Cement News tagged under: Indian sub-continent
Indian cement demand to grow by 6-7% in FY24-2526 April 2024, Published under Cement NewsIndian cement volume growth recovered to a healthy 7-8 per cent YoY in the last quarter (1 January 2024-31 March 2024) of FY23-24, on aggressive volume push, after growing ~15 per cent YoY in the first half of the year and logging a moderate slowdown in the third quarter due to regional hindrances, according to CRISIL MI&A Research. This ensured a third straight year of healthy demand growth at ~11 per cent to ~441Mt. On this high base, CRISIL expects cement demand growth in India to cool t... |
HeidelbergCement Bangladesh reported a net profit of BDT459m in 202326 April 2024, Published under Cement NewsAccording to HeidelbergCement Bangladesh Ltd ’s (HB) 2023 annual report, the company successfully manufactured and distributed a combined total of 2.185Mt of cement through its three strategically-positioned plants in Kanchpur, Chittagong, and Mukterpur. This quantity represents a marginal 1.2 per cent decline compared to the aggregate sales volume achieved in 2022. Notably, the company’s overall sales volume decreased by 28,000t compared to the preceding year. HB reported a net profit of ... |
Fauji Cement posts a profit of PKR7.043bn in 9MFY23-2426 April 2024, Published under Cement NewsFauji Cement Co Ltd (FCCL) announced its financial results for 9MFY23-24 on the Pakistan Stock Exchange website. The company posted a profit after tax (PAT) of PKR7.043bn compared to PKR6.968bn in the previous period, up by a meagre one per cent YoY. During the 3QFY23-24, earnings arrived at PKR1.769bn compared to PKR1.888bn, a fall of six per cent YoY, as reported in the initial financial coverage report from AHL Research. The topline during 9MFY23-24 reached PKR59.4bn, an uptick of 14 p... |
DG Khan Cement posts 6% YoY profit growth in 9MFY2423 April 2024, Published under Cement NewsDG Khan Cement Co Ltd (DGKC) announced its financial results for the 9MFY24 and 3QFY24 on the Pakistan Stock Exchange (PSX) website on 19 April. It posted a profit after tax (PAT) of PKR2.23bn (US$8.25m) compared to PKR2.11bn in the same period last year, up by six per cent YoY. However, during the 3QFY24 (January-March 2024), earnings remained consistent at PKR1.18bn. A cursory review of results from AHL Research depicts that the topline in the 9MFY24 arrived at PKR49.05bn, showing an... |
HeidelbergCement Bangladesh to change its name23 April 2024, Published under Cement NewsHeidelbergCement Bangladesh Ltd has called the Annual General Meeting (AGM) scheduled for 8 May 2024 to approve some important company matters and change the company’s name in Bangladesh. This follows the announcement that one of the company’s major shareholders, HeidelbergCement Netherlands Holding BV, changed its name to “Heidelberg Materials Netherlands Holding BV”, effective from 3 November 2023. It is to be noted that Heidelberg Materials Netherlands Holding BV (formerly known as H... |
Pakistan's cement/clinker exports rose 33% in the 9MFY23-2422 April 2024, Published under Cement NewsPakistan’s cement and clinker exports increased by 32.51 per cent in the 9MFY23-24 to US$179.47m (4.63Mt), compared to US$135.43m (2.90Mt) in the 9MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant growth of 59 per cent to PKR51.24bn during the period, sustained by the local currency’s competitive rates against the US dollar. In addition, export volumes increased by 59.41 per cent YoY in the same period. The growth can be att... |
Bestway Cement posts a fall in profit in 9MFY23-2419 April 2024, Published under Cement NewsBestway Cement Ltd (BWCL) announced its 3QFY23-24 (January-March 2024) and 9MFY23-24 (July 2023-March 2024) results on the Pakistan Stock Exchange (PSX) on 17 April 2024. The company’s net earnings stood at PKR10.31bn (US$37m) in the 9MFY23-24, down by 11.4 per cent YoY. The high cost of finance and expensive sales can be attributed to the lower profits during this period. During this period, its gross sales increased by 27.1 per cent to PKR112.11bn from PKR88.22bn. It incurred a distri... |
Attock Cement adds a new line at Hub17 April 2024, Published under Cement NewsIrfan Amanullah, company secretary at Attock Cement , informed the Pakistan Stock Exchange on 16 April that construction and installation work concerning the additional 1.275Mta cement line at the Hub manufacturing site in Baluchistan was completed. The new line is now operational and production has commenced. |
Gebr Pfeiffer wins UltraTech mill orders17 April 2024, Published under Cement NewsIndia's UltraTech Cement Ltd is building three new clinker production lines and will use Gebr Pfeiffer vertical roller mill (VRM) technology. Gebr Pfeiffer SE (Germany) and its Indian subsidiary Gebr Pfeiffer (India) Pvt Ltd will carry out the work at the Happy 3 plant where the cement raw material will be ground in an MVR 5000 R-4 mill. With a 5300kW drive, this mill can grind approximately 705tph to a product fineness of 1.5 per cent R212µm. The integrated SLS 5300 VR high-efficiency cl... |
Administrative changes at Fecto Cement and Fauji Cement11 April 2024, Published under Cement NewsFecto Cement Ltd's Company Secretary, Abdul Wahab, informed Pakistan Stock Exchange Ltd (PSX) on 8 April that Hanif Idress has been appointed as the Chief Financial Officer (CFO) of Fecto Cement Ltd in place of Abdul Samad with effect from 1 April 2024. The information is also meant for PSX TRE Certificate Holders accordingly. Meawnhile, on 8 April Fauji Cement Co Ltd (FCCL) informed the Pakistan Stock Exchange Ltd (PSX) that Lt Gen Anwar Ali Hyder, HI (M), (Retired) had been appointe... |