Cement News tagged under: JK Lakshmi Cement

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Indian cement companies expected to raise prices

20 November 2017, Published under Cement News

Indian cement companies are expected to raise cement prices in reaction to the recent ban on petcoke and furnace oil, which came into effect in Uttar Pradesh, Haryana and Rajasthan. The ban is expected to affect in particular Shree Cement, JK Cement, JK Lakshmi Cement, Ambuja Cement, India Cements and ACC, which operate in these states. The price hike is predicted to be around INR10 (US$0.15)/bag. Other parts of the country could be affected in the future as the Supreme Court has rec...

JK Lakshmi Cement's reports 18% rise in 2Q revenue

10 November 2017, Published under Cement News

JK Lakshmi Cement reported a net profit of INR132m (US$2m) for the 2QFY17 period ended 30 September, a fall from INR249m of the year-ago period. However, the company also  posted a revenue of INR7.7bn representing a YoY increase of 18 per cent, according to The Times of India. The second quarter of 2017 saw a minor rise in EBITDA to INR1.12bn from INR1.11bn in 2QFY16. In addition, the cost of power and fuel significantly increased to INR1.79bn from INR1.16bn in the corresponding period in...

India: five cement producers to appeal the CCI order

06 February 2017, Published under Cement News

Five of the seven cement companies which were fined by the Competition Commission of India (CCI) in January, for alleged bid rigging of a 2012 tender put out by the Haryana government, will appeal to the Competition Appellate Tribunal. Shree Cement, JK Cement, Ambuja Cements, ACC Ltd and JK Lakshmi Cement will contest the CCI order as they are of the view that they have a ‘good case for succeeding in the appeal.’ Other companies such as UltraTech Cement and Jaiprakash Associates are curren...

India: Seven cement firms fined for bid-rigging

20 January 2017, Published under Cement News

The Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen...

India: JK Lakshmi approves raising INR5bn

27 October 2016, Published under Cement News

A JK Lakshmi Cement board meeting held on 26 October approved the raising of INR5bn (US$74.7m) through the issuance of non-convertible debentures (NCDs) on private placement basis. The company issued a statement to this effect to the BSE. JK Lakshmi Cement operates integrated plants at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat in Gujarat and Jharli (Haryana). The company boasts an 8.4Mta capacity which is scheduled to increase to 12Mta.

India: JK Lakshmi to expand Rajasthan mine

17 August 2016, Published under Cement News

JK Lakshmi Cement has received environmental clearance for expansion of its limestone mine output in Rajasthan, entailing an investment of INR1.20bn (US$17.94m). The mined limestone will be supplied to a cement plant in Sirohi, says India Infoline news service. "The Environment Ministry has examined the proposal of JK Lakshmi Cement and granted the environment clearance for expansion of its limestone mine in Rajasthan," a senior government official said.   The company's proposal is to enh...

India: Lakshmi Cement gets green light to expand Sirohi limestone mine

26 July 2016, Published under Cement News

Lakshmi Cement has been given environmental clearance to expand its opencast limestone mine in the Sirohi district of Rajasthan. Under the proposals, the mine’s capacity will be expanded from 8 to 13Mta. The firm had originally applied for permission for the project in March 2013, but environmental clearance was not given until July 2016. Work on the 390.625ha site is expected to commence immediately.

India: JK Lakshmi Cement 4Q net profit soars

19 May 2016, Published under Cement News

JK Lakshmi Cement’s net profit soared in the quarter ended 31 March 2016 from INR60.5m (US$ 0.90m) to INR483.8m YoY. Total 4Q revenues of the company jumped 27 per cent from INR5.782bn in FY14-15 to INR7.351bn. The commissioning of the Durg plant in March 2015 helped production increase by 42 per cent in the quarter. "Company's steep growth in production and sales along with its relentless efforts to improve efficiency and cutting operation cost has enabled the firm to post profitabil...

India: Cement stocks rise as demand recovers

14 April 2016, Published under Cement News

Indian cement manufacturers are set to continue the strong performance which has seen their stocks outperform the BSE Sensex by a factor of ten over the past month. In this period, the Economic Times reports, India Cements’ shares are up 23 per cent, ACC is up 18 per cent, JK Cement and JK Lakshmi Cement are up 16 per cent, Ramco Cements is up 14 per cent and Ambuja Cements is up 12 per cent. The market as a whole, as tracked by the Bombay Stock Exchange’s Sensex index, is up just 1.2 per...

Promoters of the Udaipur Cement Works to sell 13.64 per cent stake

08 December 2015, Published under Cement News

The promoters of the Udaipur Cement Works, including JK Lakshmi Cement Ltd, will sell their combined stake of 13.64 per cent in the company. The promoters of Udaipur Cement Works will sell the stake through the offer for sale (OFS) route today. "The floor price offered under the sale shall be INR10 per share of Udaipur Cement Works Ltd," the promoters told the Bombay Stock Exchange. "JK Lakshmi Cement, Florence Investech and JK Paper, part of the promoter group of Udaipur Cements Works, in...