Cement News tagged under: indian sub-continent
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 ... |
CCI accuses Indian cement industry of antitrust violations08 August 2022, Published under Cement NewsThe investigations arm of the Competition Commission of India (CCI) has held top leadership of Holcim, ACC and Ambuja cement, market leader UltraTechCement and 17 other firms, such as Shree Cement and Dalmia Cement liable for antitrust violations. The investigation report, issued last month and seen by Reuters, is the penultimate but most significant stage of the CCI probe that started in 2019. The report, which is not public, will now be reviewed by CCI's top three officials who ha... |
Pakistan cement dispatches dwindle in July 202203 August 2022, Published under Cement NewsPakistan dispatched a 2.039Mt of cement during July 2022, down 47.7 per cent from 3.899Mt during the same month of the last fiscal year. According to the data released by the APCMA, local cement dispatches by the industry during July 2022 were 1.88Mt compared to 3.44Mt in July 2021, showing a decline of 45.3 per cent. Export dispatches also suffered a massive decrease of 66.1 per cent as the volumes reduced from 452,777t in July 2021 to 153,517t in July 2022. As a result, capacity ut... |
India's carbon trading market to be announced this month03 August 2022, Published under Cement NewsAnticipation is building that India is about to start a carbon trading market for major emitters in the energy, steel and cement industries. The clean energy initiative is expected to be announced by Prime Minister Narendra Modi at the Independence Day celebrations on 15 August, according local sources. It has been in the works since March, according to Reuters. It is thought that the market would initially be limited to hard-to-abate sectors, allowing participants to trade credits earned... |
Ramco Cements 1Q net profit falls 34%03 August 2022, Published under Cement NewsIndian cement producer The Ramco Cements saw its revenue from operations expand by 44 per cent to INR17.72bn (US$225.5bn). The company reported a stand-alone net profit of INR1.127bn in the 1Q22, down 34 per cent YoY as input and raw material costs spiked. “EBIDTA for Q1 this fiscal is INR308 crore [INR3.08bn] against INR370 crore [INR3.7bn] during Q1 last year with de-growth of 17 per cent, mainly due to sharp increase in fuel price and weak cement prices. The industry could not pass on... |
Orient Cement profit hit by fuel costs01 August 2022, Published under Cement NewsOrient Cement has recorded unaudited revenue from operations of INR7139.3m (US$90.1m) in the quarter ended 30 June 2022. This compares to INR6909m in the same period a year earlier. Total expenses over the same period, however, advanced from INR5558.7m to INR6560.5m, mainly driven by soaring power and fuel costs which advanced from INR1320.8m to INR2286.8m. As a result, net profit for the quarter ended 30 June 2022 came in at INR3741.7m, down from the INR8945.8m seen in the same peri... |
JK Lakshmi Cement sees revenue gain28 July 2022, Published under Cement NewsJK Lakshmi Cement has reported unaudited standalone revenue from operations of INR15,510m (US$194.3m) in the three months ended 30 June 2022, compared to INR12,315m in the same period a year earlier. Total expenses over the same period advanced from INR10,871m to INR14,060m with power and fuel expenses rising from INR2413m to INR3659m, and transport, clearing and forwarding charges increasing from INR2483m to INR3120m. EBITDA in the three months ended 30 June 2022 came in at INR2243m, ... |
UWCL reports on revenue rise28 July 2022, Published under Cement NewsIndia's Udaipur Cement Works Ltd (UWCL) has reported unaudited revenue from operations of INR2781.1m (US$34.8m) in the quarter ended 30 June 2022, compared to INR2163.3m in the same period a year earlier. Total expenses over the three-month period came in at INR2594.4m, up from the INR1951.9m seen in the same quarter in 2021. Cost of materials consumed had jumped from INR272.7m in the quarter ended 30 June 2021, too INR318.5m in the same period this year. Meanwhile, power and fuel expen... |
UltraTech Cement decreases CO2 intensity by 9% in FY2021-202227 July 2022, Published under Cement NewsUltraTech Cement ( Aditya Birla group ) has released its 2021-22 Sustainability Report. The company claims that in FY2021-2022 it decreased its CO 2 intensity by 9.1 per cent at 551.86kg CO 2 /t of cementitious materials produced. This resulted in achieving 15.1 per cent of Scope 1 intensity target against the target of 27 per cent reduction target by 2032 from the 2017 baseline. Greenhouse gas emissions totalled 195kg CO 2 /m 3 for concrete production. UltraTech Cement now has a re... |
UltraTech Cement Ltd reports net sales of INR150,070m in 1QFY2325 July 2022, Published under Cement NewsUltraTech Cement Ltd ( Aditya Birla Group ) has announced its financial results for the quarter ended 30 June 2022 with consolidated net sales of INR150,070m (US$1.88bn) versus INR116,980m over the corresponding period of the previous year. After a strong end to FY22, cement demand was impacted by overall inflationary trends and lower labour availability in May 2022. However, cement demand picked up in June 2022 on pre-monsoon construction activity. Profit before interest, depre... |