Cement News tagged under: indian sub-continent
Attock Cement Pakistan earns profit in 1QFY2411 October 2023, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its 1QFY24 (July-September 2024) results today where the company posted profit after tax (PAT) of PKR1.54bn (US$5.67m) as opposed to PAT of PKR0.11bn in the same period last year. This could be the outcome of selling overseas units during this accounting period, according to the company's filing to the Pakistan Stock Exchange. However, research house Insight Securities (Pvt) Ltd says that the result came below expectations mainly due to lo... |
Bangladesh posts 101% cement export revenue growth in 3MFY2410 October 2023, Published under Cement NewsBangladesh has recorded 100.9 per cent YoY growth in cement export revenue to US$4.38m in the first three months (July-September 2023) of FY23-24 from US$2.18m earned in the same months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. A target of US$3.38m for three months was also surpassed by 29.6 per cent YoY. Bangladesh had set a higher target export revenue of US$15m for FY23-24 aga... |
Seven Rings Cement used to build new airport terminal in Bangladesh10 October 2023, Published under Cement NewsSeven Circle Bangladesh Ltd of Bangladesh announced that it supplied 333,000t of cement and approximately 1.27Mt of the aggregates for the newly-built terminal of Shahjalal International Airport in Dhaka, which Prime Minister Sheikh Hasina inaugurated on 7 October. Shun Shing Group of Hong Kong established Seven Circle Bangladesh Ltd to produce and market cement under the Seven Rings Cement brand. The first factory of Seven Rings Cement was established at Kaligong, Gazipur, Dhaka, under t... |
Fecto Cement reports loss in FY22-2309 October 2023, Published under Cement NewsFecto Cement Ltd has announced its financial results for the year ending 30 June 2023 (FY22-23). It shows a loss after tax at PKR133m (US$0.478m)) against the profit of PKR286m reported in FY22-23. The high cost of sales is expected to be one of the main reasons for losses. Fecto Cement ’s sales increased to PKR8.68bn in the FY22-23 from PKR6.77bn in the FY21-22. Similarly, the cost of sales rose to PKR8.36bn in the FY22-23 from PKR5.90bn in the year-ago period. The administrati... |
Crafters Polypropylene Packages achieves record AD*STAR production06 October 2023, Published under Cement NewsBy producing 199,000 AD*STAR block bottom sacks in 24 hours on a single conversion line, Crafters Polypropylene Packages (PVT) Ltd has achieved a production record that has never been reached before for this type of sack. Crafters supplies the AD*STAR sacks primarily to the cement industry, one of its main customers being Pakistan’s biggest cement producer, Lucky Cement . With a sack weight of 65g for a filling volume of 50kg, AD*STAR sacks are currently the most lightweight type of sack... |
UltraTech Cement and Adani Cement alerted to Heidelberg's Indian divestment rumour05 October 2023, Published under Cement NewsUltraTech Cement ( Aditya Birla Group ), and the country’s second-largest cement producer, Adani Cement, may join the race along with Parth Jindal-led JSW Cement to acquire Heidelberg Material’s Indian operations, reports The Hindu. Heidelberg Materials has a cement manufacturing capacity of 13.4Mta across its Indian plants in Damoh (Madhya Pradesh), Yerraguntla (Andhra Pradesh), Sitapuram (Telangana), Ammasandra (Karnataka), Jhansi (Uttar Pradesh), Sholapur (Maharas... |
Pioneer Cement's profit rises by 149% in FY2304 October 2023, Published under Cement NewsPioneer Cement Ltd (PIOC) posted a profit after tax of PKR2.61bn (US$9.07m) in FY23 versus PKR1.05bn in the previous financial year, the company said in a statement to the Pakistan Stock Exchange on 28 September. This significant advance of 149 per cent YoY is mainly due to increased sales, which rose by 13 per cent to PKR36.16bn from PKR31.87bn in FY22. The cost of sales increased to PKR26.75bn from PKR24.67bn over the same period. The company incurred higher distribution costs of... |
JSW Cement makes approach for Heidelberg Material's Indian cement operations03 October 2023, Published under Cement NewsJSW Cement , the building materials business of steelmaker JSW Group , is in initial talks with Germany's Heidelberg Materials to acquire the latter's 13.4Mta cement businesses in India, according to The Economic Times of India. JSW Group has reportedly made an unsolicited offer to acquire Heidelberg Materials' local entities that primarily have capacities in the Indian peninsular. The report further added that Heidelberg Materials is yet to make a final call on its India exit str... |
Pakistan to expect a mixed trend in dispatches in September29 September 2023, Published under Cement NewsThe cement dispatch trend in Pakistan will likely be mixed in September 2023 due to monsoon rain and transport issues, according to Topline Pakistan Research. However, the All Pakistan Cement Manufacturers Association (APCMA) has yet to release official data to support or contradict this scenario. A mixed trend of dispatches was recorded during the first two months of the current financial year. The research house believes that Pakistan's total cement sales in September 2023 are expect... |
Gharibwal Cement's profit decreases in FY2329 September 2023, Published under Cement NewsGharibwal Cement Ltd (GWLC) announced its financial results for 30 June 2023, on the Pakistan Stock Exchange’s 27 September 2023 website. The company saw a decrease in its profit to PKR1.23bn (US$430.1m) from PKR1.35bn earned in the same period last year. This represents a nine per cent YoY fall in profit YoY. The major factors responsible for this reduction were increased sales, selling and distribution expenses, and higher taxation and finance costs. The company sales increased by... |