Cement News tagged under: Madras Cements

RSS feed

India: power advantage for Madras Cements

05 July 2013, Published under Cement News

Analysts predict that Madras Cements Ltd should record 9-10 per cent volume growth through FY14 and FY15 on the back of power generation projects,  additional capacity and a gradual improvement in the cement market. Given that power comprises a significant portion of cement production costs and given Madras Cements’ presence in the power-starved southern states of Tamil Nadu and Andhra Pradesh, the new captive power source is a huge advantage for the company over its peers. The company ...

Petron wins new order from Madras Cements, India

02 January 2013, Published under Cement News

Petron Engineering Construction has received an order from Madras Cements a proposed grinding unit at Anakapalli Visakhapatnam.  “The order is for mechanical, electrical and instrumentation fabrication and erection works for the proposed cement grinding unit at Anakapalli Visakhapatnam,” Petron Engineering said in a statement.

Madras Cement net profit rises 25%, India

03 August 2012, Published under Cement News

Madras Cements Ltd said on Thursday it earned a net profit of INR123.01 crore for the quarter ended June 2012 as against INR98.30 crore it earned in the corresponding quarter last year, an increase of 25%. “The increase in profit during the quarter was due to higher sales and better realisation for the cement sold," the company said. Net turnover including other income rose to Rs 997.04 crore as compared to Rs 770.01 crore, an increase of 29%.

Madras Cements boosts grinding and power generation capacity

11 July 2012, Published under Cement News

India-based producer Madras Cements is currently in the process of increasing grinding capacity at two of its cement works while two power generation projects are set to become operational in the current quarter. The company notes in its 2011-12 annual report that is Ramasamy Raja Nagar plant is in the process of installing a roll press to increase cement grinding capacity from 210tph to 260pth. The project is expected to be commissioned in March 2013. Meanwhile, at its Salem grinding ...

Indian producers issued with record fine on price fixing

21 June 2012, Published under Cement News

Eleven Indian cement producers have been issued a total fine of INR60bn (US$1.1bn) for price fixing, the highest ever fine issued by the country’s antitrust authority in its three-year existence. The Competition Commission of India (CCI) said in its ruling that the companies colluded to underuse their plants and create an artificial cement shortage. "The commission has found that the cement companies have not utilised the available capacity so as to reduce supplies and raise prices in tim...

Reliance MF hikes stake in Madras Cements, India

19 June 2012, Published under Cement News

Reliance Mutual Fund has increased its stake in India-based producer Madras Cements to just over five per cent with the acquisition of 90,000 shares. With this acquisition on 14 June, the Chennai-based cement maker said the fund house's holding in the company now stands at 5.01 per cent, or 1.193 crore shares, according to a Bombay Stock Exchange filing by Madras Cements. Reliance Mutual Fund is a part of Reliance Capital, the financial services arm of Anil Ambani Group. (Source: Press Tr...