Cement News tagged under: India
Udaipur Cement Works reports strong income02 February 2024, Published under Cement NewsUdaipur Cement Works Ltd has reported total income of INR3003.3m (US$36.17m) in the quarter ended 31 December 2023. This compares to INR2695.2m in the previous quarter and INR2385.1m in the quarter ended 31 December 2022. In the nine months ended 31 December 2023, total income came in at INR8163.2m, up from the INR7374.2m seen in the same period a year earlier. Profit after tax in the December 2023 quarter stood at INR252.6m, up significantly from the INR121.5m seen in the previous qu... |
Nuvoco sees 55% increase in 3Q EBITDA01 February 2024, Published under Cement NewsNuvoco Vistas Corp saw consolidated cement sales volume fall by 10 per cent YoY to 4Mt in the 3QFY23-24 (October-December 2023). The company also reported a seven per cent drop in revenue to INR24.21bn (US$291.6m). However, EBITDA expanded by 55 per cent YoY in the 3QFY23-24 to INR4.21bn, supported by improved price realisations and a decline in power and fuel costs. EBITDA/t of INR1048 was the highest in the last 10 quarters, according to a company presentation. Raw material costs for... |
Shree Cements reports jump in profit01 February 2024, Published under Cement NewsShree Cement has reported total income of INR53,706.5m (US$646.85m) in the quarter ended 31 December 2023. This compares to INR49,321.1m in the previous quarter and INR44,733.8m in the quarter ended 31 December 2022. In the nine months ended 31 December 2023, total income came in at INR155,366.6m, up from the INR130,655m seen in the same period a year earlier. Profit after tax in the December 2023 quarter stood at INR7018.5m, up notably from the INR4466.2m of the previous quarter and ... |
Ambuja Cements reports jump in profits YoY31 January 2024, Published under Cement NewsAmbuja Cements Ltd has reported total income of INR45,477.3m (US$547.7m) in the three months ended 31 December 2023, up from INR42,043.7m in the same period a year earlier. Profit after tax came in at INR5136.8m in the December 2023 quarter, versus INR3689.9m in the comparable period in 2022. Total expenses over the same period expanded from INR36,793.2m to INR38,673m, while basic earnings per share increased from INR1.86 in the quarter ended 31 December 2022 to INR2.59 in the same peri... |
Adani Group's fast-track expansion26 January 2024, Published under Cement NewsAdani Group has seen fast-track expansion since May 2022, when it was the successful bidder to acquire Holcim India, consisting of ACC Ltd and Ambuja Cements. Built on a diverse industry portfolio - renewables, energy and utilities, transport and logistics, and financial services - the group is expected to bring strong investment to the Indian cement sector. The group's cement capacity is currently more than 70Mta in India. The US$10.5bn acquisition of Holcim India was completed in Septemb... |
ACC reports 375% surge in PAT26 January 2024, Published under Cement NewsIndia’s ACC Ltd has reported a 139 per cent YoY leap in operating EBITDA to INR9050m (US$108.87m) in the 3QFY23-24. Profit after tax over the same period has advanced by 375 per cent to INR5380m. According to the company, the “robust” results are due to “a sharp growth in volume and improvement of important KPIs.” Revenue for the 3QFY23-24 stood at INR49,140m, up from INR45,370m in the same period a year earlier, while earnings per share improved from INR6.01 in the 3QFY22-23 to INR28.55 i... |
Dalmia Bharat Ltd records INR2660m profit in 3QFY2425 January 2024, Published under Cement NewsDalmia Bharat Ltd reported profit after tax of INR2660m (US$32m) in the 3QFY23-24, up 22 per cent from INR2180m in the 3QFY22-23. Sales volume reached 6.8Mt in the 3QFY23-24. This was a rise of 8.1 per cent from the 6.3Mt recorded in the 3QFY22-23. The 3QFY23-24 EBITDA for the company amounted to INR7750m, a rise of 20.3 per cent from the INR6440m reported in the 3QFY22-23. Commenting on the quarter gone by, Puneet Dalmia, MD and CEO of Dalmia Bharat Ltd, said, “India has undergone a hu... |
JK Cement sees continued revenue growth25 January 2024, Published under Cement NewsJK Cement has reported total income of INR28,199m (US$339.12m) in the three months ended 31 December 2023. This compares to INR25,984m in the previous quarter and INR23,581m in the same quarter a year earlier. Profit after tax in the December 2023 quarter came in at INR2894.6m, up from INR1789.2m in the previous quarter and INR576m in the same quarter in 2022. Meanwhile, earnings per share advanced from INR7.46 in the quarter ended 31 December 2022 to INR23.16 in the quarter ended 30 Se... |
NCCB appoint new chairman25 January 2024, Published under Cement NewsNeeraj Akhoury, president of the Cement Manufacturers’ Association and MD of Shree Cement Ltd, has been appointed as the chairman of the National Council for Cement and Building Materials (NCCBM) for a span of two years (2023-24). The decision was taken at a meeting of the Board of Governors of NCCBM recently held at Vanijya Bhawan, New Delhi. Before joining Shree Cement, in October 2022, Mr Akhoury worked with various marquee corporates, including Tata, Lafarge Group, ACC Ltd, Holcim Ind... |
Shree Cement begins production at Nawalgarh plant23 January 2024, Published under Cement NewsIndia’s Shree Cement has commenced commercial production at its 4.2Mta cement plant in Nawalgarh . The facility, which is located at Village Gothra, Nawalgarh Tehsil, Rajasthan, began production on 22 January 2024. This latest plant forms part of the cement producer’s plans to reach a cement production capacity of 80Mta by 2030. |