Cement News tagged under: indian subcontinent

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Ramco Cements posts 47% rise in net profit

25 May 2021, Published under Cement News

India’s Ramco Cements has reported a 47 per cent rise in net profit to INR2.14bn (US$29.4m) in the final quarter of the FY20-21, compared to INR1.46bn in the year-ago period. Net revenue advanced 17 per cent YoY to INR16.40bn from INR14bn in the 4QFY19-20, while EBITDA increased 58 per cent from INR2.91bn to INR4.59bn. Ramco’s cement sales were also up to 3.21Mt from 2.93Mt. However, in the full-year period, cement sales declined 11 per cent YoY to 9.98Mt from 11.2Mt. Revenue decreased 1...

JK Lakshmi Cement reports 37% rise in net profit

21 May 2021, Published under Cement News

India’s JK Lakshmi Cement has reported a 37 per cent YoY rise in standalone net profit to INR1.38bn (US$18.99m) for the quarter ending 31 March 2021, compared with INR1.01bn in the year-ago period. Revenue from operations also advanced 24.6 per cent YoY to INR13.22bn, while the EBITDA margin climbed to 20.3 per cent from 19 per cent in the 4QFY19-20. "Despite a hike in the prices of inputs like petcoke, diesel, fly ash and gypsum, JKLC has improved its profitability on account of substantia...

Indian demand set to decline 20% in June quarter

19 May 2021, Published under Cement News

Indian cement demand in the April-June 2021 quarter is expected to drop by 20 per cent as a result of localised restrictions related to COVID-19 cases in the country, according to Fitch Ratings. Cement demand from rural housing is expected to decrease by a larger extent as it is more dependent on individual customers. Consumption from other segments, such as urban housing, infrastructure and commercial construction, is likely to be less affected. The input costs for petcoke, imported c...

Geocycle India to help reduce plastic waste leakage

19 May 2021, Published under Cement News

Geocycle India, the in-house waste management arm of LafargeHolcim’s Ambuja Cements and ACC, will implement its Bubble Barrier technology at the Mantola Canal in Uttar Pradesh, to tackle plastic waste leakage. "The Geocycle Bubble Barrier is an innovative concept based on existing technology which makes smart use of a combination of natural currents and a bubble curtain to channel plastic waste towards the banks of rivers and canals instead of it flowing directly into the Yamuna river, fr...

Penna Cement refiles for IPO

17 May 2021, Published under Cement News

India’s Penna Cement Industries has refiled for its initial public offering to raise INR13bn (US$177.5m) through fresh equity shares while its promoters would raise INR2.5bn through an offer for sale. The company expects to use the capital to repay INR5.5bn of borrowings. It would also fund capital expenditure of INR1.05bn for its KP Line II project, while INR800m would go towards upgrading its raw grinding and cement mill in Talaricheruvu, and INR1.1bn and INR1.30bn towards setting up was...

Birla Corp reports 27% net profit increase

14 May 2021, Published under Cement News

India’s Birla Corp has posted a net profit of INR2.49bn (US$33.87m) in the 4QFY20-21, up 27 per cent YoY from INR1.95bn, as cement sales advanced 24.5 per cent YoY to 4.17Mt. Revenue for January-March 2021 also advanced 24.9 per cent to INR21.46bn. Capacity utilisation reached 108 per cent. For the full-year, Birla Corp recorded its highest-ever net profit of INR6.3bn, up 24.7 per cent YoY, while revenue dipped 1.6 per cent to INR68.85bn. Cement sales also fell 1.8 per cent YoY to 13.39M...

OPGC sends fly ash to Star Cement

13 May 2021, Published under Cement News

India-based Odisha Power Generation Corp (OPGC) has begun dispatching fly ash to Star Cement’s plant in Assam, with around 4000t sent from its thermal power station yesterday. OPGC has three dry fly ash silos with a capacity of 2300t each and has the potential to dispatch around 90000tpm of ash, which could be further increased in months to come.

Sinoma to expand Lucky Cement's WHR capacity

12 May 2021, Published under Cement News

Pakistan’s Lucky Cement has signed an agreement with Sinoma Energy Conservation for the expansion of its two waste heat recovery (WHR) units in Pezu, Khyber Pakhtunkhwa. The capacity of the two plants is expected to advance by around 4MW. The companies have worked together since 2008 on the original WHR lines at Pezu with a generating capacity of 10MW each, as well as the 15MW Karachi EFG power plant project and a waste heat boiler extension in Karachi.

Nuvoco Vistas set to file papers for INR50bn IPO

07 May 2021, Published under Cement News

India’s Nuvoco Vistas Corp is shortly expected to file preliminary papers with the Securities and Exchange Board of India to raise INR50bn (US$679.35m) through an initial public offering. The sale would consist of INR15bn of new shares and an offer for sale of INR35bn by its promoters, according to the Economic Times. The proceeds are expected to be used for loan repayments and general corporate purposes.

Zuari Cement cleared to resume operations

07 May 2021, Published under Cement News

After being issued with a closure order by the Pollution Control Board last month, India’s Zuari Cement has filed a challenge to the Andhra Pradesh High Court. After hearing the petition, the court dismissed the closure order but noted that the company would still need to implement the board’s instructions by the end of May.