Cement News tagged under: Ramco Cements

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Ramco Cements' profits hit by rising production costs

10 November 2022, Published under Cement News

Ramco Cements Ltd has reported unaudited standalone revenue of INR17,932m (US$220m) in the quarter ended 30 September 2022. This compares with INR17,793m in the previous quarter and INR15,010m in the same quarter a year earlier. Net profit in the September 2022 quarter came in at INR114.7m, down from INR1122.7m in the previous year and significantly lower than the INR5170.8m reported in the September 2021 quarter. Power and fuel costs have advanced from INR2862.5m in the September 2021 ...

Indian profits forecast to decline

14 October 2022, Published under Cement News

India’s cement producers are expected to report a decline in profits for the July-September 2022 quarter, according to Mumbai-based brokerage house KR Choksey. The brokerage predicts poor results in the short-term as the industry sees a wave of consolidation taking place, along with huge capital expenditure plans announced by the industry’s leading players. KR Choksey predicts a 19.2 per cent YoY fall in net profit for UltraTech in the 2QFY22-23 with the QoQ picture showing a 33 per ...

Ramco Cements commissions new 2.25Mta plant

30 September 2022, Published under Cement News

India’s The Ramco Cements Ltd has commissioned its fifth integrated cement plant at Kolumigundla, Kurnool District, Andhra Pradesh. The INR30,000m (US$366m) works has a clinker capacity of 2.25Mta and will serve the markets of Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra and Madhya Pradesh, according to The Hindu.  The plant has a 12.15MW waste heat recovery (WHR) system, 6MW of which will be commissioned in October 2022 with the remaining coming on stream in 2023. The project als...

Indian cement's fuel strategy alters

19 August 2022, Published under Cement News

While the Ukraine-Russian war rages on, the impact on fuel prices can clearly be seen across the globe. Indian cement manufacturers are having to reconsider their strategies for energy consumption and fuel sourcing. Changes in imports have already started to see Indian cement producers seek higher volumes of petcoke imports and cheaper trade routes for thermal coal. Much of the petcoke that Indian cement manufacturers have imported recently has come from Venezuela for the first time, accord...

Indian producers turn to Venezuela for petcoke supplies

17 August 2022, Published under Cement News

The surge in global coal prices has prompted Indian cement producers to turn to petcoke instead with the country importing significant volumes from Venezuela for the first time. According to Live Mint, trade data shows that India imported at least four shipments of 160,000t of petcoke from Venezuela, arriving in India between April-June 2022. A further 50,000t cargo is due to reach Mangalore, India, over the coming days and a 30,000t shipment is expected to depart Venezuela for India later t...

Margins squeezed for Indian cement producers

12 August 2022, Published under Cement News

India remains one the fastest-growing economies at 7.4 per cent GDP growth in 2022, according to the IMF. Cement demand has also risen and is forecast to rise by 7-8 per cent in the FY22-23 to around 388Mt, says ICRA Corporate Ratings. This would seem positive for investment in the Indian cement sector, but cement producers have been announcing tighter margins, and raw material and energy costs are expected to further impact margins going forward. Reporting on operating margins for ceme...

Ramco Cements reports rise in revenue in 2021-22

20 July 2022, Published under Cement News

The Ramco Cements Ltd has reported revenue of INR60.1bn (US$752.3m) in the FY21-22, compared to INR53.03bn in FY20-21. Net profit over the same period has advanced from INR7.61bn to INR8.93bn, while EBITDA has fallen from INR15.82bn to INR13.14bn. In terms of costs, power and fuel accounted for the greatest share in the FY20-22 at 23 per cent, up from 15 per cent in the FY20-21. All other costs remained stable with freight and forwarding expenses accounting for 20 per cent in the FY21-22, ...

Ramco Cements announces capex and price rise

09 June 2022, Published under Cement News

Ramco Cements has announced capex of INR12-13bn (US$154-167m) to expand its production capacity over the next two years. At its Kurnool plant, trial production of clinker is now underway and with this, clinker capacity has expanded to 13.65Mta. The cement grinding facility, 6MW waste heat recovery system (WHRS), and an 18MW thermal power plant (TPP) are due to be commissioned during 2QFY23, according to the Financial Express. An additional 1-1.5Mta of grinding capacity is also planned in K...

Ramco Cements to commission Kurnool clinker plant in February

26 January 2022, Published under Cement News

Ramco Cements Ltd is expected to bring online its 2.25Mta clinker plant in Kurnool, India, in February. The 1Mta cement grinding unit, 12MW waste heat recovery system and 18MW thermal power plant are scheduled to be commissioned in FY2022-23. Its RR Nagar plant project, which will see a new energy-efficient 3000tpd kiln, is likely to be commissioned in FY2023-24. The modernisation project represents and investment of INR4.76bn (US$63.6m).

Ramco Cements sees 59% fall in 3Q net profit

25 January 2022, Published under Cement News

India-based Ramco Cements Ltd reported a 59 per cent decrease in standalone profit after tax at INR830m for the quarter ended 31 December 2021 (3QFY21-22). In the 3QFY20-21 standalone profit after tax was INR2.01bn. Net revenues for the 3QFY21-22 expanded 16 per cent YoY to INR15.56bn from INR13.45bn in the 3QFY20-21, as cement sales volumes increased 15 per cent to 3.01Mt from 2.61Mt in the year-ago period. But the company said demand was weak due to a range of factors such as the monsoo...