Cement News tagged under: indian sub-continent
Orient Cement sees revenue improve01 February 2023, Published under Cement NewsIndia-based Orient Cement Ltd has reported unaudited revenue from operations of INR7322.9m (US$89.6m) in the quarter ended 31 December 2022. This compares to INR6152.8m in the previous quarter and INR6175.3m in the same period a year earlier. Net profit for the quarter ended 31 December 2022 stood at INR275.2m, versus a loss of INR94.9m in the previous quarter and a profit of INR436.7m in the same period in 2021. Power and fuel costs advanced from INR1399.1m in the quarter ended 31 De... |
Lucky Cement increases profit by 23% in 1HFY21-2231 January 2023, Published under Cement NewsPakistan cement producer Lucky Cement Ltd has announced its financial results for the half-year ending 31 December 2022. It reported a profit after tax of PKR7.128bn (US$27.4m) compared to PKR5.744 earned in the corresponding period last year, a growth of 23 per cent YoY. According to a notification of the company to the Pakistan Stock Exchange (PSX), Lucky Cement’s sales increased by 21 per cent to PKR45.333bn from PKR37.549bn during the same period last year. It incurred adistributio... |
Nepal cement production falls 70%30 January 2023, Published under Cement NewsNepal’s cement industry has cut production by up to 70 per cent due to a lack of demand, reports My Republica. According to the Nepal Cement Manufacturers Association, unless the situation changes, more than a dozen industries will be forced to shut down this year. Reduced capital expenditure and a lack of construction materials have caused many development projects to grind to a halt, resulting in a significant decline in demand for cement. The situation has been exacerbated by the closur... |
Shree Digvijay Cement sees 36% revenue increase27 January 2023, Published under Cement NewsIndia’s Shree Digvijay Cement Co Ltd has reported a 36 per cent YoY increase in revenue in the 3QFY23 (ended 31 December 2022) to INR2064.4m (US$25.3m). EBITDA over the same period came in at INR170m, down from the INR200.2m seen in the same period a year earlier, while profit after tax advanced from INR72.7m to INR101.9m over the same period. Sales volumes in the 3QFY23 stood at 3.51Mt, up from 2.87Mt in the 3QFY22. For the nine months ended 31 December 2022, revenue was INR5296.8m, u... |
Power Cement to use local Thar coal26 January 2023, Published under Cement NewsSindh Engro Coal Mining Co(SECMC) and Power Cement have signed a memorandum of understanding (MoU) for a trial run of Thar coal for cement production in Power Cement's plant at Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh, Pakistan. The MoU was signed by Sindh Engro Coal Mining Co CEO, Amir Iqbal, and Power Cement CEO, Kashif Habib. Power Cement's Chief Operating Officer, Ahsan Anis, Director Export Marketing, Saifuddin Khan, and DGM International Trade, Badar Bin An... |
Cement exports nosedive in 1HFY22-23 in Pakistan24 January 2023, Published under Cement NewsPakistan’s cement industry export revenue and overseas dispatches in the first six months of FY22-23 (July-December 2022) nosedived both YoY and MoM, according to the country’s Federal Bureau of Statistics (FBS). Industry experts blamed the country's political and economic uncertainty, and slowed world economy. In addition, export markets are drying up and domestic demand is weak as construction costs have become prohibitively high for most materials. During the 6MFY22-23, the cemen... |
UltraTech Cement Ltd posts consolidated net sales of INR152,990m in 3QFY2223 January 2023, Published under Cement NewsUltraTech Cement Ltd ( Aditya Birla Group ) has announced its financial results for the quarter ended 31 December 2022. Consolidated net sales totalled INR152,990m (US$1.88bn) compared to INR127,100m over the corresponding period of the previous year. Profit after tax was INR10,580m as compared to INR11,730m in the 3QFY21-22, resulting in subdued margins. Domestic grey cement sales volume rose 13 and 12 per cent QoQ, respectively. Energy and raw material costs were up 33 and 13 pe... |
Pakistan exports to the USA for the first time20 January 2023, Published under Cement NewsPakistan’s DG Khan Cement Co (DGKCC) has announced that it will export 600,000t of low-alkali cement to the USA each year. This marks the first time Pakistan has exported cement to the USA, according to Farid Fazal, executive director, DGKCC. The first consignment of 50,000t was dispatched in June 2022, with a second shipment of 37,500t leaving for Houston this month. The third delivery will leave for the US in February this year. Pakistan has become one of 25 countries exporting cemen... |
Steel shortage may impact the cement industry19 January 2023, Published under Cement NewsThe Pakistan Ship Breakers Association (PSBA) said on 18 January that the shipbreaking industry is on the verge of closure as local banks are reluctant to open letters of credit to import vessels for breaking up (recycling) and as a result, producing raw material for the steel industry. This is expected to lead to an acute shortage of construction steel bars in the country. Therefore , there could be a drastic escalation in construction steel prices and it is anticipated that consum... |
UltraTech improves CDP climate action rating to A-17 January 2023, Published under Cement NewsUltraTech has been recognised as a leader in 'climate change' by Carbon Disclosure Project (CDP), a global non-profit environmental organisation, for its 2022 CDP disclosure. UltraTech received an ‘A-’ score for implementing best practices and for taking concerted action on climate issues, securing a place in the Leadership category. UltraTech’s score of 'A-' in FY21-22 by CDP is a significant improvement from its previous score of 'B' in FY20-21. UltraTech’s score on 'climate ch... |