Cement News tagged under: India

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UltraTech Cement invests in wind power company

04 August 2023, Published under Cement News

UltraTech Cement has entered a Share Subscription and Shareholders Agreement and Energy Offtake Agreement with VEH Radiant Energy Pvt Ltd for the purpose of acquiring 26 per cent equity shares of VEH Radiant. VEH Radiant is engaged in generation and transmission of renewable wind power energy. The cost of the share price will not exceed INR151m (US$0.181m). VEH Energy has a registered office at TSIIC Hyderabad Knowledge City, India.

Prism Johnson turns a profit in June quarter

04 August 2023, Published under Cement News

India-based Prism Johnson saw its net sales advance seven per cent YoY to INR19.04bn (US$230.4m) in the quarter ended 30 June 2023. Over the same period, consolidated profit after tax came in at INR207.6m, compared to a loss of INR160.1m in the same period a year earlier. Revenue from the company’s cement business, which accounts for over half its total revenue, expanded by 18 per cent YoY over the June 2023 quarter, according to Reuters. The increase in revenue has been fuelled by stro...

Orient Cement reports profit dip in June quarter

03 August 2023, Published under Cement News

Orient Cement Ltd , part of the CK Birla Group , has reported revenue from operations of INR8251.8m (US$99.8m) in the quarter ended 30 June 2023, up from INR7139.3m in the same period a year earlier. Net profit for the three-month period came in at INR370.3m, down slightly on the INR374.1m seen in the June quarter of 2022. Total expenses over the same timeframe advanced from INR6560.5m to INR7723.9m, driven primarily by cost of materials consumed, and power and fuel. Earnings per share ...

Ambuja Cements to acquire Sanghi Industries

02 August 2023, Published under Cement News

Ambuja Cements , part of the Adani Group , has agreed to acquire a majority stake in Sanghi Industries , reports Reuters News. According to sources close to the transaction, the deal is expected to be officially announced today. Sanghi Industries is one of the leading cement producers in the Indian state of Gujarat and currently runs 6.1Mta of cement production capacity. The exact share of the stake and the value of the deal is not yet known.  In the quarter ended 30 June 2023, Ambu...

UltraTech commissions 1.2Mta Magdella expansion

02 August 2023, Published under Cement News

UltraTech Cement has commissioned its 1.2Mta brownfield capacity expansion at Magdella , Gujarat. The project takes the plant’s total cement capacity to 1.93Mta. According to the company, UltraTech's total grey cement production capacity in India now stands at 132.45Mta. 

Shree Cement starts commercial production at Purulia

31 July 2023, Published under Cement News

Shree Cement Ltd has commenced commercial production at its clinker grinding unit in the  Purulia district of West Bengal with a cement capacity of 3Mta. According to the company, this is the first factory in the state which will help meet the growing demand for cement in West Bengal.  Shree Cement operates 10 integrated cement plants and 11 grinding units across India. The Purulia plant is expected to create direct and indirect employment opportunities for over 1000 people. With this,...

Shree Cement 1QFY23-24 profits jumps INR5723m

26 July 2023, Published under Cement News

Shree Cement ’s first quarter profit for the FY23-24 rose to INR5723m (US$69.7m), up 104.8 per cent in comparison to INR2795m during the corresponding quarter of last year. It posted revenue from operations at INR50,648.3m, up 14.7 per cent as against INR4,4148.5m during the 1QFY22-23. The company’s EBITDA stood at INR9326m. The company posted total income for the quarter at INR52,339m, up 19.1 per cent in comparison to INR43,947.5m during the same period last year. However, the total...

Orient Cement enters agreement to acquire stake in Ardeur Renewables

25 July 2023, Published under Cement News

India-based Orient Cement has entered into a share subscription and shareholders’ agreement with Ardeur Renewables and Cleantech Solar India on 21 July 2023 for the acquisition of a 28.52 per cent stake in Ardeur Renewables’ share capital. It will build two solar power plants with a capacity of 16MWdc in Karnataka and 5.5MWdc in Maharashtra under the Captive Scheme. With the INR95m acquisition, Orient Cement expects to meet its green energy requirement, optimise its energy cost and compl...

Dalmia Bharat sees revenue advance YoY in June quarter

21 July 2023, Published under Cement News

Dalmia Bharat has reported its unaudited consolidated results for the quarter ended 30 June 2023, with revenue from operations coming in at INR36,240m (US$442m) over the three-month period. This compares to INR39,120m in the previous quarter, and INR33,020m in the same period a year earlier. Profit for the June 2023 quarter stood at INR1440m, down from INR6080m in the previous quarter and INR2050m in the same period in 2022. Total expenses in the quarter ended 30 June 2023 were reported...

GCCA and LeadIT release Green Cement tracker

21 July 2023, Published under Cement News

The Leadership Group for Industry Transition (LeadIT) and the Global Cement and Concrete Association (GCCA) have launched a new decarbonisation tracker, to help policymakers, industry experts, academics and the public monitor worldwide decarbonisation efforts in the cement industry. The Green Cement Technology Tracker was unveiled at an international inter-governmental meeting focused on clean energy, which is taking place in India.   Per Andersson, head of the Secretariat – LeadIT, sai...