Cement News tagged under: indian sub-continent
Attock Cement makes loss after super tax18 August 2022, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) has announced its financial result for 4QFY21-22 (April-June 2022), posting a loss after tax of PKR59m (US$274,781) compared to a profit after tax of PKR149m in the same period last year. The main reason behind this loss has been the recognition of super tax and deferred tax liability, according to AHL Research. This took the FY21-22 (July 2021-June 2023) earnings to PKR1181m against PKR1107m in the same period a year earlier. Alongside the result, the co... |
Nepali cement producers raise prices17 August 2022, Published under Cement NewsNepali cement manufacturers have increased the price of their products by NPR50/bag (US$0.39/bag), due to soaring raw materials prices. Cement manufacturers said demand at present has fallen by a notable quantity due to slow development work and low capital expenditure of the government. Increasing prices of coal and petroleum products, higher transport costs and the hike in bank interest rates have also raised production costs. Despite raising the price by a notable amount, cement ma... |
Steep fall in Pakistan cement exports in July 202217 August 2022, Published under Cement NewsPakistan began the new fiscal (July 2022) by registering lower cement and clinker exports in value and volume terms, with declines seen on both a MoM and YoY basis. Experts attribute the decline to the global economic slowdown, supply chain disruptions and higher sea freight charges. Low export prices coupled with increasing coal prices made exports unattractive during the first month of the new fiscal, according to AKD Research. The negative trend was also observed last year, and domest... |
India Cements doubles 1Q net profit15 August 2022, Published under Cement NewsIndia 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 cent to INR14,460m and total expenditure increased by 57 per cent to INR152,60m, the company said in a filing. Total comprehensive income more than doubled to INR800m. During the quarter, clinker production was up by 28 per cent while cement sales rose by 38 per cent to 2,553,000t. Clinker sales were marginally... |
Ghori Cement completes phase 2 of modernisation15 August 2022, Published under Cement NewsGhori Cement in Afghanistan has increased production with the start of Phase 2 of its modernisation programme, raising cement output from 350tpd to 520tpd, according to local officials. Abdul Wakil Qauomi, financial manager of Ghori Baghlan cement factories, told Bakhtar Agency that the factory is able to export more cement across the country or abroad. After handing over the Ghori cement factories to the National Development Directorate, technical problems of factories have been sol... |
Bangladesh expects a 15% growth in cement exports in FY22-2312 August 2022, Published under Cement NewsBangladesh has set an export target for the cement industry at US$11m during the 12 months of the ongoing financial year, ending 31 June 2023, compared to US$9.57m earned in FY21-22. This translates to expected growth of 15 per cent YoY, according to the Bangladesh Export Promotion Bureau (EPB) data. Meanwhile, the first month of FY22-23, ie July 2022, started with bringing home US$0.72m of earnings on account of cement exports, up by 94.6 per cent over the same month last year. The figur... |
Dalmia Bharat Ltd reports revenue of INR33,020m in 1QFY22-2310 August 2022, Published under Cement NewsDalmia Bharat Ltd reported its consolidated financial results for the quarter ending 30 June 2022 (1QFY2023) with revenue totalling INR33,020m (US$414.8m) compared to INR25,910m in the 1QFY2022. EBITDA reached INR5860m in the 1QFY2023 down from INR7130m in the 1QFY2022. Sales volumes rose by 27.3 per cent to 6.2Mt from 4.9Mt in the 1QFY2022. Profit after tax totalled INR2050m in the 1QFT2023 down 26.8 per cent from INR280m in the 1QFY2022. Commenting on the quarter gone by, Puneet Dalm... |
Lucky Cement's domestic capacity to rise to 15.3Mta09 August 2022, Published under Cement NewsLucky Cement Ltd announced its financial results for the 4QFY21-22 (April-June 2022) on 5 August 2022 and held a corporate briefing session at the Pakistan Stock Exchange (PSX) to discuss the company’s outlook. Expansion of the Pezu cement plant in Pakistan's Khyber Pakhtunkhwa province to 3.15Mta is progressing well and is expected to cost PKR30bn (US$133.6m), according to Lucky Cement. This brownfield expansion in the north of the country is scheduled to come on-line in December 2022... |
thyssenkrupp wins pyroprocessing orders in India09 August 2022, Published under Cement NewsthyssenKrupp Industrial Solutions India have been awarded contracts by Shree Cement and Hills Cement . The orders comprise the planning, engineering and supply of pyroprocessing plants, each including a Polytrack ® clinker cooler. Balasubramanian VN, director of thyssenkrupp Industries India's cement division, said: "The fact that Shree Cement and Hills Cement are working with us for the first time is of great strategic importance to us. We thank the management of both companies for... |
Margins affected by 10% super tax08 August 2022, Published under Cement NewsPakistan cement companies listed on the Pakistan Stock Exchange (PSX) are scheduled to announce their financial results for FY21-22 in August-September. The cement industry has fingers crossed to see their top line, which is likely to be impacted by the government's imposition of a one-time surcharge on the previous year's income. The Inter Market Securities Ltd estimated that higher tax and interest would chop earnings of the top seven companies. IMS Cement Universe's (comprising Lucky ... |