Cement News tagged under: indian sub-continent
Study aids decarbonisation plans in emerging markets20 October 2022, Published under Cement NewsA recent study into how cement is used in emerging markets has revealed a number of trends with key implications for the decarbonisation of the cement industry. The study, titled ‘Paving the way for a better future’, was carried out by the Concrete Action for Climate initiative of the Mission Possible Partnership, co-led by the Global Cement and Concrete Association (GCCA), the World Economic Forum, in collaboration with Boston Consulting Group (BCG), and centred on four emerging markets ... |
Fauji Cement to become Pakistan’s third-largest cement player20 October 2022, Published under Cement NewsThe Fauji Cement Company Ltd (FCCL) is currently undertaking two expansions to become the second-largest cement producer in the north of Pakistan and third-largest cement player in the country as a whole. Top officials from the company disclosed this during a corporate briefing on 18 October discussing the FY21-22 financial result (the FY21-22 profit of the company was the highest in history) and future outlook. According to Topline Pakistan Research, the merger of Askari Cement and ... |
Dalmia and Sagar submit formal bids for Andhra Cements19 October 2022, Published under Cement NewsDalmia Cement (Bharat) Ltd and Sagar Cements have formally submitted offers to acquire Andhra Cements, according to Business Standard. Andhra Cements, which reportedly owes INR9700m (US$117.9m) to its lenders, was acquired by Jaypee Group in 2012 but has failed to report any sales for the last two years, or repay its debts. Data from Capitaline show that net sales by the company have fallen from INR4663m in FY18 to zero in FY22. Andhra Cements currently has two cement plants with a c... |
HeidelbergCement India sees 88% slump in profit18 October 2022, Published under Cement NewsHeidelbergCement India Ltd has reported a 12.2 per cent YoY decline in revenue in the quarter ended 30 September 2022. Revenue for the three-month period came in at INR5060m (US$61.5m), compared to INR5765m in the same quarter a year earlier. EBITDA over the same period fell 59.2 per cent from INR1165m to INR476m, while profit after tax slumped 88.2 per cent from INR596m to just INR70m. According to the company, the decline in profitability is due to a significant increase in fuel costs... |
ACC Ltd records cement volume growth of 4%18 October 2022, Published under Cement NewsACC Ltd (ACC) (Adani Group) has announced the financial results for the quarter ended 30 September 2022, recording a cement volume grew of four per cent as compared to the same quarter last year. Ready-mix concrete also performed well with a volume growth of approximately 10 per cent over the same quarter last year. With a focus on operational excellence and unlocking potential, ACC has accelerated debottlenecking of various plants and improvement in efficiencies. Alternative fuel... |
Indian profits forecast to decline14 October 2022, Published under Cement NewsIndia’s cement producers are expected to report a decline in profits for the July-September 2022 quarter, according to Mumbai-based brokerage house KR Choksey. The brokerage predicts poor results in the short-term as the industry sees a wave of consolidation taking place, along with huge capital expenditure plans announced by the industry’s leading players. KR Choksey predicts a 19.2 per cent YoY fall in net profit for UltraTech in the 2QFY22-23 with the QoQ picture showing a 33 per ... |
Pioneer Cement’s profits shrink by 47% in FY21-2213 October 2022, Published under Cement NewsPioneer Cement Ltd earned a net profit after tax of PKR1.05bn (US$4.83m) in FY21-22 (July 2021-June 2022) compared to PKR1.97bn in the same period the previous year. This translates to a decrease in profit by 47 per cent YoY. The company, in its annual report, pointed out that its net sales during the reporting period increased by 46.1 per cent to PKR31.87bn from PKR21.81bn during the same period in the previous year. Despite the topline growth, increased input costs, higher inte... |
Imerys extends capacity in India13 October 2022, Published under Cement NewsFrance-based Imerys, a world leader in mineral-based specialties, is planning to extend its capacity to meet rising demand from India’s cement and steel sectors. According to The Hindu, the company has set up a 30,000t calcium aluminate binder plant in Atchutapuram, Andhra Pradesh, to serve India’s refractory and construction industries. Imerys hopes to increase capacity further to 50,000t by 2030. The company is also in the process of setting up a research and development centre at V... |
JSW Cement announces 5Mta of new capacity12 October 2022, Published under Cement NewsJust hours after acquiring a 100 per cent stake in Springway Mining from India Cements , JSW Cement has announced plans to invest over INR32,000m (US$388.8m) in an integrated greenfield plant in Madhya Pradesh and a split grinding unit in Uttar Pradesh. According to The Hindu Business Line, the combined cement production capacity of the two units will be 5Mta. The plant in Madhya Pradesh will have a 2.5Mta clinker capacity, 2.5Mta grinding capacity, and a 15MW waste heat recovery syste... |
Power Cement Ltd posts US$2.03m loss in FY2212 October 2022, Published under Cement NewsPower Cement Ltd has reported a loss after taxation of PKR443m (US$2.03m) in its 2022 financial year, compared to a profit of PKR358m in the corresponding period last year, said a company statement to the Pakistan Stock Exchange. Net sales increased by 23 per cent to PKR17.49bn from PKR14.22bn in the same period last year. It incurred lower selling and distribution expenses of PKR965m from PKR1.19bn in FY21, while administrative costs increased to PKR286m from PKR254m over the same ... |