Cement News tagged under: india
Cherat Cement earns INR1.22bn22 August 2013, Published under Cement NewsThere were mixed reactions to Cherat Cement's FY13 results. JS Global said it was below expectations, while analysts at AHL Research thought the earnings were "respectable". Cherat Cement Company reported profit after tax (PAT) for the financial year ended 30 June 2013 at INR1.22bn (US$0.18bn) translating into earning per share (eps) at INR12.80. It represented growth of 180 per cent YoY over PAT at INR0.44m and eps at INR4.57. The Board also declared cash dividend at INR1.50 per share, ta... |
Cement makers hit by infrastructure slump in emerging markets20 August 2013, Published under Cement NewsCement producers have been sliding on the financial stock exchanges as emerging market bonds and equities tumble, according to the Financial Times. Many of the region’s building materials groups have invested heavily in the emerging markets and fears that falling foreign investment will negatively impact state spending on large projects has underpinned stock market losses. Swiss major Holcim last week warned that slowing infrastructure spending in India – its biggest market – would dampen p... |
Cost cuts help Holcim 2Q net profit edge ahead15 August 2013, Published under Cement NewsHolcim has reported a slight increase in 2Q net profit as cost cuts helped boost profitability but weaker demand in India, Canada and Mexico fell short of expectations. Net income edged up to CHF383m (US$411m) from CHF377m a year earlier. Revenue fell 3.3 per cent to CHF5.33bn in the three months through June as Ambuja Cements Ltd, its Indian subsidiary, struggled with an early monsoon season and weaker-than-expected economic growth in the country. Last month, Holcim restructured it... |
India Cements reports fifth consecutive quarterly drop in net profit14 August 2013, Published under Cement NewsIndia Cement has reported its fifth consecutive quarterly drop due to forex losses and a lower pricing environment. Net profit for the first quarter of the current fiscal declined by 72 per cent to INR16.82 crore. N Srinivasan, vice chairman and managing director, India Cements Ltd said: “The exchange translation charges due to unprecedented rupee depreciation impacted to the tune of INR27 crore resulting in net profit before tax of INR26 crore.” The company also saw a drop in prices duri... |
Bids for Cement Corp of India units invited13 August 2013, Published under Cement NewsSBI Capital Markets has invited global bids to sell state-run Cement Corp of India Ltd's four non-operating units through an e-auction process. The company has put its 400,000tpa works in Akaltara (state of Chhattisgarh), and 198,000tpa plant at Kurkunta, (Karnataka), up for sale at a reserve price of INR1.83bn and INR2.6bn, respectively. Its 380,000tpa Mandhar unit in Chhattisgarh and 400,000tpa Nayagaon unit in Madhya Pradesh have also been put up for sale, according to an a... |
Dalmia in advanced stage of new plant commissioning, India13 August 2013, Published under Cement NewsDalmia Cement is in advanced stages of commissioning its new cement plant at in north Karnataka, as the company plans to lift capacity to 19Mta. The new 2.5Mta cement works in Yadawad, near Belgaum, will be commissioned by February next year and forms part of the Damia Bharat Group’s plan to expand its presence in the north. "Three years ago, we were considered as predominantly south-based cement maker. But, we have added a plant in northeast and eastern India in the last couple of years. W... |
India: industry targets 25% TSR by 203012 August 2013, Published under Cement NewsThe Indian cement industry is failing to realise the potential for alternative fuels and raw material utilisation (AFR), but resolves to raise the thermal substitution rate (TSR) to 25 per cent by 2030, from the current level of less than one per cent. This was the conclusion of a two-day conference on co-processing in cement plants, convened by the Washington-based Institute for Industrial Productivity (IIP) and the Cement Manufacturers’ Association (CMA) of India. In his introductory... |
CRH to acquire Sree Jayajothi Cements, India12 August 2013, Published under Cement NewsCRH has announced that its 50:50 joint venture in India, My Home Industries Limited (MHIL) has reached an agreement to acquire 100 per cent of the shares of Sree Jayajothi Cements Limited (SJCL), a 3.2Mta cement company based in south India for INR14,000m (EUR175m). The investment will be financed from MHIL’s existing debt capacity and by equity inputs from the joint shareholders (EUR70m). CRH’s equity interest will amount to approximately EUR35m. With the addition of SJCL, MHIL b... |
Star Cement exports clinker to Bangladesh via river route12 August 2013, Published under Cement NewsIndia-based Star Cement said it has dispatched its first barge of clinker to Bangladesh via river. The company is aiming to export over 50,000t of clinker to Bangladesh every month using the riverine route, the Meghalaya Times reported its President (Sales & Marketing), Jyoti Swaroop Agarwal, as saying. In a pilot project Star Cement had started clinker export to Bangladesh last year by road and now it has started to export by river. "We believe that this mode of logistics will definitely b... |
Ramco eyes Myanmar plant construction09 August 2013, Published under Cement NewsIndia-based Ramco is planning to set up a cement factory in Myanmar. “Our company has been jointly working with Agro Coro International Pte Ltd to import cements from Ramco for six months. We are now in discussions with respective officials to establish the factory,” a source told local press. Interest in Myamnar’s cement industry has been increasing as the country opens up to the world after 50 years of military rule into a newly-born democracy. Currently there are 14 cement plants and 25... |