Cement News tagged under: Indian subcontinent

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Ambuja Cements reports 11% QoQ revenue rise

08 February 2023, Published under Cement News

Ambuja Cements Ltd , part of the Adani Group , has reported an 11 per cent QoQ increase in revenue in the quarter ended 31 December 2022. Net revenue for the three-month period came in at INR80,360m (US$ 972.95m), compared to INR72,450m in the previous quarter, and INR77,100m in the same period a year earlier. EBITDA in the December 2022 quarter stood at INR11,380m, up from INR4360m in the previous quarter but down from INR12,130m in the same period in 2021. The EBITDA margin in the De...

The India Cements Ltd sees revenue slip MoM

07 February 2023, Published under Cement News

The India Cements Ltd has reported revenue from operations of INR12,194m (US$147.3m) in the quarter ended 31 December 2022. This compares to INR12,546m in the previous quarter and INR11,084m in the quarter ended 31 December 2021. In the October-December 2022 quarter, the company saw a profit of INR907.3m, compared to a loss of INR1375m in the previous quarter and a profit of INR33m in the same quarter a year earlier. Power and fuel expenses jumped from INR3518m in the December 2021 quar...

Star Cement reports 27% rise in 3Q net profit

06 February 2023, Published under Cement News

India-based Star Cement saw its net profit increase by 27 per cent YoY to INR303m (US$3.67m) for the quarter ended 31 December 2022 (3QFY22-23). Net revenue advanced by 15.4 per cent to INR6234.9m in the October-December 2022 quarter when compared with INR5400.9m in the year-ago quarter. Operating expenses in 3Q22 were up by 10.8 per cent to INR5582.8m from INR5040.5m in the 3Q21. Operating profit surged by 81 per cent to INR652.2m in the 3Q22 when compared with INR360.3m reported in ...

Adani Group shares tumble amidst fraud claims

31 January 2023, Published under Cement News

Gautam Adani, owner of the Adani Group , saw his fortune fall by US$20bn on Friday last week after investors withdrew from his companies amidst fraud claims made by a US investment firm. Hindenburg Research published a report accusing the Adani Group of decades of stock manipulation and accounting fraud, according to the BBC. The report was released ahead of a planned share sale for Adani Enterprises, but the news resulted in shares in the company falling by almost 20 per cent. Some of t...

Sagar Cements sees profits tumble in 2022

24 January 2023, Published under Cement News

India's  Sagar Cements Ltd  (SCL) has reported unaudited consolidated revenue from operations of INR5757.3m (US$70.7m) in the quarter ended 31 December 2022, up from the INR3336m seen in the same period a year earlier. However, a net loss of INR271.9m was recorded over the three-month period, compared to a profit of INR97.8m in the comparable period in 2021. Over the same period, power and fuel expenses jumped from INR1330m to INR2095.1m.  In the nine months ended 31 December 2022, unaudi...

Sagar Cements wins bid to acquire Andhra Cements

18 January 2023, Published under Cement News

Sagar Cements Ltd has been named as the successful bidder to acquire Andhra Cements Ltd. The Committee of Creditors at Andhra Cements voted with a majority in favour of the resolution plan filed by Sagar Cements Ltd, said Andhra Cements in a regulatory filing. Andhra Cements operates two cement plants – the 1Mta Durga Cement Works in Dachepalli and the 0.6Mta Visaka Cement Works in Vishakapatnam – both of which are currently closed. This deal will not only boost Sagar Cement’s cement pr...

ACC launches ACC ECOMaxX

04 January 2023, Published under Cement News

ACC Ltd , the cement and building material company of Adani Cement and part of the Adani Group, is set to bring a new dimension to the building materials industry with the launch of ACC ECOMaxX, an expert range of green concrete solutions. ACC ECOMaxX is the industry’s broadest range of green concrete solutions, with 30-100 per cent lower embodied carbon content compared to a reference concrete designed with ordinary Portland cement (OPC). The products are developed using a Unique Gre...

Indian Prayagraj region to become cement hub

02 January 2023, Published under Cement News

India’s Prayagraj region in Uttar Pradesh is set to become a cement production hub. In addition to its two existing cement plants – the 6.6Mta Sadwa works of Jaypee Group and the 2Mta Bara unit of UltraTech Cement – three further cement plants have been announced. JK Cement, KJS Cement and Eco Cement have started the process of building plants in the Trans-Yamuna region of Prayagraj. JK Cement has signed a Memorandum with Uttar Pradesh State Industrial Development Authority (UPSI...

Gujarat Sidhee Cement suspends production for 8-10 days

20 December 2022, Published under Cement News

India’s Gujarat Sidhee Cement Ltd has announced that the kiln at its Sidheegram plant will stop production for 8-10 days, effective from 19 December 2022, for maintenance work. Cement grinding and dispatches will continue as usual, according to the company.

Spearheading sustainability

30 November 2022, Published under Cement News

Organisations in India connected with the cement or concrete, construction and ancillary business sectors are compelled to focus on a strategy that integrates the company’s larger vision with sustainability goals. In this article, Mahendra Singhi, MD & CEO at Dalmia Cement (Bharat) Ltd, discusses how leading cement companies in India such as Dalmia Bharat Ltd are spearheading the industry’s shift towards a circular economy. By Mahendra Singhi, Dalmia Cement (Bharat) Ltd, India. Dalmia...