pan-India company with 75Mta of capacity by FY27 and 110-130Mta by FY31.This latest transaction, once approved by all... |
Grasim Industries sees profit tumble QoQ15 February 2023, Published under Cement NewsGrasim Industries Ltd, which owns UltraTech Cement , has reported unaudited standalone total income from continuing operations of INR62,983.1m (US$760.4m) in the quarter ended 31 December 2022. This compares to INR75,007.5m in the previous quarter and INR58,252.9m in the same period a year earlier. Net profit advanced from INR5224.7m in the quarter ended 31 December 2021 to INR9643m in the quarter ended 30 September 2022, before falling to INR2573.6m in the latest quarter ended 31 Decemb... |
Shree Cement resignation14 February 2023, Published under Cement NewsIndia’s Shree Cement has announced that Prakash Narayan Chhangani has resigned as whole-time director of the company. His resignation is effective from 13 February 2023. According to the company, his decision to leave is to “pursue his career outside the organisation.” |
Burnpur Cement losses continue10 February 2023, Published under Cement NewsIndia-based Burnpur Cement Ltd has reported total income of INR349.3m (US$4.24m) in the quarter ended 31 December 2022. This compares to INR330.2m in the previous quarter and INR357.2m in the same quarter a year earlier. Over the December 2022 quarter a loss of INR207.6m was seen, compared to a loss of INR202.5m in the previous quarter, and a loss of INR53.8m in the December 2021 quarter. Cement sales over the quarter ended 31 December 2022 came in at 84.7Mt In the nine months ended ... |
Shree Cement YoY profit hit by fuel expenses10 February 2023, Published under Cement NewsShree Cement Ltd has reported total income of INR42,300.2m (US$513m) in the quarter ended 31 December 2022. This compares to INR39,374.9m in the previous quarter and INR36,618.9m in the same quarter a year earlier. Profit over the December 2022 quarter came in at INR2767.7m, up from INR1896m in the previous quarter but down from the INR4919.9m reported in the December 2021 quarter. Power and fuel expenses advanced from INR8078.m in the quarter ended 31 December 2021 to INR13,027.4m in ... |
Power and fuel costs hit profits at Ramco Cements09 February 2023, Published under Cement NewsRamco Cements Ltd has reported revenue of INR20,180.9m (US$244.3m) in the quarter ended 31 December 2022. This compares to INR17,932m in the previous quarter and INR15,558.8m in the same quarter a year earlier. Net profit after tax fell from INR825.7m in the December 2021 quarter, to INR673.9m in the same period a year later, while basic earnings per share declined from INR3.49 to INR2.85. Over the nine months ended 31 December 2022, revenue came in at INR55,906.8m, up from INR42,915.8... |
US production and consumption increased in 202208 February 2023, Published under Cement NewsThe US produced an estimated 95Mt of Portland and masonry cement in 2022, according to the US Geological Survey (USGS), up from 93Mt in the previous year. Cement was produced at 96 plants in 34 states, along with two plants in Puerto Rico. Texas, Missouri, California and Florida were, in descending order, the four leading cement-producing states, accounting for approximately 43 per cent of US production. The US cement industry’s growth continues to be constrained by closed or idle p... |
Ambuja Cements reports 11% QoQ revenue rise08 February 2023, Published under Cement NewsAmbuja Cements Ltd , part of the Adani Group , has reported an 11 per cent QoQ increase in revenue in the quarter ended 31 December 2022. Net revenue for the three-month period came in at INR80,360m (US$ 972.95m), compared to INR72,450m in the previous quarter, and INR77,100m in the same period a year earlier. EBITDA in the December 2022 quarter stood at INR11,380m, up from INR4360m in the previous quarter but down from INR12,130m in the same period in 2021. The EBITDA margin in the De... |
JK Lakshmi Cement signs solar power agreement08 February 2023, Published under Cement NewsJK Lakshmi Cement on has signed an agreement with Amplus Solar to set up a 56MWp solar power plant for its Durg facility , located in Chhattisgarh. This will form part of the company's ‘Green Pahal, Behtar Kal’ campaign that creates awareness about improving energy efficiency and saving the environment . With this initiative, JK Lakshmi Cement will be able to replace 92m units with green electricity in the first year that will help reduce its CO 2 emissions by 73,000t, equivalent to ... |