Cement News tagged under: india
The world in 2016 and outlook for 201710 February 2017, Published under Cement NewsThis year will be a challenging year for the multinational cement companies, which are now faced by uneven economic performance in the emerging markets, combined with a new era of global political uncertainty that could further destabilise markets. On balance, however, global growth looks set to be anchored by positive trends in the major markets of China, India and the US, more than offsetting the poor performance elsewhere. The large cement majors have spent years diversifying their por... |
India: Birla sees 8% drop in 3Q income09 February 2017, Published under Cement NewsBirla Corp reported a saw its net profit fall from INR139.9m (US$2.09m) in 3QFY15-16 to INR20.9m in 3QFY16-17. The company attributed the decrease to higher borrowing costs on account of the company’s acquisition of Reliance Cement Co and the reduction of treasury income as internal accruals were used to fund the purchase. Total income shrunk by 8.07 per cent to INR8489m in October-December 2016 from INR9234.7m in 3QFY15-16. Cement dispatches were down 11 per cent at 1.747Mt YoY. "... |
ACC appoints Neeraj Akhoury as MD and CEO08 February 2017, Published under Cement NewsNeeraj Akhoury took office on 7 February as new managing director and CEO of ACC. Mr AKhoury joins ACC from Lafarge Surma Cement, where he was CEO. "This is an exciting phase for the company and the cement industry as the government moves ahead with its agenda for transformative economic growth," he was quoted as saying. Mr Akhoury added he will focus on customer service, operating performance and cost competitiveness. |
India: Ramco Cements reports 28% rise in 3Q net profit08 February 2017, Published under Cement NewsIndia’s Ramco Cements has reported a 28 per cent YoY increase in net profit to INR1.519bn (US$22.6m) in 3Q16. The company attributes the rise to a reduction in operating costs and lower finance costs at a time when cement sales improved. The companies net revenues rose 17.6 per cent to INR9.647bn in 3Q16 when compared with the same quarter in the previous year. |
India: ACC reports 2.7% advance in net profit in 201607 February 2017, Published under Cement NewsThe Indian LafargeHolcim subsidiary ACC Ltd reported a 2.7 per cent reduction in cement deliveries for 2016 to 22.99Mt, while in the 4Q16 the reduction was 9.1 per cent to 5.45m, slightly less than the 9.6 per cent to 5.07Mt seen in the 3Q16. Ready-mixed concrete deliveries, however, rose by 10.7 per cent to 2.59Mt. Volumes are expected to show increases during 2017. The turnover declined by 4.3 per cent to INR109.46bn (US$1.62bn) while EBITDA came off by 7.5 per cent to INR14.21bn. The... |
Pakistan: exports to Afghanistan decline07 February 2017, Published under Cement NewsAPCMA data revealed that domestic dispatches in January 2017 were 2.722Mt, while exports amounted to 0.376Mt, reflecting YoY growth of 0.78 and -2.71 per cent, respectively. Total cement dispatches in January 2017 amounted to 3.087Mt. According to data released by the APCMA, during the first seven months of current fiscal year, the cement industry posted a growth of 9.52 per cent in local dispatches compared with the same period of last fiscal year. Export dispatches in the same pe... |
India: Dalmia Bharat and Shree Cement to battle for Binani Industries07 February 2017, Published under Cement NewsDalmia Bharat and Shree Cement are among at least three companies that have expressed interest in buying Binani Industries’ subsidiary Binani Cement's 6.25Mta cement manufacturing capacity in India, according to Moneycontrol. "Dalmia Bharat and Shree Cement are interested. There's one MNC [multinational cement company] as well that has a large presence in India which is interested in buying," an official familiar with the development said. Both Dalmia Bharat and Shree Cement have used... |
India: residents protest about Dawar Cement's NOC07 February 2017, Published under Cement NewsResidents of Khrew in South Kashmir’s Pulwama district staged a protest on Monday in Srinagar, alleging that Dawar Cements has secured No Objection Certificate (NOC) for limestone mining without public support. A large number of people gathered under the banner of local Auqaf Committee assembled in Srinagar to express their opposition. Carrying placards and banners, the protesters claimed that Dawar Cements has misled authorities and has secured NOC for limestone mining with a capacity of 5... |
India: Orient Cement reports loss of US$166.9m for 3Q ended 31 Dec06 February 2017, Published under Cement NewsCK Birla group firm Orient Cement today reported narrowing of its net loss on standalone basis to INR11,210m (US$166.9m) for the third quarter ended on 31 December 2016. It had reported a net loss of INR12,910m in the year-ago period, Orient Cement said in a BSE filing. The firm's total income jumped 33.7 per cent to INR529,260m during the quarter under review from INR395,850m last fiscal. Orient Cement's total expenses saw a rise of 29.87 at INR514,370m as against INR396,050m in the... |
India: five cement producers to appeal the CCI order06 February 2017, Published under Cement NewsFive of the seven cement companies which were fined by the Competition Commission of India (CCI) in January, for alleged bid rigging of a 2012 tender put out by the Haryana government, will appeal to the Competition Appellate Tribunal. Shree Cement, JK Cement, Ambuja Cements, ACC Ltd and JK Lakshmi Cement will contest the CCI order as they are of the view that they have a ‘good case for succeeding in the appeal.’ Other companies such as UltraTech Cement and Jaiprakash Associates are curren... |