Cement News tagged under: Indian sub-continent
A quarterly review of the Pakistan cement industry11 March 2024, Published under Cement NewsDue to many competing factors, Pakistan's cement industry will likely see lukewarm sales in 3QFY23-24 (January-March 2024). The holy month of Ramadan will begin on 11 or 12 March and may exhibit weak cement demand for about 30 days. According to AKD Research, industry sales in the current quarter (3QFY23-24) are expected to remain subdued owing to election activity, Ramadan, Eid festivities and inclement weather conditions. Meanwhile, for the full fiscal year, the analyst expects local sa... |
Dandot Cement Co re-fired its kiln in December11 March 2024, Published under Cement NewsAccording to the1HFY23-24 financial report of Dandot Cement Co Ltd r eleased recently, the company officially commenced operations by lighting up the kiln in December 2023 and is currently in the testing phase. Nevertheless, the net loss for the period is PKR124.81m (US$0.48m) (Dec 2022: PKR126.28m), as no production was reported during the period due to Balancing, Modernisation and Replacement (BMR) of the plant at Dandot RS in Jhelum district, Punjab province, Pakistan. Company’s plan... |
Bangladesh cement export momentum continued in 8MFY23-2411 March 2024, Published under Cement NewsBangladesh has recorded a 51.9 per cent YoY growth in cement export revenue to US$12.35m in the first eight months of FY23-24 (July-February 2024) from US$8.13m in the same corresponding months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. The 24.1 per cent YoY rise in cement exports also surpassed the target of US$9.95m for 8MFY23-24. Bangladesh had set a higher target export reven... |
Pakistan cement industry exhibits record quarterly profit in 2QFY23-2408 March 2024, Published under Cement NewsPakistan's listed cement sector reported record earnings of PKR22.4bn (US$58.18m), up eight per cent YoY in the 2QFY23-24. This earnings growth is primarily due to higher gross margins and other income. Major contributors to the profitability of the cement sector in the 2QFY23-24 were Lucky Cement (LUCK), followed by Bestway Cement (BWCL) and Fauji Cement (FCCL), according to Topline Pakistan Research, Analysts believe these achievements were made despite a fall in cement dispatches. ... |
UltraTech commissions solar panels at Awarpur plant08 March 2024, Published under Cement NewsUltraTech ’s Awarpur Cement Works , has installed a series of floating solar photovoltaic panels (FSPVs) in two water reservoirs of 3600m 2 area, located in the mines area within the unit premises. With a DC capacity of 4.096MWp (3.30MW AC), the solar project consists of around 7600 solar panels. The project has the potential to generate 6173MWh solar energy annually. This solar power plant will help to reduce ~6000Mt of CO 2 emission annually, which is equivalent to the sequestration ... |
Pakistan International Bulk Terminal saw revenue surge by 38% in 1HFY23-2407 March 2024, Published under Cement NewsPakistan International Bulk Terminal Ltd (PIBTL) recently released its 1HFY23-24 (July-December 2023) report at the Pakistan Stock Exchange (PSX). During the period, the company earned a net profit of PKR1.056bn (US$3.78m) against incurring a loss of PKR232m in the same six months of the last fiscal year. This positive profit development was possible due to an increase in revenue to PKR8.07bn, up from PKR5.86bn during this period. The financial cost rose to PKR1.06bn and taxation also exp... |
Holcim Block launched in Bangladesh05 March 2024, Published under Cement NewsLafargeHolcim Bangladesh Ltd (LHBL) has launched its ‘Holcim Block’ to grab a share of Bangladesh's US$3bn domestic brick market. Around 150 manufacturers are making concrete blocks in different parts of the country. In a media statement, chief corporate affairs officer of LHBL, Asif Bhuiyan, said: “Concrete blocks are more environmentally friendly and durable than conventional bricks. Due to low carbon emissions during production, demand for these blocks is increasing worldwide.” Di... |
Gharibwal Cement achieves a gross profit of PKR1.499bn in 1HFY23-2405 March 2024, Published under Cement NewsGharibwal Cement Ltd (GWLC) of Pakistan announced its half-year financial results ending 31 December 2023, on 26 February 2024. The company saw a decrease in its profit to PKR685m (US$2.45m) in 1HFY23-24 from PKR1.12bn earned in the same period last year. This translated to a fall of 39.2 per cent in profit YoY. The major factor responsible for this fall was the increased cost of sales and other factors. According to the company's latest report, it experienced a 1.9 per cent decline in ne... |
Pioneer Cement’s profit expanded by 49% in 1HFY23-2404 March 2024, Published under Cement NewsPioneer Cement Ltd announced its 1HFY23-24 result on the Pakistan Stock Exchange (PSX) website on 28 February 2024, where the company posted a profit after tax (PAT) of PKR2.62bn (US$9.38m) compared to PKR1.76bn in the equivalent period last year. This translates into a growth of 49.1 per cent YoY on the back of reduced financial costs and an increase in other income. Its sales (gross revenue) increased to PKR18.82bn from PKR18.64.08bn in financial year-ago period. The company incurred a ... |
Cement performance aids Pakistan Stock Exchange's record 2023 profitability01 March 2024, Published under Cement NewsPakistan Stock Exchange saw record profitability in 2023 amid the cement performance. The profitability of the KSE-100 index continues to soar to new heights, posting a robust growth of 51 per cent YoY in 2023. According to AHL Research, the increase in profitability during the period was attributable to a surge of 82, 60, 55 and 47 per cent YoY growth in banks, E&Ps, power and fertilisers, respectively. The cement sector also saw an index gain during this period. An analyst said that th... |