Cement News tagged under: UltraTech Cement
Vikram Cement recognised with water management award10 October 2017, Published under Cement NewsUltraTech Cement Ltd (UTCL) has been recognised at the Confederation of Indian Industry's (CII) National Awards for Excellence in Water Management 2017. Vikram Cement Works, an integrated cement manufacturing unit of UTCL, won the Confederation of Indian Industry's (CII) National Awards for Excellence in Water Management 2017 in the ‘outside the fence’ category. This award is a recognition for the ‘Sustainable Livelihood through Watershed Management’s corporate social responsibility (CSR) ... |
UltraTech to build Madhya Pradesh plant20 July 2017, Published under Cement NewsIndian cement major UltraTech plans to establish an integrated cement plant in Madhya Pradesh with a capacity of 3.5Mta. "The board has approved a greenfield integrated cement plant at Dhar in Madhya Pradesh with a capacity of 3.5Mta. The plant will involve an investment of INR2600 crore [US$403m] and is likely to being commercial production by the fourth quarter of FY19," UltraTech chairman, Kumar Mangalam Birla, said during the company's 17th annual general meeting. The new plant will... |
UltraTech sees profit growth in 1QFY1819 July 2017, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla Group Company, yesterday announced its unaudited financial results for the quarter ended 30 June, 2017. The results include those of the cement plants of Jaiprakash Associates Ltd (JAL) and Jaypee Cement Corporation Ltd (JCCL) acquired in terms of a Scheme of Arrangement effective 29 June 2017. Net sales for the period stood at INR69.38bn as compared to INR65.35bn in the corresponding period of the previous year. Profit before interest, depreciation an... |
UltraTech reduces prices05 July 2017, Published under Cement NewsUltraTech Cement has reduced prices of its products by 2-3 per cent, extending benefits of a tax reduction under the countrys Goods and Service Tax (GST) regime, local press report. The company has started the supply of batches from its warehouses on new rates effective 1 July , when the new tax structure came into force. Cement has been taxed at 28 per cent under the GST as compared to 30-31 per cent in the previous taxation system. The reduction in prices would vary from state to st... |
UltraTech's purchase of Jaiprakash assets reportedly nears completion22 May 2017, Published under Cement NewsUltraTech Cement cquisition of the cement business of Jaiprakash Associates is expected to be completed in the next few months, a top group executive said in an interview with local media. “The Jaiprakash Associates acquisition is on track and should get done sooner than later,” group chief financial officer Sushil Agarwal said. In July last year, UltraTech agreed to acquire Jaiprakash Associates ’ cement plants, which have a total capacity of 21.2Mta, making it one of the largest de... |
UltraTech Cement commissions slag cement grinding works15 May 2017, Published under Cement NewsUltraTech Cement said it has commissioned a slag cement grinding works at Patliputra in Bihar, India. "The company has commissioned a 0.3Mta slag cement manufacturing capacity at its existing facilities at Patliputra in Bihar," UltraTech Cement said in a filing to the Bombay Stock Exchange. "This will bolster our capabilities to meet the growing demand for slag cement from the markets of eastern India," it added. With the commissioning of this manufacturing capacity, the company's cemen... |
UltraTech Cement FY17 sales edge ahead25 April 2017, Published under Cement NewsUltraTech Cement, an Aditya Birla group company, yesterday reported consolidated sales for FY17 of INR250.92bn (US$3.89bn) against INR248.8bn in the previous year. Profit before interest, depreciation and tax of INR58.61bn was nine per cent higher and profit after tax up 10 per cent YoY to INR27.15bn. Domestic grey cement sales was 47.62Mt, virtually flat on the 47.13Mt recorded a year earlier. For the final quarter of FY17, volumes reached 13.35Mt compared to 13.32Mt in the same quarter... |
Indian Railways to cut fees to win back cement business13 April 2017, Published under Cement NewsIn response to cement producers shifting away from transporting their output by rail, Indian Railways has announced that it plans to reduces charges for firms that can guarantee that at least a specified volume of freight goes by rail, Mint reports. In January 2017 Indian Railways carried around 6Mt of cement, down 15 per cent YoY. Higher freight charges have been blamed for the decline, with producers shifting transport onto the roads as a result. To combat this, the Ministry of Railw... |
After the monsoons01 March 2017, Published under Cement NewsWhile the demonetisation of the Indian economy has seen cement sales significantly drop, the country’s cement producers are waiting for the positive medium-term effects of good monsoons to kickstart an acceleration in demand growth. Ambuja Cement saw a 6.6 per cent YoY drop in Jul-Sep sales in 2016 Uncertainty has once again eclipsed the growth of India’s 420Mta cement sector. Good monsoon rains with uniform spread across India in the July-September period have taken a toll on c... |
UltraTech Q3FY17 reports post-tax profit up 5%23 January 2017, Published under Cement NewsUltraTech Cement reported a 4.7 per cent rise in consolidated net profit at INR59.39bn (US$871.6m) for the quarter ended 31 December 2016 due to lower expenses. In 3Q15 company, owned by Aditya Birla Group, recorded net profits of INR56.67bn. Consolidated total income from operations fell to 67.61bn from INR68.65bn in the same period. Profit before interest, depreciation and tax was INR12.80bn as compared to INR12.74bn in the same period of the previous year. Profit After Tax (PAT) wa... |