Cement News tagged under: UltraTech Cement

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UltraTech profits rise 10% in 1Q16, operational costs cut

26 April 2016, Published under Cement News

UltraTech Cement, India reported a 10 per cent YoY rise in consolidated profit after tax for the quarter ended March. The company reported a consolidated net profit of INR7230m (US$108.52m) against 6750m (US$98.63m) in the same period last year, due to a strong operational performance. Net sales in the same period rose 5 per cent to INR68.5bn, from INR65.17bn a year earlier. Total cement demand for the quarter, the company said, grew by 15 per cent.  "The operating costs reduced with oper...

India: Jaypee reduces northern cement supply

22 April 2016, Published under Cement News

Debt-laden Jaiprakash Associates Ltd has withdrawn itself from some of its cement markets in north India as part of streamlining its operations even as lenders continue to prod the firm to shed assets and pare debt, reports Mint. The company has drastically cut its cement supply to markets in the north, said two Delhi-based cement dealers. A spokesperson for the parent Jaypee Group confirmed that the company has chosen to withdraw from certain markets of Haryana and Delhi. "The com...

UltraTech is in a better position to control India's cement market

08 April 2016, Published under Cement News

UltraTech Cement has undertaken series of acquisitions and organic expansions over the past year. This will help the country's largest cement manufacturer in enhancing market share, getting greater control on setting prices and achieving higher sales and volumes growth, claims the Economic Times-Bangalore. UltraTech's capacity has increased to 92.3Mta from 63.2Mta in FY15. This includes the recent acquisition of 22.4Mta of cement capacity from JP Associates including access to the 40 year...

India: cement prices to hold up thanks to merger deals

06 April 2016, Published under Cement News

India's stock researcher Livemint is forecasting that mergers like that between JP Associates Ltd and UltraTech Cement Ltd and also Birla Corp Ltd and Reliance Infrastructure Ltd will rationalise ownership to support cement prices. Meanwhile, with government projects gaining traction in areas like state metros, highways, low-cost housing and dedicated freight corridors, besides irrigation and water supply, demand and consequently cement dispatches are likely to improve from the fourth quar...

India: UltraTech confirms US$2.4bn purchase of Jaypee assets

01 April 2016, Published under Cement News

UltraTech Cement has reached a definitive agreement in its deal to buy 21.2Mta of production capacity from Jaiprakash Associates (JAL) at a cost of INR159bn (US$2.4bn).  India's Telegraph newspaper reports that UltratTech will acquire existing plants with a capacity of 17.2Mta as well as a 4Mta grinding unit currently under construction.  Originally, the sale was to include Jaypee’s 1.2Mta Shahabad plant, but this will now be retained by JAL, which will still have 10.6Mta of production...

India: UltraTech purchase of 22.4Mta capacity set to be announced

31 March 2016, Published under Cement News

UltraTech Cement, already India's largest cement producer, is expected to confirm its purchase of Jaiprakash Associates' cement business. A report by CNBC-TV18 states that the deal will be officially announced on 31 March. UltraTech will acquire cement plants with a capacity of 22.4Mta for INR170bn (US$2.56bn). UltraTech has been seeking to purchase assets from Jaiprakash Associates for some time. In December 2015 a deal for the Bela and Sidhi plants was suspended because a new law pre...

UltraTech Cement signs binding MoU for Jaiprakash Associates cement units

29 February 2016, Published under Cement News

India's UltraTech Cement Ltd said on Sunday it had entered a binding memorandum of understanding to acquire Jaiprakash Associates Ltd's cement plants for INR165bn (US$2.457bn). The assets have a total cement capacity of 22.4Mta, including 4Mta under implementation, and are situated in the states of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Andhra Pradesh and Karnataka. “The assets will give the company access to the newer markets of Satna, Uttar Pradesh East, Himachal P...

UltraTech 3Q revenues rise 5%

20 January 2016, Published under Cement News

Indian cement major UltraTech Cement reported five per cent revenue growth for the 3QFY15-16, driven by seven per cent volume growth while the cement pricing environment remained subdued.   During the September-December 2015 period, consolidated net sales increased to INR61.08bn (US$898m) versus INR58.32bn in the corresponding period of the previous year. EBIT stood at INR12.45bn, up by 18 per cent YoY from INR10.58bn. Profit after tax soared by 36 per cent compared to last year (INR5.46bn...

Kenya: UltraTech in the race to buy stake in ARM?

13 January 2016, Published under Cement News

UltraTech Cement is said to be eyeing a controlling stake in ARM Cement of Kenya, a Nairobi-based newspaper reported.
 According to the report, the Indian cement producer UltraTech Cement is in the race to acquire a controlling stake in Nairobi Securities Exchange-listed ARM Cement, in which it could buy convertible preference shares of up to US$125m (KES12.7bn). ARM announced 23 December it is in talks with an unidentified institutional investor about a US$125m investment.

UltraTech Chhattisgarh mine plan hits hurdle

24 December 2015, Published under Cement News

The government of the central Indian state of Chhattisgarh has cancelled a no objection certificate (NoC) to UltraTech Cement for a limestone mine in Raipur district. The state government on Tuesday announced it would cancel the certificate required by the cement producer to commission the operation. The mine is interlinked with the company’s integrated cement plant, located in the neighbouring Balodabazar district. The department had granted the conditional NoC on 5 January 2009. The 17...