Cement News tagged under: indian subcontinent

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Shree Cement sees 4% increase in revenue in 1Q22

24 May 2022, Published under Cement News

Shree Cement has reported a 3.9 per cent YoY uptick in revenue to INR40.99bn (US$527.8m) in the opening quarter of 2022. Sales volumes over the same period slipped two per cent to 8Mt, while EBITDA declined to INR10.49bn, compared to INR13.04bn in the 1Q21. The EBITDA margin contracted from 31.97 per cent in the 1Q21 to 24.75 per cent this year.   According to BusinessLine Online, the growth in revenue is being attributed to price increases as cost pressures and inflation continue to ha...

Prices expected to fall after excise duty cut on fuel

24 May 2022, Published under Cement News

The cut in excise duty on fuel by India’s government is expected to lead to price reduction for cement users as the cement industry saves on transport and freight costs, according to companies and analysts, reports Business Standard. In April most cement companies increased prices by 8.3 per cent to INR390 (US$5.02)/50kg bag with expectations for May indicating a further price increase. However, according to analysts, there could be a reduction of the price by as much as INR15/bag although s...

Nuvoco Vistas Corp sees 24% increase in revenue in FY21-22

23 May 2022, Published under Cement News

India-based Nuvoco Vistas Corp has announced its audited financial results for the financial year ended 31 March 2022. Consolidated revenue from operations improved by 24 per cent to INR93.18bn (US$1.2bn) for FY21-22 while consolidated EBITDA reached INR15.39bn and profit after tax at INR320m. Consolidated net debt declined by INR16.66bn to INR50.64bn in the FY21-22. Commenting on the financial results, Nuvoco Vistas Corp MD, Jayakumar Krishnaswamy, said: "FY22 was an exceptionally c...

JK Cement 4Q net profit advances 36%

23 May 2022, Published under Cement News

Indian cement producer JK Cement reported a standalone net profit of INR862.6m (US$11.1m) for the quarter ended 31 March 2022, representing an increase of 36.2 per cent when compared with the 1Q21 when net profit reached INR633.4m. Net revenue increased 10.6 per cent to INR22.689bn in January-March 2022 ffrom INR20.525bn in the year-ago period. However, operating expenses were up 16.9 per cent tYOY to INR18.863bn from INR16.338bn in the 4Q21. The company’s operating profit slipped by...

Star Cement posts net profit rise

18 May 2022, Published under Cement News

Star Cement Ltd saw a 24.2 per cent advance in revenues to INR7.49bn (US$96.6m) in the January-March 2022 quarter from INR6.03bn in the corresponding period of the previous year. The company’s net profit increased 3.6 per cent to INR884.2m in the 1Q22 from INR853m in the 1Q21.

Adani Group acquires Holcim India

16 May 2022, Published under Cement News

Adani Group has agreed to purchase Holcim India for CHF6.4bn (US$6.37bn). The deal includes Holcim’s 63.11 per cent stake in Ambuja Cement, which owns a 50.05 per cent interest in ACC, as well as its 4.48 per cent direct stake in ACC. The combined footprint of Ambuja Cement and ACC includes 31 cement production sites with a total cement production capacity of 66Mta and 78 ready-mixed concrete plants across India. The transaction is expected to complete in the second half of 2022.   “Wit...

JSW Group to submit bid for Holcim India

11 May 2022, Published under Cement News

JSW Group has revealed plans to submit a US$7bn bid for a controlling stake in Holcim’s India assets. Holcim currently holds a 63.1 per cent share in Ambuja Cements and a 4.48 per cent share in ACC , with Ambuja controlling a 50.05 per cent stake in ACC. Speaking to Financial Times, Sajjan Jindal, chairman and managing director of JSW Group, said that the company would fund US$4.5bn of the bid while private equity players would provide the remaining US$2.5bn.   JSW Group currently ...

Cement prices in India face further rise

21 April 2022, Published under Cement News

Following the price rise of imported coal, petcoke and crude oil due to the Russia-Ukraine war, cement prices in India are expected to increase by 6-13 per cent. In the last six months, coal and petcoke prices have surged by 30-50 per cent, according to industry sources. A report by Indian analysts CRISIL, domestic cement prices are expected to advance a further INR25-50/bag in April as producers start to pass on rising costs to consumers. This follows a rise to INR390/bag in the past 12 m...

UltraTech Cement preferred bidder for Karnataka limestone

13 April 2022, Published under Cement News

UltraTech Cement (owned by Aditya Birla Group ) has emerged as the preferred bidder in the e-auction for the Diggaon Limestock Block. "The company participated in the e-auction of Diggaon Limestone Block conducted by the Government of Karnataka and has been declared as the preferred bidder," the company said in a regulatory filing. The block is situated in Chittapur township in the Kalburgi district of Karnataka, India. It is adjacent to UltraTech Cement’s Rajashree cement plant. The bl...

India’s cement producers to pay for NABL tests

05 April 2022, Published under Cement News

To ensure supplied cement meets quality standards, India’s cement manufacturers will need to absorb the testing costs at laboratories approved by the National Accreditation Board for Testing and Calibration Laboratories (NABL). Each tests costs INR20,000 (US$265.30). The system was introduced by the Civil Supplies Corp. Cement is supplied at subsidised rates to the state governments by Ambuja Cements , UltraTech Cement , ACC Cement and Duraton. The subsidised rate levied by the producer...