Cement News tagged under: Shree Cement

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Shree Cement reports 67% profit drop

17 October 2022, Published under Cement News

Shree Cement Ltd has reported standalone revenue of INR37,810m (US$458.8m) in the quarter ended 30 September, 2022. This compares to INR32,058m in the same period a year earlier, representing an 18 per cent YoY increase. However, net profit over the same period fell by 67 per cent from INR5777m to INR1896m. Total expenses in the September 2022 quarter came in at INR36,882m, notably up from the INR26,137m reported in the same period a year ago. Much of this advance was due to power and f...

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 ...

Shree Cement adds 7MW solar power plant to Panipat factory

26 September 2022, Published under Cement News

Gensol Engineering has commissioned a 6.7MWp solar project for Shree Cement Ltd at its Panipat Cement plant, Haryana. The solar power plant is estimated to save approximately 9192tpa equivalent of CO 2 emissions. 

Indian cement prices forecast to rise

12 September 2022, Published under Cement News

Cement companies in eastern India are expected to raise their cement prices in mid-September, according to the Financial Express. Other regions across the country are forecast to follow suit in early October as the monsoon season comes to an end and construction activity resumes. Cement producers have already increased prices by INR15-20/bag (US$018-0.25/bag), an uptick of 4-4.5 per cent MoM, in eastern and western India in the early part of September, but a further rise of INR15/bag is pred...

Adani Enterprises replaces Shree Cement in Nifty50 on NSE

02 September 2022, Published under Cement News

Adani Enterprises is to be included in the headline index Nifty50 on the National Stock Exchange of India (NSE) from 30 September 2022, replacing Shree Cement . According to The Economic Times, shares in Adani Enterprises have rallied over 88 per cent so far this year, taking its market capitalisation to INR3680bn (US$46,127m). After Adani Ports, this is the second stock from Gautam Adani to be included in the Nifty. Meanwhile, shares in Shree Cement have fallen by almost 21 per cent s...

thyssenkrupp wins pyroprocessing orders in India

09 August 2022, Published under Cement News

thyssenKrupp Industrial Solutions India have been awarded contracts by Shree Cement and Hills Cement . The orders comprise the planning, engineering and supply of pyroprocessing plants, each including a Polytrack ® clinker cooler. Balasubramanian VN, director of thyssenkrupp Industries India's cement division, said: "The fact that Shree Cement and Hills Cement are working with us for the first time is of great strategic importance to us. We thank the management of both companies for...

Shree Cement targets improved distribution

07 July 2022, Published under Cement News

Shree Cement , India's country’s third-largest cement group, plans to increase its share in its existing markets by offering varied products based on requirements of different customers and improving distribution as a short-term goal.  “We are envisioning an increase in installed capacity to 80Mta by 2030, exploring new geographies through both the organic and inorganic routes,” Prashant Bangur, joint managing director, Shree Cement, told shareholders in the company’s annual report for F...

Perfect planning for Shree Cement's new Raipur clinker line

27 May 2022, Published under Cement News

Achieving its first clinker production in March 2022 , Shree Cement  says its new 9000tpd Line 3 at  Raipur  cement plant, India, was successful because it portrayed a perfect harmony in project planning. "It showed the commitment of Shree Cement and FLSmidth teams, combined with FLSmidth's technologies and process expertise," said Shree Cement. Prashant Bangur, joint MD of Shree Cement, adds, " It was an extraordinary teamwork between FLSmidth and Shree Cement to commission a large pr...

Shree Cement sees 4% increase in revenue in 1Q22

24 May 2022, Published under Cement News

Shree Cement has reported a 3.9 per cent YoY uptick in revenue to INR40.99bn (US$527.8m) in the opening quarter of 2022. Sales volumes over the same period slipped two per cent to 8Mt, while EBITDA declined to INR10.49bn, compared to INR13.04bn in the 1Q21. The EBITDA margin contracted from 31.97 per cent in the 1Q21 to 24.75 per cent this year.   According to BusinessLine Online, the growth in revenue is being attributed to price increases as cost pressures and inflation continue to ha...

Shree Cement starts commercial production at Baloda Bazar

29 March 2022, Published under Cement News

Shree Cement has started commercial production at company's Kiln No 3 clinkerisation unit at Baloda Bazar , near Raipur in Chhattisgarh, India. The facility has a clinker capacity of 12,000tpd (4Mta). Earlier on 16 March, the company announced that it commenced trial run of its new clinker unit. The plant augment company's clinker supply to its various grinding units in eastern region.