Cement News tagged under: Indian sub-continent
Indian prices expected to rise as demand falls20 May 2020, Published under Cement NewsIndian cement prices are expected to rise by INR15-20/bag (US$0.19-0.26) due to supply constraints, despite dealers across the country expecting demand to fall by 30 per cent on the back of stalled construction projects, reports analytics agency Crisil. However, over the medium term, the price hike is expected to be rolled back due to the low demand and rising competition. The delay in construction work is expected to be anywhere between 4-6 months, depending on the lockdown outcomes. ... |
Saurashtra Cement 1Q20 net profit rises to INR66.2m19 May 2020, Published under Cement NewsSaurashtra Cement reported a net profit of INR66.2m (US$0.87m) in the quarter ended March 2020 as against a net loss of INR55m in the year-ago quarter ended March 2019. Sales rose 10.2 per cent to INR1.76bn in the quarter ended March 2020 from INR160.61bn in the previous year's equivalent quarter. For the full year ended March 2020, net profit reported was IBR565.1m against net loss of INR492m during the previous year ended March 2019. Sales declined 2.2 per cent YoY to INR6.08bn in FY19-... |
Udaipur Cement Works records 207% surge in EBITDA19 May 2020, Published under Cement NewsIndia’s Udaipur Cement Works has reported an 18.4 per cent increase in total income to INR6.85bn (US$90.2m) for the financial year ending 31 March 2020, compared with INR5.79bn in the FY18-19. EBITDA surged 206.7 per cent YoY to INR1.26bn from INR410.9m. The company’s net profit also reached INR155.2m from an INR407.3m net loss in the previous fiscal year. |
KCP appoints new managing director14 May 2020, Published under Cement NewsIndia’s KCP Ltd has received shareholder approval for the appointment of V L Indira Dutt as its new chairperson and managing director with immediate effect. The company's executive chairman, V L Dutt, had passed away earlier this year. Prior to taking up the new responsibility, Indira Dutt was director of KCP Ltd, Velagapudi Foundation, KCP Vietnam Industries and V Ramakrishna Sons. |
Shree Cement posts 58% increase in profit12 May 2020, Published under Cement NewsIndia’s Shree Cement has seen a 57.6 per cent rise in consolidated net profit to INR5.36bn (US$70.78m) in the quarter ending 31 March 2020, compared with INR3.12bn in the year-ago period. The company’s total income remained largely consistent with last year at INR35.13bn from INR35.38bn. In the 4QFY19-20, the company’s fuel and power expenses declined 19.8 per cent YoY to INR6.98bn. During the full FY19-20 period, Shree Cement’s net profit advanced 52.1 per cent YoY to INR15.44bn from ... |
Bangladeshi cement export shows negative trend in 10MFY2011 May 2020, Published under Cement NewsAs per data released by Bangladesh Export Promotion Bureau (EPB), Bangladesh's government recorded a significant fall of 13.1 per cent to US$29.49bn in total exports during the first 10 months of the current FY19-20, against US$33.93bn in the corresponding period of FY18-19. Exporters and analysts attributed the drop to the closure of factories, lockdown in major export destinations followed by slow demand as well as order cancellations and delays due to the ongoing COVID-19 pandemic. Expo... |
LafargeHolcim Bangladesh 1Q20 net profit rises 46%11 May 2020, Published under Cement NewsLafargeHolcim Bangladesh sustained its profitability during January-March 2020, despite the ongoing COVID-19 pandemic. LafargeHolcim Bangladesh's net profit surged about 46 per cent YoY to BDT522.45m (US$6.2m) in the 1Q20, against earnings of BDT357.81m in the 1Q19. The rise in profit can be attributed to a decrease in cost of goods sold, alongside a reduction in finance cost and lower income tax during this accounting period. However, the company said hat the increase of revenue for Januar... |