Cement News tagged under: Indian sub-continent
Indian cement demand to rise 7-8% in FY2405 July 2023, Published under Cement NewsCement demand in India is expected to expand by 7-8 per cent YoY in FY23-24, according to ICRA, the India-based rating agency. Cement prices, meanwhile, are forecast to remain on a par with FY22-23. In a recent report by ICRA, the agency found that cement volumes in April 2023 were up 12 per cent YoY at 36.6Mt. Volumes in FY22-23 showed a nine per cent expansion to 391Mt. This growth was driven by demand from the housing and infrastructure sectors and due to the low base effect of 1QFY21... |
Ramco Cement commissions Line 3 at Raja Nagar30 June 2023, Published under Cement NewsRamco Cements has commissioned Line 3 at its Ramamasamy Raja Nagar plant in Tamil Nadu, India. This marks the first integrated cement line in the region in the last 15 years, according to Construction Week. Commissioned one month ahead of schedule, the new line’s electricity requirement will be met from Ramco’s own wind farm. Line 3 will not only produce Ramco’s special cement, Ramco 53 Infra Super, used for high-tech concrete structures, which reduces the use of admixtures and the qu... |
Ambuja Cement reports revenue of US$4746m29 June 2023, Published under Cement NewsAmbuja Cement , part of the Adani Group , has reported revenue from operations of INR389,370m (US$4746m) in FY22-23. EBITDA came in at INR58,600m, with an EBITDA margin of 15 per cent, while profit before tax stood at INR37,290m. The company has changed its financial year end so these latest results cover 1 January 2022 to 31 March 2023, a total of 15 months, so are therefore not comparable with the figures for the 12 months ended 31 December 2021. Profit after tax was reported as INR3... |
UltraTech Cement listed in 'Best of Indian Brands 2023'28 June 2023, Published under Cement NewsUltraTech Cement Ltd has ranked 28th in Interbrand’s ‘Best Indian Brands 2023’ ranking list. UltraTech is the only cement brand to be featured in the 2023 list. Interbrand, a leading global brand consultancy firm, recently unveiled the ‘Best Indian Brands 2023’ rankings. UltraTech has been one of the only few brands that has been part of the Best Indian Brands table since its inception in 2014. As per Interbrand’s report, UltraTech has maintained its position in the Best Indian Brands l... |
Power Cement reprofiles outstanding long-term obligations27 June 2023, Published under Cement NewsPower Cement Ltd 's Company Secretary, Salman Gogan, informed Pakistan Stock Exchange (PSX) that in the wake of rising inflationary pressures, high-interest rates and depressed local demand, the company has finalised an arrangement with a local syndicate of banks to re-profile its outstanding long-term obligations of PKR11.9bn (US$41.8m). The local syndicate of banks, in respect of their long-term debt, has favourably agreed on the following salient terms: four biannual principal re... |
Provisional dispatches data show a mixed trend in June 202326 June 2023, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA) is yet to release overseas and local cement dispatch data. Local cement sales are expected to grow by two per cent MoM in June 2023, but down 16 per cent YoY in the FY22-23 (July 2022-June 2023), according to a local research house. Topline Securities said Pakistan’s total cement sales in June 2023 are expected to increase by two per cent MoM, reaching 4Mt. Similarly, local dispatches are also anticipated to rise by two per cent... |
UltraTech Cement Ltd ranked No1 for Sustainability23 June 2023, Published under Cement NewsUltraTech Cement Ltd has been ranked No1 in Sustainability in the Infrastructure and Engineering sector in Sustain Labs Paris and BW Businessworld’s India's Most Sustainable Companies list for the 2022-23. UltraTech has seen an improvement in its overall position in the India’s Most Sustainable Companies ranking. From being ranked No 15 in 2021-22, the company has improved two positions to No 13 in 2022-23. This improved ranking is a recognition of the significant progress made by Ul... |
Barak Valley Cements announces resignation23 June 2023, Published under Cement NewsIndia-based Barak Valley Cements Ltd has announced the resignation of director, Dhanpat Ram Agarwal, with immediate effect, reports Dow Jones Newswire. Mr Agarwal is leaving the company “on account of personal reasons and other professional commitments”, according to the company. |
Attock Cement sells Iraqi unit for US$11.7m22 June 2023, Published under Cement NewsAttock Cement Ltd of Pakistan has updated Pakistan Stock Exchange (PSX) about selling its 60 per cent share in its Iraqi grinding plant on 21 June 2023. Company Secretary, Irfan Amanullah, has informed PSX that the agreement for the sale of the entire shareholding of the company in its subsidiary ‘ Saqr Al Keetan for Cement Production Co Ltd ’ reached, and the company has received a sum of US$11.700m as a consideration against the sale of 9m shares. The company will be sold to two bu... |
Indian cement prices forecast to fall 1-3%21 June 2023, Published under Cement NewsCement prices in India are expected to fall by 1-3 per cent in the current fiscal year (April 2023-March 2024), after recording a four per cent compound annual growth rate (CAGR) over the past four fiscal years to a new all-time high of INR391 (US$4.77)/50kg bag, according to CRISIL Market Intelligence and Analytics. The increase in prices was due to disruptions caused by COVID-19, followed by a sharp surge in input costs, especially thermal coal, further aggravated by the Russia-Ukraine wa... |