Cement News tagged under: Star Cement

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Star Cement receives approval for 0.6Mta Liberian project

12 August 2019, Published under Cement News

Star Cement has received approval from the Liberian government to construct a 0.6Mta plant in Monrovia at an estimated investment of US$41m. Following commissioning, the price of cement is expected to drop in the domestic market and assist a boom in the construction industry, according to a company press release. Operations are anticipated to begin within the next 12-18 months, at which time the company will begin the sale of shares. Elsewhere, Star Cement is reportedly trying to ensur...

Star Cement net profit falls 5% in 3QFY18-19

05 February 2019, Published under Cement News

Star Cement reported a stand-alone net profit of INR561.4m (US$7.7m) for the quarter ended 31 December 2018, a fall of 5.4 per cent when compared with INR593.6m reported in the year-ago period. Net revenue increased by 17.2 per cent YoY to INR4.018bn in October-December 2018 from INR3.427bn in 3QFY18-19. Operating expenses advanced 23.1 per cent to INR3.207bn YoY while other income rose by 88.2 per cent YoY to INR3.2m. Operating profit slipped by five per cent YoY to INR810.6m while th...

Star Cement announces plant expansion

08 January 2019, Published under Cement News

India’s Star Cement has announced a brownfield expansion at its grinding unit in Jalpaiguri district, West Bengal. Already the largest manufacturer in the northeast of the country, this project will expand the plant’s capacity from 1.6Mta to 2Mta. Once the company receives environmental clearance, work on the INR4.43bn (US$63.26m) plans is expected to begin by June 2019.

Star Cement records 45% rise in net profit

13 November 2018, Published under Cement News

India’s Star Cement Ltd has reported a 28.7 per cent YoY rise in net sales to INR3.62bn (US$49.98m) for the 2QFY18-19 ended 30 September, from INR2.81bn of the year-ago period. Net profit advanced 45.4 per cent to INR381.7m from INR262.6m. In the first six months of the FY18-19, net sales increased 20.2 per cent YoY to INR8.81bn. However, net profit fell 4.6 per cent to INR1.29bn, compared with INR1.35bn of the 1H17-18.

Fly ash transported through India's inland water highway

08 October 2018, Published under Cement News

As part of an ongoing project to establish a water highway route, the Inland Waterways Authority of India has successfully transported 1235t of fly ash from NTPC’s power facility in Bihar to Pandu, Assam. Following the completion of one of the country’s longest haulages in inland water transport, the material will be used by Star Cement.  "This endeavour will also establish the water highway route from Kahalgaon to Pandu in Assam via Bangladesh border helping transportation of other goods ...

Star Cement receives government subsidies to reduce debt

10 May 2018, Published under Cement News

Star Cement has received INR2bn (US$29.7m) towards a subsidies claim from the central government. The company intends to use the amount to further reduce its debt. Earlier in April company had received IN800m (US$11.8m) of subsidies and also used it for debt reduction. The total debt for the company following the payment of INR800m is expected at INR3200m, including long-term and short-term loans. The debt will further come down significantly as the company intends to utilise the entire am...

Star Cement records 10% rise in operating revenue

07 February 2018, Published under Cement News

Star Cement Ltd has released its results for the third quarter of FY17-18, showing a growth in operating revenue of 10.1 per cent YoY. Adjusted for excise duty, this translates to INR3.77bn (US$58.8m) against INR3.42bn of the 3QFY16-17, according to IIFL. EBITDA marked a considerable increase of 60.4 per cent to INR1.41bn in comparison with INR0.88bn of the previous fiscal. The EBITDA margin expanded by 1173bps YoY to 37.5 per cent. Elsewhere, Sagar Cements has reported a 47.21 per cent ri...

Star Cement sells 3% stake through open market transactions

19 January 2018, Published under Cement News

Star Cement has sold a 3.34 per cent stake in the company worth INR1.82bn (US$28.5m), according to Money Control. The sale was made through open market transactions by three promoters of the company. The shares were disposed at average price of INR130 each. SBI Mutual Fund also bought 15.3m shares, which translates to a 3.66 per cent stake of Star Cement. These shares were priced at INR129.9, making the total transaction worth INR1.99bn.

Star Cement announces 90% net profit increase

16 November 2017, Published under Cement News

Star Cement reported a standalone net profit of INR219.9m (US$3.37m) for the 2Q17 period ended 30 September 2017, a 89.9 per cent increase from the INR108m seen in the year-ago period. The revenue for the company fell to INR2.57bn from INR2.89bn in 2Q16. Star Cement reported EBITDA of INR530m for the second quarter of 2017, according to The Economic Times. The cost of expenses decreased to INR2.32bn from INR2.78bn of the corresponding quarter in 2016. In 1H17 the company saw a net profit...

Star Cement looking to increase capacity

05 September 2017, Published under Cement News

Star Cement is reportedly looking to expand its clinker and cement capacity in India by investing in greenfield and brownfield projects. The Century Plyboards (India) Ltd subsidiary is planning to set up 1.5-2Mta cement grinding unit at Siliguri in West Bengal and aims to double its clinker manufacturing capacity at Lumshnong in Meghalaya to 5Mta in the next three years, according to local press. While its greenfield cement grinding unit will entail an investment of INR200-300 crore, the e...