Cement News tagged under: Orient Cement

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Orient Cement's INR21bn project cleared to begin

12 April 2021, Published under Cement News

India’s environment ministry has reportedly cleared Orient Cement’s INR21bn (US$280.27m) expansion plan for its Telangana plant, according to the India National Press.  In 2017 the company announced its plans to expand its Devapur plant in Telangana and Chittapur unit in Karnataka for an estimated capital expenditure of INR36bn. However, the plans were stalled and were with the environment ministry for the last two years as an expert panel sought several clarifications.

Birla Corp posts 52% rise in net profit

26 May 2020, Published under Cement News

India’s Birla Corp has posted a 52 per cent YoY surge in net profit to INR1.95bn (US$25.76m) in the quarter ending 31 March 2020, while total income was down 9.4 per cent to INR17.18bn. Capacity utilisation during the 4QFY19-20 declined to 93 per cent from 98 per cent, on the back of a 13 per cent YoY drop in sales volumes to 3.3Mt. In the FY19-20 net profit advanced 98 per cent YoY to INR5.05bn. Orient Cement Birla Corp subsidiary, Orient Cement, recorded a 29 per cent YoY decline in...

Orient Cement reports modest decline in income

31 January 2020, Published under Cement News

India’s Orient Cement has reported a 1.3 per cent YoY decline in total income to INR5.67bn (US$79.3m) during the 3QFY19-20. However, the company considerably narrowed its net loss to INR56.7m from INR137m. In the nine months to December 2019, total income remained flat YoY at INR17.78bn from INR17.81bn. Meanwhile, it posted a net profit of INR425.2m against a INR144.3m loss during the year-ago period. Elsewhere, the company has also approved the resignation of its CFO, Sushil Gupta, wit...

Orient Cement sees 249% rise in net profit

30 July 2019, Published under Cement News

India’s Orient Cement has reported a 7.5 per cent YoY rise in total income for the quarter ending 30 June 2019, rising to INR6.91bn (US$100.56m) from INR6.43bn. Net profit for the 1QFY19-20 surged 249.1 per cent to INR558.9m, compared with INR160.1m of the year-ago period.

WBCSD and key cement producers launch Indian roadmap

27 June 2019, Published under Cement News

Major companies from the cement sector and the World Business Council for Sustainable Development (WBCSD) launched the ‘Indian Cement Sector SDG Roadmap’ on 25 June at an event organised by WBCSD and UN Global Compact Network India. The UN’s Sustainable Development Goals (SDGs) represent a universal framework that establishes a collective pathway for humanity to achieve prosperity for people and planet on the road to 2030. While governments have universally resolved to implement the SDGs, ...

Orient Cement reports INR137m loss in 3QFY18-19

12 February 2019, Published under Cement News

Orient Cement has reported its financial results for the third quarter of the FY18-19, ended 31 December 2018. Total income rose by 11.9 per cent to INR5.748bn (US$80.7m) in the 3QFY18-19 when compared with INR5.135bn in the year-ago period. When compared with INR5.632bn in the 2QFY17-18, sales rose 2.1 per cent. The India-based cement producer reported a smaller net loss of INR137m in the 3QFY18-19 than in the 2QFY18-19 when the net loss reached INR167.4m. However, YoY losses dropped by...

Orient Cement announces expansion plans

06 June 2018, Published under Cement News

India’s Orient Cement has announced plans to invest INR36bn (US$536.8m) over the next five years to expand its existing production capacity to 15Mta from 8Mta, with investments for the expansion to begin in FY20, according to Mint. The company has applied for environmental clearance to expand clinker and grinding capacity in Devapur, Telangana, and Chittapur, Karnataka, alongside plans to construct additional grinding capacity in the eastern market. The expansion plans are expected to be co...

Orient Cement terminates agreement with Jaypee Group firms

31 May 2018, Published under Cement News

India’s Orient Cement has terminated the agreement to acquire two assets, Bhilai Jaypee Cement Ltd and the Nigrie cement grinding unit, from Jaypee Group firms for a total investment of INR19.46bn (US$288.23m), according to the Hindu Business Line. Orient Cement had signed a share purchase agreement (SPA) with Jaiprakash Associates Ltd (JAL) for 74 per cent equity shares of Bhilai Jaypee Cement. Furthermore, the company had signed a business transfer agreement (BTA) with Jaiprakash Power V...

Orient Cement announces 4% revenue increase

04 May 2018, Published under Cement News

India's Orient Cement (OCL) has announced a 3.9 per cent YoY increase in revenue for the final quarter of FY18, rising to INR6.2bn (US$92.79m) from INR5.97bn. However, this was below estimates of 15 per cent YoY growth, according to an IIFL report. Net profit fell 22.5 per cent to INR128m, compared to INR165m of the year-ago period. The results have been partially attributed to weak demand in the southern market, which resulted in a capacity utilisation rate of below 85 per cent. Furthermo...

Orient Cement plans to expand facility in Telangana

27 March 2018, Published under Cement News

India-based Orient Cement has announced plans to expand its facility in District Mancherial, Telangana. The project is worth an estimated INR21bn (US$323.74m) and involves adding capacity to its waste heat recovery (WHR) unit, increasing output potential to 75MW from 50MW. An application for environmental clearance has been submitted, and once fully approved, the project is expected to be completed within a 24-month period.