Cement News tagged under: indian subcontinent
Shree Cement commits to two new plants22 February 2024, Published under Cement NewsShree Cement is committing INR20,000m (US$241.16m) to two new cement plants in India’s Uttar Pradesh, expanding its cement production capacity in the region by almost 7Mta. The first plant will be located in Etah with a 3.5Mta cement capacity. Shree Cement has already bought the land for the project and construction of the new facility is underway. The plant is due to be operational within the next 12 months, according to the company. A second 3.5Mta plant will be constructed in Pray... |
Saurashtra Cement sees upturn in income13 February 2024, Published under Cement NewsSaurashtra Cement has posted total income of INR4508m (US$54.34m) in the quarter ended 31 December 2023. This compares to INR3781m in the previous quarter and INR4465m in the same quarter a year earlier. Net profit in the December 2023 quarter came in at INR125m, up notably from the INR7.9m seen in the previous quarter and the INR28.5m loss recorded in the quarter ended 31 December 2022. Total expenses have declined from INR4470m in the December 2022 quarter to INR4156m in the same quar... |
The Ramco Cements announces expansion plans12 February 2024, Published under Cement NewsThe Ramco Cements Ltd has announced plans to double capacity at its Kalavatala plant in Andhra Pradesh, India. According to The Hindu, the company intends to set up a second line to increase clinker capacity at the works to 6.3Mta and cement capacity to 3Mta. The expansion is expected to cost INR12,500m (US$150.57m). An additional 15MW waste heat recovery system (WHRS) will also be added. The new line is scheduled to be commissioned in FY25-26 and will take the company’s total production... |
Burnpur Cement sees income decline YoY12 February 2024, Published under Cement NewsBurnpur Cement Ltd has reported total income from operations of INR407.4m (US$4.9m) in the quarter ended 31 December 2023. This comes to INR433.9m in the previous quarter and INR349.3m in the quarter ended 31 December 2022. The company recorded a loss from continuing operations of INR451.5m for the December 2023 quarter, up from a loss of INR191.5m in the previous quarter and INR207.6m in the quarter ended 31 December 2022. Basic earnings per share declined from a loss of INR2.41 in the q... |
Birla Corp records 15% YoY revenue growth08 February 2024, Published under Cement NewsBirla Corp has reported revenue of INR23,120m (US$278.6m) in the 3QFY23-24. This compares to INR20,161m in the same quarter a year earlier, marking a 14.7 per cent YoY advance. Consolidated net profit in the 3QFY23-24 came in at INR1091.4m, versus a net loss of INR499.1m in the 3QFY22-23, according to BusinessLine Online. The company saw cement sales of 4.2Mt in the 3QFY23-24, up 13.2 per cent YoY, along with a capacity utilisation rate of 85 per cent over the three-month period. This... |
India's CMA welcomes Interim Budget 2024-2507 February 2024, Published under Cement NewsIndia’s cement producers have applauded the country’s government for its sustained focus on infrastructure development in its latest Interim Budget 2024-25. Under the budget plan, investment in infrastructure will increase by 11.1 per cent YoY in 2024-25, equivalent to 3.4 per cent of GDP. Three major economic railway corridor programmes, namely the energy, mineral and cement corridor, as well as the port connectivity corridor and high traffic density corridor, are to be implemented t... |
Orient Cement sees net profit jump 64% YoY06 February 2024, Published under Cement NewsIndia's Orient Cement , part of the CK Birla Group , has reported revenue from operations of INR7513m (US$90.45m) in the quarter ended 31 December 2023 (3QFY23-24). This marks a 2.6 per cent increase on the INR7322.9m seen in the same period a year earlier. Over the same timeframe, consolidated net profit advanced to INR449.9m, up 63.5 per cent from the INR275.1m recorded in the 3QFY22-23. Total expenses, meanwhile, declined one per cent to INR6814.4m over the same period. Total income... |
Nuvoco Vistas EBITDA up 55% in 3QFY2402 February 2024, Published under Cement NewsIndia-based Nuvoco Vistas Corp Ltd has reported consolidated revenue of INR24,210m (US$291.8m) in the 3QFY23-24, ended 31 December 2023. Consolidated EBITDA over the same period came in at INR4210m, up 55 per cent YoY, while the consolidated cement sales volume for the quarter stood at 4.02Mt. The company has recently commissioned a 1.2Mta mill at its Haryana cement plant, taking the producer’s overall cement capacity to 25Mta. This latest expansion will boost the company’s productio... |
Udaipur Cement Works reports strong income02 February 2024, Published under Cement NewsUdaipur Cement Works Ltd has reported total income of INR3003.3m (US$36.17m) in the quarter ended 31 December 2023. This compares to INR2695.2m in the previous quarter and INR2385.1m in the quarter ended 31 December 2022. In the nine months ended 31 December 2023, total income came in at INR8163.2m, up from the INR7374.2m seen in the same period a year earlier. Profit after tax in the December 2023 quarter stood at INR252.6m, up significantly from the INR121.5m seen in the previous qu... |
Nuvoco sees 55% increase in 3Q EBITDA01 February 2024, Published under Cement NewsNuvoco Vistas Corp saw consolidated cement sales volume fall by 10 per cent YoY to 4Mt in the 3QFY23-24 (October-December 2023). The company also reported a seven per cent drop in revenue to INR24.21bn (US$291.6m). However, EBITDA expanded by 55 per cent YoY in the 3QFY23-24 to INR4.21bn, supported by improved price realisations and a decline in power and fuel costs. EBITDA/t of INR1048 was the highest in the last 10 quarters, according to a company presentation. Raw material costs for... |