Cement News tagged under: Indian sub-continent
UltraTech Cement's consolidated net sales reach INR75,630m in 1QFY2129 July 2020, Published under Cement NewsUltraTech Cement Ltd’s (Aditya Birla Group) consolidated net sales reached INR75,630m (US$1.01bn) in the 1QFY21 compared to INR112,290m in the 1QFY20. Profit before interest, depreciation and tax was at INR23,530m, down from INR30,840m in the corresponding period of the previous year. Normalised profit after tax was INR9,060m compared to INR12,810m in the corresponding period of the previous year. On a standalone basis, net sales stood at INR72,900m compared to INR10,8510m in 1QFY20. Profi... |
India Cements post 77% drop in 1Q net profit28 July 2020, Published under Cement NewsIndia Cements reported a 76.5 per cent fall in its net profit to INR169.6m (US$2.3m) in the first quarter of FY20-21 from INR722.1m in the 1QFY19-20. Total income declined 48.3 per cent to INR7.603bn in the 1QFY20-21 from INR14.72m in the year-ago period. EBITDA reached iNR1.59bn despite a steep drop in volumes due to the COVID-19 pandemic. “By first quarter results, it is just like reaching at the crossroads. We have dealt with the COVID pandemic, we have neither asked any employees to ... |
Indian demand expected to fall 25% in FY2124 July 2020, Published under Cement NewsCement demand in India is forecast to contract by up to 25 per cent in FY20-21 due to the coronavirus lockdown and subsequent specific restriction on construction activities, according to ratings agency ICRA. The downturn would be mainly felt in cities while rural housing and infrastructure projects in remote areas are expected to continue to support cement demand. "ICRA expects cement demand to de-grow by 22-25 per cent in FY2021 given the prolonged nationwide lockdown and subsequent stat... |
LafargeHolcim Bangladesh reports 6% increase in PAT23 July 2020, Published under Cement NewsLafargeHolcim Bangladesh has seen its profit after tax advance 6.2 per cent to BDT843m (US$9.94m) in the first half of 2020, against BDT794m last year. The company has noted the remarkable nature of the results, considering the impact of the COVID-19 pandemic. In the second quarter the cement producer saw revenue drop 41.3 per cent from BDT4.498bn in 2Q19 to BDT2.641bn in the 2Q20. Operating profit fell 62.9 per cent to BDT268.2m in the 2Q20 from BDT722.3m while profit after tax saw a 26.5... |
ACC reports 40% fall in net profit21 July 2020, Published under Cement NewsIndia’s ACC (LafargeHolcim) has reported a 40 per cent YoY decline in consolidated net profit to INR2.71bn (US$36.2m) in the first quarter of FY20-21, compared to INR4.55bn in the year-ago period. Total sales also fell 38 per cent YoY to INR25.2bn from INR40.59bn in the 1QFY19-20. Standalone revenue was down 37.3 per cent YoY in the June 2020 quarter, decreasing to INR26bn from INR41.49bn last year. The company’s cement business saw revenue slip 33 per cent YoY to INR25.5bn, while sales ... |
Pakistan's cement export volumes rise20 July 2020, Published under Cement NewsPakistan's Federal Bureau of Statistics (FBS) has released cement export data for the 12 months of July-June (2019-20). During this period, the quantity of cement exports increased but the dollar value fell, reflecting a weaker global market for cement and clinker in the aftermath of COVID-19. Pakistan's total exports (all commodities) decreased by 6.8 per cent during the FY19-20 to US$21.394bn against US$22.958bn in the corresponding period of last year, the PBS data revealed. Pakistan'... |
Indian cement prices struggle in July20 July 2020, Published under Cement NewsAll-India cement prices declined by one per cent to INR366/50kg bag (US$4.88/50kg bag) in July, according to Kotak Institutional Equities. Prices in southern India also declined one per cent MoM in July. In the northern and eastern markets prices fell by two per cent and one per cent, respectively, while prices in the west and central India remained resilient. The price difficulty has been attributed to a range of reasons, with northern dealers reporting a lack of new construction acti... |
India's capacity utilisation falls in the 2Q16 July 2020, Published under Cement NewsThe capacity utilisation of India’s top 10 cement producers fell to 52 per cent in the quarter ending 30 June, compared to 76 per cent in the year-ago period, according to The Hindu BusinessLine. The decline has been attributed to weak demand and logistics restrictions amid the COVID-19 pandemic. The lower capacity utilisation reportedly increased operational costs despite a dip in fuel and raw material costs. With the onset of the monsoon season and housing projects facing labour issues, d... |
Ambuja Cements reports 12% increase in net profit13 July 2020, Published under Cement NewsIndia’s Ambuja Cements reported a 12 per cent YoY rise in consolidated net profit to INR5.54bn (US$73.73m) for the quarter ending 31 March, with sales volumes falling 10 per cent to 5.77Mt. The company also noted that its greenfield expansion project at Marwar Mundwa, Rajasthan, is on schedule and expected to commence operations by next year. Elsewhere, Ambuja Cements is set to digitise its entire supply chain to improve visibility and optimise cost going forward, announced Martin Kriegne... |
Bureau of Indian Standards issues first licence for microfine OPC production09 July 2020, Published under Cement NewsThe Bureau of Indian Standards (BIS) has granted the country’s first licence for the manufacture of microfine ordinary Portland cement and ultrafine ground granulated blastfurnace slag (GGBS) to Counto Microfine Products. The company is a joint venture between Ambuja Cements and Alcon group and has one of the largest manufacturing facilities for microfine materials in Goa. The Goan firm will now be able to produce and sell the products with an assurance on the quality and reliability of th... |