Indian producers turn to Venezuela for petcoke supplies
The surge in global coal prices has prompted Indian cement producers to turn to petcoke instead with the country importing significant volumes from Venezuela for the first time....
India
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CCI approves Adani acquisition of Ambuja and ACC stakes
The Competition Commission of India (CCI) has approved the acquisition of Holcim ’s stake in Ambuja Cements Ltd and its subsidiary ACC Ltd by the Adani Group. The deal, which wa...
Grasim Industries sees 41% YoY rise in revenue in 1QFY23
Grasim Industries has reported a 41 per cent YoY increase in consolidated revenue in the 1QFY23. The three-month period saw revenue of INR280,420m (US$3518m), compared to INR199...
India Cements doubles 1Q net profit
India Cements Ltd (ICL) reported that net profit for the 1QFY2023 more than doubled to INR760m (US$9.54m) over the year-earlier period. Revenue from operations rose by 41 per ce...
Margins squeezed for Indian cement producers
India remains one the fastest-growing economies at 7.4 per cent GDP growth in 2022, according to the IMF. Cement demand has also risen and is forecast to rise by 7-8 per cent in...
Keerthi Industries reports revenue fall
India-based Keerthi Industries Ltd, formerly Suvarna Cements Ltd, has reported unaudited revenue of INR571.67m (US$7.2m) in the quarter ended 30 June 2022, compared to INR714.18...
KHD signs package of contracts with UltraTech Cement
Humboldt Wedag India Private Ltd, a subsidiary of KHD Humboldt Wedag International AG, has signed a package of contracts with UltraTech Cement Ltd. According to Dow Jones Newswi...
Sanghi Cement reports a loss as power costs soar
Sanghi Cement has posted unaudited revenue of INR3391.4m (US$42.67m) in the quarter ended 30 June 2022, up from INR2819m in the same period a year earlier. Compared to a profit ...
Deccan Cements posts fall in revenue for June quarter
India’s Deccan Cements Ltd has reported unaudited revenue of INR1940.16m (US$24.4m) in the quarter ended 30 June 2022, compared to INR2242.36m in the same period a year earlier....
Sagar Cements to submit acquisition plan for Andhra Cements
Sagar Cements will submit a resolution plan for its acquisition of Andhra Cements before 18 August 2022. According to The BusinessLine, the company hopes to receive the necessar...