Cement News tagged under: indian subcontinent
Saurashtra Cement sees revenue decline 13% YoY03 November 2022, Published under Cement NewsIndia’s Saurashtra Cement Ltd has reported consolidated revenue from operations of INR1864m (US$22.5m) in the quarter ended 30 September 2022. This compares to INR2145m in the previous quarter and INR1775m in the same quarter a year earlier. In the six months ended 30 September 2022, revenue from operations came in at INR4010m, up from INR3425m in the same period a year ago. In terms of profit, the quarter under review saw a net loss of INR225m, compared to a loss of INR10.2m in the prev... |
Fauji Cement commissions Nizampur Line 328 October 2022, Published under Cement NewsFauji Cement Co Ltd (FCCL) informed the Pakistan Stock Exchange that on 27 October it successfully commissioned the third production line at its existing plant in Kahi Village, Nizampur, Khyber Pakthunkhwa. The new line has a clinker production capacity of 6500tpd. The project will bring the total cement production capacity of FCCL to more than 8.4Mta, according to Company Secretary, Brig Abid Hussain Bhatti. The project was completed within planned time and budget. |
Lucky Cement reports Pezu expansion on track28 October 2022, Published under Cement NewsLucky Cement Ltd announced that the company’s 3.15Mt brownfield cement expansion at Pezu remains on track to be commissioning by December 2022. A 34MW solar power project is set to be commissioned at the site in the 2Q22-23. The company has also planned a 25.3MW solar power project it its Karachi plant, where it awaits permission from the State Bank of Pakistan to establish a letter of credit. Lucky Cement’s subsidiary in Najmat-Al-Samawah, Iraq, has switched to natural gas from furnace... |
Pakistani producers to expand cement capacities26 October 2022, Published under Cement NewsIn a cement sector update, MS Research has stated that four companies in Pakistan are expected to add extra capacity in FY22-23, lifting the current 70Mta of capacity by 11.7Mta by end March 2023. According to market sources and company announcements, Bestway Cement’ s (BWCL) greenfield expansion of 2.2Mta in Mianwali, Punjab, and Fauji Cement’ s (FCCL) 2Mta brownfield expansion in Nizampur, Khyber Pakhtunkhwa, have recently commenced trial operations. As both plants are located in the ... |
HeidelbergCement Bangladesh sees rising sales cost in 9M2226 October 2022, Published under Cement NewsHeidelbergCement Bangladesh Ltd, owned by HeidelbergMaterials, announced its financial results for the 9M22 period on 18 October. It posted a loss of BDT241.3m (US$2.3m0 during this period compared to the profit of BDT558.5m earned in the corresponding period in the last year, according to the company’s regulatory filing to the local bourse. The company's net sales/revenue increased by 1.1 per cent to BDT12.80bn, but the cost of sales also increased to BDT12.22bn from BDT11.09bn ... |
Fauji Cement revenue up 27% YoY25 October 2022, Published under Cement NewsPakistan-based Fauji Cement Co Ltd (FCCL) has posted consolidated revenue of PKR14,700m (US$66.7m) in the quarter ended 30 September 2022. This compares to PKR11,577m in the same period a year earlier, marking a 27 per cent YoY improvement. Operating profit over the same timeframe has risen from PKR2859m to PKR3555m, while profit before tax has advanced from PKR2766m to PKR3315m. Earnings per share have improved from PKR0.97 in the quarter ended 30 September 2021 to PKR1.06 in the same ... |
High cost impacts Pakistan cement export in 3MFY2224 October 2022, Published under Cement NewsAccording to Intermarket Securities Ltd, in 1QFY22-23 (July-September 2022) overall cement industry utilisation stood at 56 per cent, compared to 72 per cent in the same period last year. The fall in capacity utilisation was also partially reflected in exports. The overall increase in manufacturing cost has discouraged cement companies in the South from exporting cement/clinker at current prices, which have not moved in tandem with cost. In addition, higher international coal prices coupled ... |
LafargeHolcim Bangladesh reports 9% sales growth in 9M2221 October 2022, Published under Cement NewsLafargeHolcim Bangladesh (LHBL), a joint venture between Holcim Group and Cementos Molins, has reported positive trends in net profit, net sales, operating profit and earnings per share during the first nine months of 2022, despite an unprecedented increase in raw material costs. The company saw a seven per cent rise in net profit during the 9M22 to BDT3.308bn (US$32.4m), compared to BDT3.089bn in the same period a year earlier. Net sales grew nine per cent to BDT16.987bn from BDT15.656... |
Shree Cement reports 67% profit drop17 October 2022, Published under Cement NewsShree Cement Ltd has reported standalone revenue of INR37,810m (US$458.8m) in the quarter ended 30 September, 2022. This compares to INR32,058m in the same period a year earlier, representing an 18 per cent YoY increase. However, net profit over the same period fell by 67 per cent from INR5777m to INR1896m. Total expenses in the September 2022 quarter came in at INR36,882m, notably up from the INR26,137m reported in the same period a year ago. Much of this advance was due to power and f... |
Adani in talks to acquire Jaiprakash cement unit10 October 2022, Published under Cement NewsAdani Group is in advanced talks to acquire the cement unit of Jaiprakash Power Ventures Ltd, part of Jaiprakash Associates Ltd, according to Mint. The group is expected to pay around INR50bn (US$607m) for a 2Mta grinding unit in Nigrie, Madhya Pradesh, along with other smaller assets. The deal will not only help lower debt for Jaiprakash Power Ventures Ltd but also solidify Adani’s place in the cement industry, having already acquired Ambuja Cements Ltd and ACC Ltd from Holcim fo... |