Cement News tagged under: indian subcontinent

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High cost impacts Pakistan cement export in 3MFY22 

24 October 2022, Published under Cement News

According 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 9M22

21 October 2022, Published under Cement News

LafargeHolcim 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 drop

17 October 2022, Published under Cement News

Shree 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 unit

10 October 2022, Published under Cement News

Adani 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...

Adani Group to invest US$848m in Rajasthan cement

10 October 2022, Published under Cement News

India’s Adani Group has revealed plans to spend INR70bn (US$848m) doubling the group’s cement production capacity in the northern state of Rajasthan. This follows an announcement by the company to invest INR650bn (US$7.9bn) in the state over the next 5-7 years. Along with cement production, investments are planned in the renewables business, airport expansion, and networks to deliver piped natural gas (PNG) and compressed natural gas (CNG), reports Reuters. Just a few weeks ago, Gautam ...

Fecto Cement reports 37% revenue growth

10 October 2022, Published under Cement News

Fecto Cement ’s net sales revenue in the 2022 financial year came in at PKR6775m (US$30.8m), compared to PKR4961m in the previous year, marking a YoY increase of 36.56 per cent. Over the same period, net local sales revenue advanced to PKR6602m, versus PKR4653m, representing YoY growth of 41.89 per cent, against an increase in gross sales revenue of 33.5 per cent and local sales volume growth of 1.44 per cent. According to the company, this growth was achieved through improved retention ...

Thatta Cement dispatches up 68% YoY

07 October 2022, Published under Cement News

Pakistan's Thatta Cement has reported net sales of PKR4.26bn (US$19.3m) in the 2022 financial year (ended 30 June, 2022), compared to PKR2.43bn in the previous year. Gross profit came in at PKR320m, down on the PKR384m seen in 2021, while profit for the year was PKR119.3m in 2022, versus PKR201.8m in 2021. According to the company, 2022 saw a better performance despite tough market conditions and significant uncertainties due to political instability and the Russian-Ukraine war. Other ...

India Cements in talks to sell Madhya Pradesh project

04 October 2022, Published under Cement News

India Cements is reportedly in talks with a number of companies over the sale of its project in Madhya Pradesh. India Cements had planned to set up a 3Mta integrated cement plant on the site but is now looking to sell the site to reduce its long-term debt, reports The Hindu. The project with its limestone mine is valued at around INR8000m (US$97.8m). Among the companies vying for the project are UltraTech Cement , JSW Cement , Birla Group and Adani Group . May 2022 saw India Ceme...

JSW Cement secures funds for expansion plans

03 October 2022, Published under Cement News

JSW Cement has secured a INR4000m (US$48.9m) sustainability-linked loan from MUFG Bank India to finance the company’s cement capacity expansion plans, according to The Economic Times. JSW aims to increase capacity from its existing 17Mta to around 25Mta by FY24-25. This marks the third time JSW has sought funds in the last 15 months, have previously raised INR1000m from the State Bank of India in December 2021 and INR15,000m from Apollo Global and Synergy Metals Investments in July 2021.

Birla plans US$1bn investment in new capacity

30 September 2022, Published under Cement News

Birla Corp is planning to invest around US$1bn to increase cement production capacity from 20Mta to 30Mta over the next eight years. According to Harsh V Lodha, chairman of Birla Corporation, the capacity additions will be the result of greenfield and brownfield projects as well as debottlenecking exercises across its entire portfolio, reports The Hindu. The company is reportedly considering a new 4Mta integrated greenfield plant in Chhattishgarh, along with a further 4Mta through a bro...