Cement News tagged under: Ramco Cements
Ramco Cements to invest INR35bn in expansion programme31 May 2019, Published under Cement NewsIndia’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 profit23 May 2019, Published under Cement NewsIndia’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... |
Ramco Cements records 15% revenue increase30 January 2019, Published under Cement NewsIndia’s Ramco Cements Ltd has announced an 18 per cent fall in net profit to INR1.01bn (US$14.18m) for the quarter ending 31 December 2018, compared with INR1.23bn recorded in the year-ago period. Meanwhile, the company’s revenue increased 15 per cent to INR12.17bn on the back of higher cement sales in the domestic market, which rose 19.9 per cent YoY to 2.689Mt. In the 9MFY18-19, net profit declined 23.7 per cent YoY to INR3.41bn from INR4.47bn. However, revenue was up 14.6 per cent to I... |
Ramco Cements to build a 3.15Mta plant in Andhra Pradesh17 December 2018, Published under Cement NewsIndia’s Ramco Cements has laid the foundation stone for a new 3.15Mta greenfield cement plant at Kalavatala, Kolimigundla Mandal, Andhra Pradesh. The environmental clearance has been received for the INR15bn (US$209.3m) project and the required mining lease is in place. Alongside the facility, the project will see the construction of a waste heat recovery system, thermal power plant and a 25km railway line from Sanjamala station. The plant is expected to be completed within 15 months of ... |
Ramco Cements to spend INR8.5bn on plant expansion27 November 2018, Published under Cement NewsIndia’s Ramco Cements is investing INR8.5bn (US$120m) to increase capacity at its facility in Jayanthipuram, Andhra Pradesh, by 1.5Mta and construct a 27MW WHR system. The project is part of an overall expansion plan for the company. "Currently, we have cement grinding capacity of 16.5Mta, which we plan to take to 20Mta by March 2020," said A V Dharmakrishnan, CEO of Ramco Cements. The plan would see its Kolaghat, Visakhapatnam and Odisha grinding units each expanded by nearly 1Mta, accord... |
Ramco Cements reports 11% revenue increase in FY1824 May 2018, Published under Cement NewsRamco Cements Ltd has announced an 11 per cent YoY increase in revenue for FY18, rising to INR44.43bn (US$649.71m) from INR39.93bn of the previous year. However, its stand-alone profit after tax fell 14 per cent to INR5.56bn (FY17: INR6.49bn). In the same period, the company reported an 11.5 per cent rise in cement sales to 9.31Mt. Upcoming projects Ramco Cements also noted that its upcoming capacity expansion projects will all be commissioned in the 2019-20 period. This includes the thir... |
Long-term rail freight rates secured for Ramco and Zuari27 April 2018, Published under Cement NewsIndia’s South Central Railway (SCR) has signed a long-term tariff contract with Ramco Cements Ltd and Zuari Cements Ltd to transport freight traffic at fixed rates, according to The Hindu. Ramco and Zuari signed the agreement to ensure fixed tariff costs for three and five years, respectively. The scheme has been designed to offer customers stability and the capacity to plan logistics for a longer period. Similar agreements have already been signed with UltraTech Cements, India Cement... |
Slow Tamil Nadu sales affect Ramco 3Q net profit07 February 2018, Published under Cement NewsRamco Cements has seen its 3QFY17-18 net profit dragged down on the back of lacklustre demand in its core market of Tamil Nadu, India. Net profit fell to INR1.227bn from INR1.519bn in the quarter ended 31 December 2016, according to The Hindu newspaper. Revenues edged up from INR9.647bn to INR10.615bn over the period. The company’s CEO, AV Dharmakrishnan, said with demand soft in Tamil Nadu, Ramco has had to look increasingly further afield for sales and he reported the eastern region is ... |
Ramco reports 2Q17 net profit of US$26m03 November 2017, Published under Cement NewsRamco Cements has reported a drop in net profit during the 2Q17-18, due to tough local market conditions in Tamil Nadu and increasing operating costs driven by increasing power, fuel and transportation costs. The company reported a net profit of INR168.520 (US$26m) on a total revenue of INR10.73bn. Transportation and handling costs increased to INR2107m. Power and fuel costs increased to INR1725.4m while finance costs were down at INR172.7m. During the quarter, the company sold 2.15Mt, inc... |
Petron receives new order from Ramco14 August 2017, Published under Cement NewsPetron Engineering Construction Ltd has received work order for civil and mechanical works from India-based Ramco Cements Ltd for its Line-II grinding unit project at Kolghat in West Bengal. The order is worth an approximate value of INR620m (US$9.7m). |