Cement News tagged under: india
Ambuja Cement adds 0.9Mta to Sankrail grinding unit25 May 2016, Published under Cement NewsIndia’s Ambuja Cement has added 0.9Mta of capacity to its Sankrail grinding unit near Kolkata. The INR3.38bn (US$50.2m) project was commissioned on 24 May 2016. As a result of the expansion, the plant’s current capacity now stands at 2.4Mta. The project included installation of 140tph Thyssenkrupp roller press, increasing the capacity of Cement Mill 1 to 235tph in combo grinding and two additional 240tph packers. Speaking on the occasion, Ajay Kapur, MD CEO Ambuja Cements said, "I am... |
India: Prism Cement 4QFY16 profits fall 95% YoY25 May 2016, Published under Cement NewsPrism Cement’s net profits for the quarter to 31 March 2016 fell to just INR30m (US$445,000), down 95.2 per cent YoY, reports India Infoline. Net revenues at the company rose by 4.1 per cent YoY to INR15.9bn (US$236m), while profit margins were estimated at 6.3 per cent. Indian producers have struggled over the past year as low prices have hit profits even as volume sales have risen. |
India: petition fails to stop Birla Corp and Reliance deal20 May 2016, Published under Cement NewsCalcutta High Court justice Jyotirmoy Bhattacharya on Thursday dismissed petitions filed by a Birla faction seeking injunction in Birla Corporation's (Birla Corp) plan to buy Reliance Infrastructure's cement business for an enterprise value of INR4.8bn (US$711m). The Birlas sought an order to postpone the high profile cement deal entered between MP Birla Group's Birla Corporation and Anil Ambani-owned Reliance Infrastructure. Birla Corporation had on 4 February 2016 entered into an agreem... |
India: Ramco 4Q16 results20 May 2016, Published under Cement NewsRamco Cements has announced a more than two-fold increase in its net profit to INR2bn (US$30m) for the its fourth quarter ended 31 March 2016, compared to INR934m (US$13.8m) for the same quarter in the previous year. The company’s total income increased by 1.85 per cent to INR10.1bn (US$150.7m) compared to INR9.9bn (US$148m) for the quarter ended 21 March 2015. The company also reported a two-fold increase in net profit for the year ended 31 March 2016, at INR5.5bn (US$82.6m) compared to ... |
India: Positive outlook for growth, but challenges remain20 May 2016, Published under Cement NewsCement consumption in India doubled between 2005 and 2015, but still lags behind China’s at a comparable stage of development. In 2001, the World Bank calculations put China’s GDP per capita at US$1212 in inflation-adjusted terms. Using the same methodology, India’s current GDP per capita is slightly higher than China’s was then: in 2014, India’s GDP per capita reached US$1234. Do these figures suggest that India is a decade or so away from exercising the same sort of economic muscle that... |
India: JK Lakshmi Cement 4Q net profit soars19 May 2016, Published under Cement NewsJK Lakshmi Cement’s net profit soared in the quarter ended 31 March 2016 from INR60.5m (US$ 0.90m) to INR483.8m YoY. Total 4Q revenues of the company jumped 27 per cent from INR5.782bn in FY14-15 to INR7.351bn. The commissioning of the Durg plant in March 2015 helped production increase by 42 per cent in the quarter. "Company's steep growth in production and sales along with its relentless efforts to improve efficiency and cutting operation cost has enabled the firm to post profitabil... |
India: Adilabad cement plant could reopen13 May 2016, Published under Cement NewsA closed cement factory at Adilabad will be the discussion of a possible reopening as Union Heavy Industry Minister Anant Geete is set to hold a meeting with officials of the Telangana government and the Cement Corporation of India (CCI). The meeting is expected be held in June at Hyderabad or New Delhi as per the assurance given by the Minister on Thursday to a team comprising the Telangana State Forest and Housing Ministers, Jogu Ramanna and A Indrakaran Reddy, Adilabad MP G Nagesh, and ... |
LafargeHolcim: cement volumes up 1.4% but revenues flat12 May 2016, Published under Cement NewsIn its results for 1Q16, LafargeHolcim announced that cement volume sales rose by 1.4 per cent YoY with the Asia-Pacific region accounting for most of the improvement. Like-for-like revenues were almost unchanged on 1Q15, rising by just 0.1 per cent to stand at CHF6.062bn (US$6.244bn). In the earnings statement, LarfargeHolcim cited “challenging” conditions in Nigeria, Brazil and India as the reason for slow growth. The company also noted that the first quarter typically saw less activity... |
India: ECO Cement to produce for Prism Cement11 May 2016, Published under Cement NewsCogencis EquityWire reports that ECO Cement (ECL) and Prism Cement have reached an agreement whereby the former will manufacture and supply cement to the latter. "The arrangement with ECL is expected to help the company optimise its logistic costs as well as improve local availability in its strategic markets of Bihar," Prism Cement said. ECL operates a cement-grinding plant with a capacity of 0.6Mta in Bihar's Bhabhua district. |
India: Sagar Cements ordered to stop mining in Sulthanpur forest10 May 2016, Published under Cement NewsSagar Cements have been ordered by the National Green Tribunal (NGT) to cease mining activity in Sulthanpur forest in Telangana following a complaint that the company was encroaching on forest land. According to reports in the Hindu, Sagar have been accused of illegally mining in the forest reserve. The Director of Mines and Geology has asked the firm to cease activity in the reserve area. The NGT has asked the director to submit an action taken report during the next hearing slated fo... |