Cement News tagged under: Indian subcontinent
Nuvoco Vistas sees 32% drop in 2Q EBITDA on sluggish demand24 October 2024, Published under Cement NewsIndia-based Nuvoco Vistas Corp posted a revenue of INR22.69bn in the 2QFY24-25 ended 30 September 2024. This represents a 11.8 per cent drop from INR25.73bn in the 2Q23-24. EBITDA reached INR22.9m, a decline of 31.8 per cent from INR33.6m in the 2QFY23-24. The company sold 4.2Mt of cement in the July-September 2024 quarter, down by 6.7 per cent from 4.5Mt in the year-ago quarter. “The macro environment remains challenging, characterised by sluggish demand and pricing pressure,” the compa... |
Premier Cement returns to profit24 October 2024, Published under Cement NewsPremier Cement Mills Ltd (Bangladesh) has reported a net profit of BDT742.3m (US$6.2m) for the period ending 30 June 2024. This marks a significant turnaround from a BDT842.3m loss in the equivalent period of the previous year. A company official said that the combination of reduced foreign exchange losses and starting operations from a new factory unit has helped Premier Cement produce its cement at a low cost, increasing its capability of business amid intensive competition. Furth... |
Lucky Cement installs 28.8MW wind power project at Karachi plant23 October 2024, Published under Cement NewsPakistan-based Lucky Cement announced today the successful completion and commissioning of a 28.8MW captive wind power project at its Karachi plant. The project was completed within the stipulated timelines and costs and commenced operations on 21 October 2024. With this achievement, the company’s installed power generation capacity for self-consumption from renewable sources, including solar power and waste heat recovery plants at its Karachi and Pezu sites now stands at 55 per cen... |
Jindal Group to expand cement capacity to 7Mta23 October 2024, Published under Cement NewsJindal Group is expanding its cement grinding capacity to 7Mta by commissioning a 1.5Mta cement grinding unit in Odisha, India. In a statement, the group said, "Its arm Jindal Panther Cement (JPC) has commissioned the first cement grinding unit with a capacity of 1.5Mta, reinforcing commitment to low-carbon cement production. The facility will utilise about 1Mta of blast furnace slag." The grinding unit is designed with low-carbon technologies and uses slag to produce cement. The facilit... |
Heidelberg Materials Bangladesh reports loss in 3Q2422 October 2024, Published under Cement NewsHeidelberg Materials Bangladesh posted sales of BDT2934.9m (US$24.5m) in the July-September 2024 quarter, down 19.6 per cent YoY from BDT3651.3m in the 3Q23. Operating profit fell by 71.5 per cent YoY to BDT17.3m from BDT60.7m over the same period. The company also reported a net loss of BDT7.96m in the 3Q24. The loss per share was BDT0.14, according to a disclosure on the Dhaka Stock Exchange website. The company attributed the negative result to a drop in sales volumes and net sales ... |
State Bank of Pakistan reveals a rise in cement exports in FY23-2422 October 2024, Published under Cement NewsState Bank of Pakistan, the country’s central bank, released its state of economy 2023-24 on 17 October 2024. The annual report included the cement industry in Pakistan. It stated that cement production declined by 4.5 per cent in FY23-24, significantly lower than 13.7 per cent in FY22-23. The decline was largely due to a fall in domestic cement dispatches, which could be associated with rising prices. Yet, the cement export, on the other hand, experienced a notable increase from 4.6Mt in FY... |
Attock Cement Pakistan sees 96% 1Q post-tax profit drop21 October 2024, Published under Cement NewsAs announced on 18 October, Attock Cement Pakistan Ltd (ACPL) reported a significant decline in profit for the 1QFY24-25. The company revealed a profit after tax of PKR62m (US$223,674), a dramatic drop from PKR1.544bn in the same period last year, marking a 96 per cent YoY decrease. This decline is attributed partly to the gain from selling its subsidiary, Saqr Al Keetan, in the 1QFY23-24. However, a closer examination of the results indicates that increased distribution and financial cost... |
Cherat Cement Co appoints Azam Faruque as CEO18 October 2024, Published under Cement NewsCherat Cement Co Ltd has announced key executive appointments following its recent board elections. According to information from the Pakistan Stock Exchange (PSX), Omar Faruque has been re-appointed as chairman, while Azam Faruque will continue as chief executive officer. Both executives have been re-elected for a three-year term, starting on 16 October 2024. The appointment of Omar Faruque as chairman underscores the company's focus on maintaining strong governance and long-term lead... |
Gharibwal Cement posts 15% increase in FY net profit26 September 2024, Published under Cement NewsGharibwal Cement Ltd reported a net sales revenue of PKR18.165bn (US$65.5m) in the financial year ended 30 June 2024 (FY23-24), down 0.8 per cent from PKR18.316bn in the FY22-23. The Pakistani cement producer posted a gross profit PKR3.775bn, representing a 0.5 per cent decrease when compared with the year-ago period when gross profit was PKR3.793bn. Profit from operations slipped by 1.2 per cent to PKR2.75bn in FY23-24 from PKR2.783bn in FY22-23. However, net profit increased by 14.5 ... |
Ramco Cements invests US$7m in 1Mta capacity upgrade23 September 2024, Published under Cement NewsThe Ramco Cements Ltd announced it has increased its cement capacity by nearly 1Mta following the debottlenecking of cement capacity at its Kalavatala plant in Andhra Pradesh, India. The project has increased capacity at the cement works to 2Mta from 1.5Mta. In addition, the company’s Valapaadi grinding unit in Salem District, Tamil Nadu, also improved its efficiency, resulting in an increase in capacity from 1.6Mta to 2Mta, according to the Economic Times. "The company's total ceme... |