Cement News tagged under: indian subcontinent

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INSEE Cement extends biodiversity MoU with IUCN

08 November 2022, Published under Cement News

Sri Lanka’s largest cement producer, INSEE Cement , has entered into a Memorandum of Understanding (MoU) with the International Union for Conservation of Nature and Natural Resources (IUCN), according to The Colombo Post. The agreement will extend their long-standing partnership to continue INSEE’s  biodiversity projects for a further three years, from 2022 to 2025. The MoU was signed by Nandana Ekanayake, chairman and CEO of INSEE Cement, and Anshuman Saikia, coordinator of regional portfo...

The India Cements Ltd sees 8% advance in revenue

08 November 2022, Published under Cement News

The India Cements Ltd has reported consolidated revenue from operations of INR13,270m (US$161.5m) in the quarter ended 30 September 2022, compared to INR12,340m in the same period a year earlier, an increase of 7.5 per cent YoY. Profit over the same period fell from a gain of INR320m to a loss of INR1210m, reports Dow Jones Newswires. Basic earnings per share came in at -INR3.62 versus INR0.87 in the quarter ended 30 September 2021. Power and fuel costs over the same timeframe jumped from ...

Pakistan cement dispatches fall 19% in October

07 November 2022, Published under Cement News

Cement dispatches in Pakistan fell for the fourth month in a row in October, coming in at 4.25Mt, compared to 5.22Mt in October 2021, down 18.5 per cent. According to the All Pakistan Cement Manufacturers Association, local dispatches declined 15.5 per cent YoY from 4.6Mt in October 2021 to 3.89Mt in the same month this year. Exports fell by 40.7 per cent over the same period from 611,378t to 362,350t.  Cement mills based in the north of Pakistan dispatched 3.27Mt of cement in October thi...

Adani Enterprises posts three-fold rise in revenue

07 November 2022, Published under Cement News

Adani Enterprises Ltd has posted a three-fold rise in revenue in the second quarter of FY22-23. Revenue for the three-month period came in at INR387,150m (US$4694m), compared to INR132,180m in the 2QFY21-22. EBITDA over the same timeframe advanced by 69 per cent to INR21,360m, while profit after tax improved by 117 per cent to INR4610m, reports The Times of India.  Led by Asia’s richest person, Gautam Adani, the company has made inroads into the infrastructure and cement manufacturing se...

Fuel and power costs hit profits at JK Lakshmi Cement

07 November 2022, Published under Cement News

India-based JK Lakshmi Cement Ltd has reported consolidated revenue from operations of INR13,735m (US$166.9m) in the quarter ended 30 September 2022. This compares to INR16,541m in the previous quarter and INR12,088m in the same quarter a year earlier. EBITDA in the September 2022 quarter came in at INR1835m, versus INR2637m in the previous quarter and INR2116m in the same quarter in 2021. Net profit after tax fell from INR872m in the quarter ended 30 September 2021 to INR617.9m in the ...

Gujarat Sidhee Cement sees fall in revenue

04 November 2022, Published under Cement News

India’s Gujarat Sidhee Cement Ltd has reported unaudited revenue from operations of INR1422m (US$17.16m) in the quarter ended 30 September 2022, down from INR1663m in the same period a year earlier. Profit over the 2022 three-month period posted a loss of INR154m, compared to a loss of INR0.8m in the same quarter in 2021. Basic earnings per share over the 2022 quarter came in at -INR1.73, versus -INR0.01 in the comparable period in 2021.  In the half year ended 30 September 2022, revenu...

Sagar expects Andhra outcome before end of 2022

03 November 2022, Published under Cement News

Sagar Cements expects to announce the outcome of its bid to acquire Andhra Cements before the end of December 2022. Sagar currently has a production capacity of 8.25Mta but hopes to expand this to 10Mta by FY24-25. Andhra Cement would bring with it 1.8Mta of cement capacity and 1.65Mta of clinker capacity. According to a report in BusinessLine Online, Sagar Cements is fully prepared for the acquisition to go through. "We are fully funded from Andhra perspective. We took a INR500 odd cro...

Saurashtra Cement sees revenue decline 13% YoY

03 November 2022, Published under Cement News

India’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 3

28 October 2022, Published under Cement News

Fauji 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 track

28 October 2022, Published under Cement News

Lucky 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...