Cement News tagged under: Indian sub-continent
Adani Cements will not require external loans for capex expansion31 August 2023, Published under Cement NewsAdani Cements is looking to rely on operating cash flows and internal accruals to fund its INR460,000m (US$5.5bn) expansion capex over the next five years, without the need for external borrowings. The cement arm of the Adani Group, comprising ACC Ltd and Ambuja Cements , has set an ambitious target to achieve a production capacity of 140Mta by FY28, from the current 67.5Mta. “With the funds available from the cement operations, there is no need to resort to external borrowings for t... |
Bangladesh cement producers switch to VRMs and roller presses31 August 2023, Published under Cement NewsBangladesh cement manufacturers are replacing their traditional ball mills (TBMs) with sophisticated vertical roller mill (VRM) and roller press (RP) equipment, reports the Daily Star. Although VRM and RP-based manufacturing lines are three times costlier than the traditional ones, advanced technologies can help sustain businesses in the long run. Nine large companies - Shah Cement , Bashundhara Cement , Fresh Cement, Premier Cement Mills , Seven Rings , Crown Cement , LafargeHolcim ,... |
Fauji Cement Co sees profit expand YoY in FY2330 August 2023, Published under Cement NewsFauji Cement Co Ltd (FCCL) has earned profit after tax of PKR7.4bn (US$24.34m) in FY23, compared to PKR7.1bn in FY22. The result comes despite the retrospective increase in the Super Tax rate from four per cent to 10 per cent having an impact of PKR1.98bn and taking the effective rate to 39 per cent. The gross finance cost also advanced from PKR1.2bn to PKR3.64bn to during this period. According to the company, it has continued to focus on implementing cost optimisation initiatives, i... |
Fauji Cement plant achieves ISO certification for energy management29 August 2023, Published under Cement NewsFauji Cement (FCCL) has announced that its manufacturing facility in Nizampur , Khyber Pakhtunkhwa, has achieved ISO 50001:2018 certification through TUV, Austria for its Energy Management System (EnMS), making it the third facility in the Pakistan cement sector to achieve this certification. FCCL is known for producing quality cement products for the last 31 years in Pakistan. According to the company, this certification is seen as a step forward towards improving its energ... |
Adani group posts EBITDA growth of 42% in 1Q25 August 2023, Published under Cement NewsAdani Group delivered EBITDA growth of 42 per cent YoY to INR235,320m (US$2852m) in 1QFY24 with businesses across segments ranging from airports and sea ports registered good growth, the company said. Airports, green hydrogen and other businesses under the flagship incubator saw their profits almost double YoY. With EBITDA of INR17,180m, these businesses contributed seven per cent to the portfolio EBITDA. The core infrastructure and utility platform, which generates stable and assure... |
Cement dispatches are likely to rebound in August 202324 August 2023, Published under Cement NewsWhile Pakistani cement dispatch data for August 2023 is yet to be released by All Pakistan Cement Manufacturers (APCMA), Topline Securities has forecast that local cement dispatches will increase by 19-23 per cent YoY in August 2023 due to low base effect in the corresponding period. An analyst said today that total cement sales during August 2023 are anticipated to increase by 23-27 per cent YoY and 26-29 per cent MoM. Local dispatches will likely rise by 19-23 per cent YoY and 25-29... |
A 24% fall in Pakistan cement exports in July 202322 August 2023, Published under Cement NewsPakistan began the FY23-24 (July 2023-June 2024) by registering lower cement and clinker exports in value and volume terms, with sea exports declining. While reviewing the monthly trends between the southern and northern regions, Usama Rauf, an investment analyst at AKD Securities, observes that exports have fallen in the south, primarily due to coal procurement challenges. This has led companies in this region to focus on the local market. The higher local retention prices have further ince... |
Lucky Cement achieves another milestone for solar energy22 August 2023, Published under Cement NewsLucky Cement ’s GM Finance and Company Secretary, Faisal Mahmood, informed the Pakistan Stock Exchange (PSX) on 21 August 2023 about the successful completion and commissioning of its 25MW captive solar power plant located at its manufacturing site in Karachi. The project was executed within the stipulated timelines and has commenced operations as of 20 August 2023. Lucky Cement’s installed power generation capacity for self-consumption from renewable sources now stands at 39 per cent, i... |
Pakistan's cement industry’s mixed financial results await at PSX18 August 2023, Published under Cement NewsCement producers have started posting their financial results on the Pakistan Stock Exchange (PSX) for 4QFY22-23 and the full year of 2023. Mixed results are expected, yet Spectrum Research has stated that higher financial costs and super tax reduce profitability. It adds sluggish economic activities, leading to a decline in the country’s construction materials demand, mainly cement and steel. The higher inflation and low purchasing power also contributed to a reduction in cement dispa... |
Bestway Cement sees 16% YoY decline in cement dispatches17 August 2023, Published under Cement NewsBestway Cement Ltd has reported a 16 per cent YoY decline in total cement disptaches in the fiscal year 2023 (ended 30 June 2023) due to reduced local and export sales volumes. The company attributes the decline to fierce competition. However, Bestway retained its position as the largest cement producer and the market leader in the country on the back of its superior quality and wide product range, according to the company. The company recorded a gross turnover of PKR120bn (US$405m) in ... |