Cement News tagged under: Prism Cement

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India: Prism Cement sees losses shrink for 1HFY17

23 December 2016, Published under Cement News

Prism Cement has released its financial results for the first half of its trading year, which began on 1 April, revealing a loss of INR50.62m (US$0.75m) over the six-month period. This compares favourably with the same period in FY16, when the company booked a loss of INR522.8m. Prism’s cement business saw revenues rise by 0.7 per cent and was the most profitable of the company’s three divisions. Prisms profits from cement rose by 68 per cent YoY to INR1.1bn. However, sales of cement and ...

India: Prism Cement returns to profit for 1QFY16-17

10 August 2016, Published under Cement News

Prism Cement has announced its trading figures for the first quarter of the 2016-17 financial year, CNBC’s MoneyControl reports. In the three months to June the firm made a net profit of INR156.5m (US$2.3m) as compared to a loss of INR149m (US$2.2m) in the same period last year. Overall revenue was down by 0.6 per cent at INR14bn (US$211m), but expenses declined more rapidly, falling by 2.9 per cent to INR13.5bn (US$202m). Looking to the future, the company said: "While the near term d...

India: Prism Cement secures fuel supplies

30 June 2016, Published under Cement News

After a successful bid, Prism Cement Ltd is set to receive 120,000tpa of coal from South Eastern Coalfields (SEC), a subsidiary of Coal India Ltd (CIL). In a filing to the BSE on 29 June 2016, Prism Cement said, “The company has successfully bid for 120,000 tonnes per annum of coal from South Eastern Coalfields Limited (a subsidiary of Coal India Limited) in a recently held auction of coal linkages for the cement industry… The company has secured part fuel requirement for the next 5 years...

India: Prism Cement acquires stake in BLA Power

07 June 2016, Published under Cement News

Prism Cement has agreed to acquire 15.23 per cent equity stake for approximately INR210m (US$3.14m) in BLA Power, which is in the sole business of generating thermal power. The company will enter into a power supply agreement with BLA Power for the purchase and consumption of 25MW of RTC (round the clock) power from BLA Power for its Unit I and II cement plants at Satna, Madhya Pradesh, under the Group Captive Arrangement of the Electricity Rules, 2005. This agreement is expected to reduce...

India: Prism Cement 4QFY16 profits fall 95% YoY

25 May 2016, Published under Cement News

Prism Cement’s net profits for the quarter to 31 March 2016 fell to just INR30m (US$445,000), down 95.2 per cent YoY, reports India Infoline. Net revenues at the company rose by 4.1 per cent YoY to INR15.9bn (US$236m), while profit margins were estimated at 6.3 per cent. Indian producers have struggled over the past year as low prices have hit profits even as volume sales have risen.

India: ECO Cement to produce for Prism Cement

11 May 2016, Published under Cement News

Cogencis EquityWire reports that ECO Cement (ECL) and Prism Cement have reached an agreement whereby the former will manufacture and supply cement to the latter. "The arrangement with ECL is expected to help the company optimise its logistic costs as well as improve local availability in its strategic markets of Bihar," Prism Cement said. ECL operates a cement-grinding plant with a capacity of 0.6Mta in Bihar's Bhabhua district.

Prism Cement's credit metrics seen improving from FY15

04 December 2013, Published under Cement News

India-based cement producer Prism Cement Ltd is expected to see an improvement in credit metrics from FY15 on the back of an overall improvement in operating efficiency and an absence of any debt-led capex, according to a recent note by India Ratings. It has assigned Prism Cement Limited (PCL) a Long-Term Issuer Rating of 'IND A-'. The Outlook is Stable. The research house notes that the sharp deterioration in PCL's financial profile in FY13 was largely driven by the breakdown of a silo a...

Railway projects arouse interest from Indian cement producers

13 February 2013, Published under Cement News

With Indian railways showing a renewed focus on private partnerships, Jindal, Adani and a consortium of cement companies (UltraTech, Prism and Madras Cement) have been linked to several port connectivity projects, according to Business Standard (BS). The railway expects to raise around INR50,000m (US$928.1m) from the investment in port connectivity projects over the next five years. To begin with, it expects investment worth INR38,000m from the private sector for six port connectivity proje...

Bihar cement prices rise as supplies fall, India

09 April 2012, Published under Cement News

Cement prices in the Indian state of Bihar have risen by almost 50 per cent due to increased construction activity and the temporary shutdown of a nearby Prism Cement unit, the Economic Times of India reports. Bihar, situated in eastern India, has no major cement production facilities and relies on cement from plants located in Satna, MP, where prices have been rising due to heightened building activity. Compounding the issue is the shutdown of Prism Cement’s Satna unit which satisfies a ...

Prism Cement plans new Karnataka project, India

02 February 2012, Published under Cement News

Prism Cement is planning to construct a new clinker plant in Gulbarga district, Karnataka, southwest India. The project is currently at the conceptual stage. Work on the facility is expected to commence in 2014 although a completion date is yet to be finalised.