Cement News tagged under: Indian subcontinent

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India Cements joins forces with Tvasta on 3D printed construction solutions

30 May 2022, Published under Cement News

The India Cements is collaborating with Tvasta Manufacturing Solutions to develop energy-efficient construction methods using 3D printing. Tvasta’s technology uses 3D-printing platforms for faster, more economical and more sustainable construction methods, compared to traditional technologies, which can be used for a variety of applications, including housing, sanitation, infrastructure and defence. According to reports in The Hindu Business Line, the 3D construction methods use 30 per cen...

Multimodal transport to ease Indian cement supplies and prices

27 May 2022, Published under Cement News

The Indian government is looking at ways to balance up supply and demand of cement across the country, while also helping to reduce cement prices. Cement producers in southern India have idle capacity due to low demand, while in the north of the country demand remains high and cement is in short supply. According to a government spokesperson, one proposal is to transport cement by sea from southern India to a port in eastern Indian eg, Haldia, from where it can be taken to cities such as Var...

HeidelbergCement India posts 7.2% uptick in revenue in FY22

25 May 2022, Published under Cement News

HeidelbergCement India has recorded a one per cent YoY increase in revenue (net of taxes) to INR5867m (US$75.65m) in the first quarter of 2022. EBITDA over the same period has fallen 22.1 per cent to INR1186m, with the EBITDA margin contracting from 26.2 to 20.2 per cent. Profit after tax in the 1Q22 came in at INR936m, down 33.1 per cent YoY. EBITDA per tonne stood at INR961, a decline of 21 per cent YoY. Sales volumes of 1.23Mt were recorded in the 1Q22, down from the 1.25Mt seen in the sa...

Shree Cement sees 4% increase in revenue in 1Q22

24 May 2022, Published under Cement News

Shree Cement has reported a 3.9 per cent YoY uptick in revenue to INR40.99bn (US$527.8m) in the opening quarter of 2022. Sales volumes over the same period slipped two per cent to 8Mt, while EBITDA declined to INR10.49bn, compared to INR13.04bn in the 1Q21. The EBITDA margin contracted from 31.97 per cent in the 1Q21 to 24.75 per cent this year.   According to BusinessLine Online, the growth in revenue is being attributed to price increases as cost pressures and inflation continue to ha...

Prices expected to fall after excise duty cut on fuel

24 May 2022, Published under Cement News

The cut in excise duty on fuel by India’s government is expected to lead to price reduction for cement users as the cement industry saves on transport and freight costs, according to companies and analysts, reports Business Standard. In April most cement companies increased prices by 8.3 per cent to INR390 (US$5.02)/50kg bag with expectations for May indicating a further price increase. However, according to analysts, there could be a reduction of the price by as much as INR15/bag although s...

Nuvoco Vistas Corp sees 24% increase in revenue in FY21-22

23 May 2022, Published under Cement News

India-based Nuvoco Vistas Corp has announced its audited financial results for the financial year ended 31 March 2022. Consolidated revenue from operations improved by 24 per cent to INR93.18bn (US$1.2bn) for FY21-22 while consolidated EBITDA reached INR15.39bn and profit after tax at INR320m. Consolidated net debt declined by INR16.66bn to INR50.64bn in the FY21-22. Commenting on the financial results, Nuvoco Vistas Corp MD, Jayakumar Krishnaswamy, said: "FY22 was an exceptionally c...

JK Cement 4Q net profit advances 36%

23 May 2022, Published under Cement News

Indian cement producer JK Cement reported a standalone net profit of INR862.6m (US$11.1m) for the quarter ended 31 March 2022, representing an increase of 36.2 per cent when compared with the 1Q21 when net profit reached INR633.4m. Net revenue increased 10.6 per cent to INR22.689bn in January-March 2022 ffrom INR20.525bn in the year-ago period. However, operating expenses were up 16.9 per cent tYOY to INR18.863bn from INR16.338bn in the 4Q21. The company’s operating profit slipped by...

Star Cement posts net profit rise

18 May 2022, Published under Cement News

Star Cement Ltd saw a 24.2 per cent advance in revenues to INR7.49bn (US$96.6m) in the January-March 2022 quarter from INR6.03bn in the corresponding period of the previous year. The company’s net profit increased 3.6 per cent to INR884.2m in the 1Q22 from INR853m in the 1Q21.

Adani Group acquires Holcim India

16 May 2022, Published under Cement News

Adani Group has agreed to purchase Holcim India for CHF6.4bn (US$6.37bn). The deal includes Holcim’s 63.11 per cent stake in Ambuja Cement, which owns a 50.05 per cent interest in ACC, as well as its 4.48 per cent direct stake in ACC. The combined footprint of Ambuja Cement and ACC includes 31 cement production sites with a total cement production capacity of 66Mta and 78 ready-mixed concrete plants across India. The transaction is expected to complete in the second half of 2022.   “Wit...

JSW Group to submit bid for Holcim India

11 May 2022, Published under Cement News

JSW Group has revealed plans to submit a US$7bn bid for a controlling stake in Holcim’s India assets. Holcim currently holds a 63.1 per cent share in Ambuja Cements and a 4.48 per cent share in ACC , with Ambuja controlling a 50.05 per cent stake in ACC. Speaking to Financial Times, Sajjan Jindal, chairman and managing director of JSW Group, said that the company would fund US$4.5bn of the bid while private equity players would provide the remaining US$2.5bn.   JSW Group currently ...