Cement News tagged under: India

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India's government urged to reopen cement works

09 August 2021, Published under Cement News

India’s Union government has been urged by a Telangana state minister to revive Adilabad's Cement Corp of India (CCI) plant in the state. In a letter to Heavy Industries Minister, Mahendra Nath Pandey, a request was made for the reopening of the plant which has remained closed since 1996. The CCI plant in Adilabad began production in 1984, serving the cement requirements in the Marathwada and Vidarbha regions of Maharashtra and north Telangana. The plant stopped manufacturing in 1996 due ...

Orient Cement features in The Economic Times' Iconic Brands 2021

09 August 2021, Published under Cement News

Orient Cement, one of India’s leading cement manufacturers and home to brands Birla.A1 Premium Cement and Birla.A1 StrongCrete, has featured in the fourth edition of The Economic Times’ Iconic Brands 2021. Talking about the recognition, Deepak Khetrapal, MD and CEO, Orient Cement, expressed, "We are delighted that the quality of our products along with our superior customer service has been recognised. This is also an affirmation of our transparent and fair business practices, and the e...

Birla Corp consolidated net profit rises to INR1420m in FY1Q21

06 August 2021, Published under Cement News

Birla Corp Ltd has reported a consolidated net profit of INR1425.1m (US$19.08m) in the 1QFY21-22 ended June 2021, which is 115 per cent higher over the corresponding quarter of the previous year, when net profit reached INR657.7m. However when compared with the January-March 2021 quarter, when a net profit of INR2493.3m was reported, it fell sharply. Net revenue for the quarter at INR17,491.1m represents a growth of nearly 43.1 per cent over the last year's corresponding period, when r...

Orient Cement posts 246% YoY rise in profit

04 August 2021, Published under Cement News

India’s Orient Cement has posted a 17 per cent QoQ decline in operating revenue to INR6.9bn (US$92.95m) in the first quarter of FY21-22, compared with INR8.32bn in the previous quarter. EBITDA also slipped 8.5 per cent QoQ to INR1.85bn, while profit after tax was down 10 per cent to INR886m. However, on a YoY basis, the company’s profit after tax more than doubled from INR256.1m in the 1QFY20-21. "The cement industry is expected to witness a volume growth due to demand revival in infrastruc...

Ambuja Cements plans 1.5Mta Ropar expansion

02 August 2021, Published under Cement News

India’s Ambuja Cements has announced plans to expand capacity at its Ropar plant in Punjab over the next two years, representing an investment of INR3.1bn (US$41.68m). The 1.5Mta project is expected to be completed by June 2023 with the grinding unit reaching a total capacity of 4.5Mta. "We are optimistic about the growth in demand for cement in India. The expansion of our Ropar unit along with more investment in the coming years will help us unlock fresh opportunities by debottlenecking e...

JSW Cement partners with new investors to accelerate growth

29 July 2021, Published under Cement News

India-based JSW Cement has entered into definitive agreements to raise up to INR15.000bn (US$201.2m) from two global private equity investors, Apollo Global Management Inc (through its managed funds) and Synergy Metals Investments Holding Ltd.     The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being issued to the investors and the conversion of such CCPS into common equity of the company will be linked to the company’s ...

Shree Cement about to start building West Bengal grinding plant

29 July 2021, Published under Cement News

Shree Cement is preparing to start work on its INR6bn (US$80.5m) grinding unit in Bengal within a month. The new plant will have a cement grinding capacity of 3Mta which will raise the group’s cement capacity to 47Mta when complete. "This will be our first plant in Bengal. In the east, we have plants in Odisha, Chattishgarh, Bihar and Jharkhand," said H M Bangur, Shree Cement’s MD. Mr Bagur added that business is reviving well in Bengal, "The growth in the state is higher than the nat...

Ambuja Cement records net sales of INR33.4bn

26 July 2021, Published under Cement News

Ambuja Cement recorded net sales of INR33.420bn (US$448.9m) in the April-June 2021 quarter 2021, up from INR21.450bn in the same period last year. Sales volumes for the 2Q21 reached 6.33Mt up from 4.19Mt in the 2Q20.  EBITDA rose substantially in the 2Q21 to INR9600m, up 61 per cent from INR5950m recorded in the same period last year. Profit after tax amounted to INR7230m in 2Q21, up from INR4530m in the 2Q20. Neeraj Akhoury, CEO India of Holcim and Managing Director and CEO of Ambuja ...

UltraTech Cement announce net sales of INR116.9bn

23 July 2021, Published under Cement News

UltraTech Cement Co reported that its consolidated net sales in 1QFY22 reached INR116.9bn (US$1.57bn) compared to INR76bn over the corresponding period of the previous year.   Profit before interest, depreciation and tax was INR35,120m compared to INR23,570m. Profit before tax was INR25,270m and profit after tax was INR17,030m compared to INR11,530m and INR7940m, respectively.   Production costs during the quarter increased 11 per cent YoY, mainly on account of higher fuel prices. Th...

Nuvoco Vistas receives approval for its IPO

22 July 2021, Published under Cement News

Nuvoco Vistas Corp Ltd has received approval of capital markets regulator Sebi to launch its INR15bn (US$679.35m) initial public offering (IPO). The   Indian cement producer has a current cement capacity of 22.32Mta and operates 11 plants with units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana. Nuvoco Vistas, formerly Lafarge India Ltd, acquired Emami Cement in February 2020.