Cement News tagged under: Indian sub-continent
JK Lakshmi Cement reports 6% dip in net profit14 August 2020, Published under Cement NewsIndia’s JK Lakshmi Cement saw a 5.8 per cent YoY decline in consolidated net profit to INR506.3m (US$6.76m) for the June quarter, against INR537.5m in the year-ago period. Revenue from operations also fell 19.8 per cent YoY to INR9.12bn from INR11.36bn in the 1QFY19-20. "Sales volume was severely impacted by lockdown restrictions during most part of the quarter [...] resulting in sales volume plunging by 18 per cent in Apr-June 2020 over Apr-June 2019,” said the company. However, on a ... |
Ramco Cements aims to be debt-free in three years14 August 2020, Published under Cement NewsIndia’s Ramco Cements has announced plans to become debt-free in three years, while noting that FY20-21 will be a challenging year for the company. "While the initial few months were impacted by COVID-19 related lockdown, the remaining months would see slower pick up as majority of Government spending gets channelised towards healthcare and supporting weaker sections of society," said A V Dharmakrishnan, CEO. "Our priorities will be to efficiently market products and to become a debt-free ... |
Chairman reflects on tough period at UltraTech Cement's AGM13 August 2020, Published under Cement NewsKumar Mangalam Birla, chairman of UltraTech Cement (Aditya Birla Group), opened the 20th Annual General Meeting on 12 August 2020, via video conferencing and reflected on the company's 1Q20-21 performance. Mr Mangalam Birla said the company's annual report's theme this year was 'Tough times don’t last; tough companies do'. "And your company is as tough as it gets!" he added. He announced that UltraTech's net sales in 1Q20-21 reached INR75.63bn (US$1.01bn), compared to INR112.29bn in the... |
Pakistan cement production witnessed a mixed trend in FY19-2013 August 2020, Published under Cement NewsThe output of Pakistan's large-scale manufacturing industries (LSMIs) declined by 10.2 per cent in the previous fiscal year, FY19-20, compared to FY18-19, as almost all of the major manufacturing sectors posted negative growth, according to the data released by the Pakistan Bureau of Statistics (PBS). According to provisional quantum index numbers of large-scale manufacturing industries (QIM), the LSMI output declined by 7.7 per cent in June 2020, compared to June 2019, and increased by 16.8... |
Star Cement reports 36% fall in total income13 August 2020, Published under Cement NewsIndia’s Star Cement has reported a 36.4 per cent YoY fall in total income to INR2.98bn (U$39.77m) in the first quarter of the FY20-21, compared with INR4.68bn in the year-ago period. The company’s net profit also decreased 48.4 per cent YoY to INR433m from INR838.8m in the year-ago period. |
Shree Cement sees 14% fall in net profit12 August 2020, Published under Cement NewsIndia’s Shree Cement has seen a 13.5 per cent YoY fall in net profit to INR3.3bn (US$44.17m) for the June quarter of FY20-21, compared with INR3.82bn in the year-ago period. Revenue also declined 24 per cent to INR24.8bn from INR33.02bn. However, expenses also decreased 25 per cent to INR21.63bn due to lower raw materials costs. The company’s EBITDA dropped 22 per cent YoY to INR7bn, while EBITDA/t finished at INR14.22bn. |
Bangladesh's raw material imports decline 13%11 August 2020, Published under Cement NewsThe value of raw material imports for Bangladesh’s cement industry fell almost 13 per cent YoY to BDT64.81bn (US$764.1m) in the FY19-20, on the back of a stagnation in construction activities due to the COVID-19 pandemic. Businesses imported 18.6Mt of cement clinker, granulated slag, limestone flux and gypsum in the last fiscal year, down from 20.99Mt a year ago, according to the Chattogram Custom House. Most of the materials came through the Chattogram port from Thailand, Vietnam and Chin... |
Birla Corp to expand Durgapur grinding unit10 August 2020, Published under Cement NewsIndia's Birla Corp, owned by MP Birla Group plans to expand the existing capacity of its grinding plant at West Bengal’s Durgapur by installing an INR725.7m (US$9.69m) cement grinding unit. The company said that the demand of premium slag-based cement in the eastern region is expected to be robust and therefore, it would require extra grinding capacity. "The board of directors of the company at their meeting held today approved the proposal to carry out the expansion of existing capacity of... |
Cement export from Bangladesh begins in July10 August 2020, Published under Cement NewsBangladesh's cement industry has earned export revenue of US$0.53m in July 2020, the first month of FY20-21, compared to US$0.66m bagged in July 2019. The weak start at the beginning of the new fiscal year reflects the fall in exports by 20 per cent over the year-ago period. The figure also includes a minor amount of salt, stone and related products, says data of Bangladesh Export Promotion Bureau (EPB). The export value for cement decreased by 37 per cent, underperforming when compared wit... |
Dalmia Bharat posts 24% YoY increase in net profit07 August 2020, Published under Cement NewsIndia’s Dalmia Bharat has reported a 23.7 per cent YoY rise in consolidated net profit to INR1.88bn (US$25.08m) for the quarter ending June 2020, compared with 1.52bn in the year-ago period. However, revenue from operations declined 22.2 per cent to INR19.74bn from INR25.37bn. "Despite the challenges posed by COVID-19, the company once again delivered a strong performance and achieved an EBITDA of INR1675/t during this quarter," said the company. "The same is the highest ever EBITDA achie... |