Cement News tagged under: Ramco Cements

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Ramco Cements posts 40% increase in net profit

04 November 2020, Published under Cement News

India’s Ramco Cements has reported a 40 per cent YoY increase in net profit to INR2.36bn (US$31.69m) for the second quarter of the FY20-21. However, revenue was down 4.6 per cent to INR12.65bn from INR13.26bn in the corresponding period of the previous fiscal. EBITDA surged 48 per cent YoY to INR4.5bn from INR3.04bn, on the back of improved margins. During the quarter, the stability in cement prices, improved sale of its flagship products and premium products in the trade segment played ou...

Ramco Cements inaugurates new grinding unit

09 October 2020, Published under Cement News

India’s Ramco Cements has commissioned its new 0.9Mta grinding unit in Odisha. The plant represents an investment of INR7.1bn (US$97m). The company had been marketing around 1Mt of cement each year in Odisha, with the product being delivered from its manufacturing facilities in Andhra Pradesh. The unit uses German machinery and is equipped with energy-efficient motors and automatic packing machines capable of continuous operation and dispatch, according to the New Indian Express.

Ramco Cements installs new 9MW WHR unit

14 September 2020, Published under Cement News

India’s Ramco Cements has commissioned a 9MW waste heat recovery unit at its Jayanthipuram cement plant in Andhra Pradesh. Two more 9MW waste heat recovery systems are being installed at Jayanthipuram and are expected be commissioned in the coming months. "The installation of waste heat recovery systems in our plants will help us reduce the power cost. Besides savings in power cost, it also reduces CO 2 emission substantially, which will have a positive impact on the environment," said A...

Ramco Cements aims to be debt-free in three years

14 August 2020, Published under Cement News

India’s Ramco Cements has announced plans to become debt-free in three years, while noting that FY20-21 will be a challenging year for the company. "While the initial few months were impacted by COVID-19 related lockdown, the remaining months would see slower pick up as majority of Government spending gets channelised towards healthcare and supporting weaker sections of society," said A V Dharmakrishnan, CEO. "Our priorities will be to efficiently market products and to become a debt-free ...

Ramco Cements posts 18% profit increase in FY19-20

22 June 2020, Published under Cement News

India’s Ramco Cements recorded a 13.2 per cent YoY decline in consolidated net profit to INR1.43bn (US$18.8m) during the 4QFY19-20, compared with INR1.65bn in the year-ago period. Consolidated revenue also fell 9.2 per cent YoY to INR14.04bn from INR15.46bn. However, the company posted an 18.4 per cent rise in net profit to INR6.02bn for the full FY19-20 period, against INR5.11bn in the previous fiscal. Revenue advanced 4.5 per cent YoY to INR54.23bn from Rs51.87bn. In FY19-20, cement ...

Indian lockdown leaves plant staff stranded

31 March 2020, Published under Cement News

Following the Indian lockdown as a response to the COVID-19 outbreak, Ramco Cements has stopped production at its plant in Haridaspur, Jajpur. However, around 400 workers from other states such as Jharkhand, West Bengal and Bihar allegedly remain stranded inside the factory, according to The Pioneer. The issue has now been raised with company management and the appropriate District Collector.

Ramco Cements records 5% revenue rise

31 January 2020, Published under Cement News

India’s Ramco Cements saw a 6.3 per cent YoY decline in standalone net profit for the quarter ending 31 December 2019, falling to INR950m (US$13.28m) from INR1.01bn. However, revenue increased 5.3 per cent YoY to INR12.86bn, while EBITDA also advanced 4.7 per cent to INR2.21bn. "During the current quarter, the company witnessed sluggish demand in its core markets coupled with pressure on prices due to active monsoon. Demand in eastern markets was more visible during the current quarter, bu...

Ramco Cements expects price hike in Indian states

30 August 2019, Published under Cement News

India's Ramco Cements Ltd has stated that a cement price hike in Telugu states is imperative as prices are unviable for manufacturers. "Companies have to increase cement prices as current prices are unviable. There is no other way. Cement prices in Hyderabad range from INR220-270/bag (US$3-3.77/bag). Rates are similar in Andhra Pradesh, though we get INR10-15 more in Visakhapatnam and Rayalaseema regions," said R Ramakrishnan, president of marketing at Ramco Cements, in an interview with ...

Ramco Cements to invest INR35bn in expansion programme

31 May 2019, Published under Cement News

India’s Ramco Cements has confirmed plans to invest INR35bn (US$501m) to expand its production capacity from 12Mt to 20Mt by 2020, following the conclusion of the country’s general election. "The uncertainty has ended and stability is back at the centre," said P R Venketrama Raja, chairman and managing director, Ramco Cements. "We expect the new government to focus on major infrastructure projects that will spur growth in the cement sector." The company has already invested INR12bn in upco...

Ramco Cements sees 50% advance in net profit

23 May 2019, Published under Cement News

India’s Ramco Cements has reported a 50 per cent YoY increase in net profit to INR1.65bn (US$23.68m) for the 4QFY18-19, while revenue advanced 21 per cent to INR15.43bn. For the full fiscal year, revenue was up 12 per cent YoY at INR51.87bn. However, fluctuating cement prices and increasing fuel prices meant the company saw a nine per cent fall in profits to INR5.07bn. The company’s performance in the FY18-19 was boosted by a 19 per cent rise in cement sales to 11.12Mt, compared to 9.3Mt...