Cement News tagged under: Orient Cement

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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.

Orient Cement reports 12% increase in revenue

30 January 2018, Published under Cement News

Orient Cement has seen a 12.1 per cent increase in revenue in the quarter ended December 2017, according to Money Control. The revenue rose to INR5.11bn (US$80.37m) from INR4.56bn seen in the year-ago period.  However, the company has reported a net loss of INR177m (US$2.78m) in the 3QFY18, compared to the loss of INR116m in the previous year’s period. EBITDA fell 14.1 per cent YoY to INR391m, and the EBITDA margin decreased by 240bps at 7.6 per cent.

Orient Cement to acquire two Jaypee units

01 June 2017, Published under Cement News

Orient Cement has reached an agreement to buy two cement units from Jaypee in the central and eastern regions of India. Orient will buy a 74 per stake in Bhilai which is a joint venture between Jaiprakash Associates Ltd (JAL) and Steel Authority of India Ltd (SAIL). Bhilai has an integrated PSC cement capacity of 2.2Mta consisting of a clinker unit in Satna area in Madhya Pradesh and a grinding unit in Bhilai, Chhattisgarh. Another agreement was signed for the acquisition of the 2Mta Nig...

Orient Cement sees pick up in volumes

10 May 2017, Published under Cement News

India's Orient Cement saw an improvement in fourth-quarter volumes but reported a 10.55 per cent decline in net profit due to the full extent of finance costs and depreciation. The CK Birla Group firm said total income increased by 36.98 per cent to INR6.957bn (US$107.6m) during the quarter under review. "The company has reported volume growth of 25 per cent over the corresponding quarter last year on account of increasing volumes across all its areas of operation," it said in a statement....

Orient Cement becomes CSI member

26 April 2017, Published under Cement News

Orient Cement Ltd, part of the CK Birla Group, announced that it has joined the Cement Sustainability Initiative (CSI). The Indian cement producer expects membership of this initiative to give further impetus to its efforts to create a safe and ecologically favourable environment and is in line with its vision to be the “employer of choice” and the “neighbour of choice” in the geographies where it operates, the CSI said in a statement on Tuesday. "We are delighted to be a part of the g...

India: Orient and JP deal reportedly in final stages

05 April 2017, Published under Cement News

Orient Cement's plan to acquire certain assets of the Jaypee Group is in the final stages and completion of the deal could be announced shortly, according to local media. Citing sources familiar with the development, 'Moneycontrol' reported today that management of both Orient and the Jaypee Group are due to meet this week to discuss last-minute details of the deal. In October 2016, the two companies announced that Orient Cement Would acquire Jaiprakash Associates’ entire stake in Bhil...