Cement News tagged under: Indian sub-continent
Premier Cement Mills' profit balloons in 2QFY23-2430 January 2024, Published under Cement NewsPremier Cement Mills PLC , the second-largest cement maker in Bangladesh, uploaded its financial results on the Dhaka Stock Exchange (DSX) on 28 January. The company witnessed a surge in profit by nearly 30-fold in the October-December 2023 quarter on the back of higher sales. It earned a profit of BDT220m (US$1.99m) in the second quarter, which was BDT7.5m in the similar three-month period of 2022-23, a YoY increase of 2833 per cent. Managing director of Premier Cement, Mohammed Amir... |
Lucky Cement records 92 per cent jump in profit29 January 2024, Published under Cement NewsLucky Cement Ltd posted its financial result for 1HFY24 at the Pakistan Stock Exchange (PSX) on 26 January. The company announced unconsolidated earnings of PKR13.710bn (US$49m), showcasing a hefty jump of 92 per cent YoY. Gross sales increased to PKR79.26bn from PKR58.70bn over the same period. The company has decided to undertake a 28.8MW wind power project at the Karachi plant. The project is expected to be completed by 1QFY25. The company is also expected to increase solar capacities ... |
Adani Group's fast-track expansion26 January 2024, Published under Cement NewsAdani Group has seen fast-track expansion since May 2022, when it was the successful bidder to acquire Holcim India, consisting of ACC Ltd and Ambuja Cements. Built on a diverse industry portfolio - renewables, energy and utilities, transport and logistics, and financial services - the group is expected to bring strong investment to the Indian cement sector. The group's cement capacity is currently more than 70Mta in India. The US$10.5bn acquisition of Holcim India was completed in Septemb... |
Cement dispatches show mixed trend in January26 January 2024, Published under Cement NewsThe All Pakistan Cement Manufacturers Associations (APCMA) is yet to issue January 2024 cement dispatches data about local consumption and export. However, Topline Pakistan Research has forecast that Pakistan total cement sales in January 2024 will decline by 14-18 per cent YoY and MoM to reach 3.4Mt. According to a report, local cement dispatches are likely to fall by 15-19 per cent YoY and MoM to total 2.9Mt, primarily due to a slowdown in construction activities due to higher cost of co... |
Dalmia Bharat Ltd records INR2660m profit in 3QFY2425 January 2024, Published under Cement NewsDalmia Bharat Ltd reported profit after tax of INR2660m (US$32m) in the 3QFY23-24, up 22 per cent from INR2180m in the 3QFY22-23. Sales volume reached 6.8Mt in the 3QFY23-24. This was a rise of 8.1 per cent from the 6.3Mt recorded in the 3QFY22-23. The 3QFY23-24 EBITDA for the company amounted to INR7750m, a rise of 20.3 per cent from the INR6440m reported in the 3QFY22-23. Commenting on the quarter gone by, Puneet Dalmia, MD and CEO of Dalmia Bharat Ltd, said, “India has undergone a hu... |
Lucky Cement expected to post strong financial results24 January 2024, Published under Cement NewsPakistan cement manufacturers, listed in Pakistan’s Stock Exchange (PSX), are yet to start posting their financial results on the bourse for 2QFY23-24 and 1HFY23-24. Mixed results are expected, due to the high construction cost, cement bag and steel prices, unviable interest rates and peak inflation. However, Lucky Cement Ltd ,which is scheduled to announce its 2QFY24 financial result on 25 January 2024, is forecast to lead the way. AHL Research forecasts the company to post a standalon... |
Pakistan's cement exports consistently increase23 January 2024, Published under Cement NewsPakistan's cement industry has registered significant growth in US-dollar revenue and volume growth for cement and clinker exports during the first six months of FY23-24 (July-December 2023), due to the continued good exchange rate of the Pakistani rupee against foreign currency and other factors. Pakistan's cement and clinker exports increased by around 58.8 per cent in the 6MFY23-24 to US$135.92m (3.503Mt), compared to US$85.61m (1.71Mt) in the 6MFY22-23, the Pakistan Bureau of Statis... |
UltraTech Cement records consolidated net sales of INR164bn22 January 2024, Published under Cement NewsUltraTech Cement Ltd ( Aditya Birla Group ) has released its financial results for the quarter ended 31 December 2023, reporting consolidated net sales of INR164,870m (US$1.983bn) compared with INR152,990m of the corresponding period of the previous year. Profit after tax was INR17770m, the highest-ever quarterly figure as compared to INR10580m in 3QFY22-23. The domestic grey cement sales volume rose five per cent YoY and one per cent QoQ, respectively. Improved operational efficiencies, ... |
Adani Group ponders new cement plant in Godda22 January 2024, Published under Cement NewsAdani Group is considering to build a cement plant in Santhal Pargana, having set up a 1600MW thermal power plant in Godda that will come on-stream mid-2024. A company spokesperson said: “In keeping with our groups expansion plans, we are considering a feasilbility study to set up a cement plant, most probably in Godda.” The proposed plant will use fly ash from the company’s existing power plant. Currently, an ACC plant, acquired lat year by the group, is receiving the fly ash as a ... |
Red Sea crisis on Pakistan’s cement industry18 January 2024, Published under Cement NewsPakistan closely monitors the Red Sea crisis as it could disturb the movement of cement export cargoes to the USA and Europe as well as affect coal imports at Pakistani ports. It is also feared that any trade re-route would spark new inflation and supply chain disruption worldwide and in Pakistan. IMS Research, in a situation review report, warned that escalating tensions in the Middle East have begun to exert a notable influence on global trade, with Yemeni Houthi actions targeting commerc... |