Cement News tagged under: indian subcontinent
Sanghi Industries reports improved income YoY31 July 2024, Published under Cement NewsSanghi Industries Ltd has reported total income of INR2305.5m (US$27.5m) in the quarter ended 30 June 2024. This is up from INR1702m in the same period in the previous year but down from the INR2883.3m seen in the previous quarter. The loss before tax for the June 2024 quarter came in at -INR888.2m, marking an improvement on the -INR1894.3m reported in the same quarter in 2023, but down on the -INR190.2m loss seen in the quarter ending 31 March 2024. Basic earnings per share improved from ... |
ACC sees results dip YoY in June quarter30 July 2024, Published under Cement NewsIndia-based ACC Ltd has reported standalone total income of INR52,254m (US$623.9m) in the three months ended 30 June 2024. This compares to INR52,793m in the same period a year earlier. Profit before tax declined from INR6230m in the quarter ended 30 June 2023 to INR4925m in the same period in the following year, while profit after tax over the same time frame fell from INR4639m to INR3662m. Total expenses for the company stood at INR47,329m in the June 2024 quarter, up from INR46,56... |
Digvijay Cement reports financial results from 1H2430 July 2024, Published under Cement NewsDigvijay Cement has reported its revenue from ongoing operations for the period ended 30 June 2024 as INR1.76bn (US$21.1m). This represents an 8.3 per cent decrease from the corresponding period in the year previous where revenue was reported at INR1.9bn. The EBITDA of the company has also decreased in this period, from INR324m to INR237m, a 26.8 per cent decrease. “The performance during the quarter was sub-par due to severe heat, general elections led to a very subdued demand. P... |
Shiva Cement reveals plans for new 1Mta plant30 July 2024, Published under Cement NewsShiva Cement Ltd , part of JSW Cement , has announced plans to construct a 1Mta grinding plant in Odisha, India. The new facility will be set up with Bhushan Power and Steel Ltd (BPSL) on BPSL’s site at Sambalpur. According to Shiva, the plant is expected to be completed by the end of September 2025, subject to the relevant approvals, and represents a total investment of INR3800m (US$45.4m). |
UltraTech acquires additional stake in India Cements29 July 2024, Published under Cement NewsUltraTech Cement is acquiring a 32.72 per cent share in India Cements , marking an investment of INR39,540m (US$472.2m). According to The Hindu, the move enables Aditya Birla -owned UltraTech to expand its presence in the fast-growing southern India market, particularly Tamil Nadu. UltraTech has reportedly entered into a share purchase agreement for a 28.42 per cent stake from promoters – N Srinivasan, Chitra Srinivasan, Rupa Gurunath and S K Asokh Baalaje — and a 4.3 per cent share ... |
Cement Manufacturers' Association applauds 2024-25 budget26 July 2024, Published under Cement NewsThe Cement Manufacturers’ Association (CMA), the independent body of large cement producers in India that represents almost 75 per cent of the country’s total installed cement capacity, has applauded the Union Budget 2024-25. The budget, presented by the Finance Minister, Nirmala Sitharaman, on 23 July, set out a detailed plan for India’s economic growth with a strong emphasis on infrastructure development, employment generation and energy security. Speaking about the budget, Neeraj Akhou... |
Nepal’s cement and clinker export triple to NPR3.85bn24 July 2024, Published under Cement NewsCement and clinker exports from Nepal tripled to NPR3.85bn (US$28.7m) in FY23-24 when compared with exports in the previous year. According to Department of Customs data export earnings from cement were NPR1.97bn and those from clinker were NPR1.88bn. The surge has been attributed to the introduction of an eight per cent cash incentive on the export of mine-based products by the government. The Nepal Trade Integration Strategy (NTIS) 2023 identified cement as one of the potential export... |
Saurashtra Cement publishes increase in revenue24 July 2024, Published under Cement NewsSaurashtra Cement Ltd has reported consolidated revenue from operations of INR17.65bn (US$210m) in FY23-24 (ended 31 March 2024), up from INR16.45bn (seven per cent YoY). EBITDA for the year was INR1.2bn, compared to INR572m in FY22-23, reflecting a 77.1 per cent YoY increase. Net profit for the year before tax came in at INR565m, marking an 88 per cent YoY increase. Blended cement sales growth was higher than the overall sales growth and clinker production was up nine per cent than th... |
Road spending to boost Indian cement demand23 July 2024, Published under Cement NewsIndia’s cement companies are expected to benefit from a boost in road infrastructure spending. In her Budget 2024 speech, Nirmala Sitharaman, India’s Union Finance Minister announced an investment of INR260,000m (US$3106m) in highway development in Bihar. According to Mint, key projects includes the construction of a two-lane bridge over the Ganga and new highways such as the Patna-Purnea Expressway and Buxom-Bhagalpur Expressway. The news is expected to bring renewed cement demand, b... |
UltraTech sees sales increase in 1QFY24-2522 July 2024, Published under Cement NewsUltraTech Cement Ltd , part of Aditya Birla Group, has reported consolidated net sales of INR178,790m (US$2.14bn) in the first quarter of FY24-25 (ended 30 June 2024). This compares to INR175,190m in the same period a year earlier. Profit before interest, depreciation and tax fell from INR32,230m 1QFY24-25 to INR32,050m in the same period a year later, while profit after tax advanced slightly from INR16,880m to INR16,970m. According to the company, the quarter under review saw a six per... |