Cement News tagged under: indian sub-continent
Dalmia Bharat posts 24% YoY increase in net profit07 August 2020, Published under Cement NewsIndia’s Dalmia Bharat has reported a 23.7 per cent YoY rise in consolidated net profit to INR1.88bn (US$25.08m) for the quarter ending June 2020, compared with 1.52bn in the year-ago period. However, revenue from operations declined 22.2 per cent to INR19.74bn from INR25.37bn. "Despite the challenges posed by COVID-19, the company once again delivered a strong performance and achieved an EBITDA of INR1675/t during this quarter," said the company. "The same is the highest ever EBITDA achie... |
Mangalam Cement commissions 11MW WHR plant07 August 2020, Published under Cement NewsIndia’s Mangalam Cement has fully commissioned its 11MW waste heat recovery unit at its plant in Morak, Rajasthan. It had initially put 5.15MW of capacity into operation on 15 January 2020 with the remainder set to be commissioned in the 4QFY19-20. However, this plan was delayed by the COVID-19 pandemic. |
JK Lakshmi sees 13% rise in net profit07 August 2020, Published under Cement NewsIndia’s JK Lakshmi Cement posted a 12.9 per cent increase in net profit to INR446.4m (US$5.96m) for the 1QFY20-21, compared with INR395.4m last year. However, it noted that sales volumes were severely impacted by lockdown restrictions. Sales saw a 21 per cent decline to INR8.25bn from INR10.42bn in the 1QFY19-20. EBITDA was also down 14 per cent YoY to INR1.52bn. The company noted the importance of cost savings in improving its operating margins. "To reduce the power cost, the company ... |
Exports of cement from Pakistan rise during July 2005 August 2020, Published under Cement NewsAll Pakistan Cement Manufacturers Association (APCMA) has issued official dispatch data for July 2020, adding that the new fiscal has started well for the cement sector as the shipments increased by 37.8 per cent from 3.512Mt in July 2019 to 4.838Mt in July 2020 on the back of buoyant export and domestic demand. This is a significant improvement on the two per cent growth in dispatches in FY19-20, which was driven by export demand, according to APCMA. Domestic demand slipped by 0.9 per cent ... |
JK Cement estimates cement sales volumes for 1QFY2104 August 2020, Published under Cement NewsIndia’s JK Cement has estimated that its grey cement sales dropped 20 per cent YoY during the first quarter of FY20-21, compared to the corresponding period of the previous fiscal. However, the company noted that sales volumes are picking up gradually. Elsewhere, its white cement business saw a 50 per cent drop in sales during the 1QFY20-21, according to India Infoline. Capital expenditure during the current financial year is expected to be limited to INR7bn (US$93.27m). |
Nuvoco wins the FICCI CSR Award 2018-19 for education04 August 2020, Published under Cement NewsNuvoco Vistas Corp Ltd has won the Federation of Indian Chambers of Commerce and Industry (FICCI) CSR Award 2018-19 in the Education category for their project ‘Shikshit Sunderhattu’ at the 18th edition of FICCI CSR Awards. The award ceremony was held virtually on 27 July 2020 in the wake of COVID-19, where Shri Anurag Thakur, Minister of State for Finance & Corporate Affairs, facilitated the award to Joydeep Chatterjee, who heads Nuvoco's CSR and Corporate Affairs, for the ‘Shikshit Sund... |
Sagar Cements sees 23% decline in revenue03 August 2020, Published under Cement NewsIndia’s Sagar Cements has reported a 23.3 per cent YoY decrease in revenue from operations to INR2.64bn (US$35.19m) in the first quarter of FY20-21, compared with INR3.44bn in the corresponding period of the last fiscal. Lower sales volumes following the country’s lockdown was regarded as one of the main reasons for the falling results. "The exodus of labour from construction sites also impacted the demand sentiments. With limited visibility on demand side, we focused our attention towards... |
Good start to financial year for Pakistani producers03 August 2020, Published under Cement NewsPakistan's cement industry displayed a robust jump in sales during the first month of the current fiscal year (FY20-21). The significant increase in dispatches also reflected in the performance of scripts on Pakistan's Stock Exchange (PSX) for the last few days. According to provisional cement data compiled by AHL Research, July 2020 displays an uptick of seven per cent MoM to 4.97Mt (June 2020: 4.62Mt) led by growth in south. Total dispatches show a considerable increase of 41 per cent Yo... |
State Bank reviews the cement industry’s performance for the period 9MFY2031 July 2020, Published under Cement NewsThe State Bank of Pakistan released its 3QFY20 report on ‘The State of Pakistan’s Economy’ on 30 July. According to the report, successful stabilisation measures that had fostered macroeconomic improvement in July 2019-February 2020 provided a valuable cushion against the downturn faced from late March 2020 onward in the wake of the COVID-19 outbreak. The cement industry was also recovering during July 2019-February 2020. Cement dispatches rose by 10 per cent during this period compared to ... |
Pakistani cement and construction FDI down in FY19-2030 July 2020, Published under Cement NewsThe State Bank of Pakistan (SBP) has released foreign direct investment (FDI) data for June 2020 and the FY2019-20. FDI surged by 45 per cent MoM to US$174.8m in June while for the full financial year, FDI soared 88 per cent to US$2.561bn from US$1.362bn in FY18-19. China transferred the highest net FDI of US$843.1m, Norway US$402m and Hong Kong US$190.7m. However, the increasing FDI trend is yet to reflect in the country's construction and cement sectors, which still lag behind other indus... |