Cement News tagged under: indian subcontinent

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Power Cement reports 82% YoY rise in 1H net profit

02 March 2022, Published under Cement News

Power Cement posted a 43.6 per cent increase in revenues to PKR5162m (US$29.1m) in the quarter ended 31 December 2021 (2QFY21-22), up from PKR3595m m in the 2QFY20-21. Operating profit saw a 37.3 per cent hike to PKR961m in the 2QFY21-22 from PKR700m in the equivalent period of the previous year. Net profit  advanced 96.7 per cent YoY to PKR471m in the 2QFY21-22 from PKR239.4m. Half-year results In the half year ended 31 December 2021, Power Cement saw its revenues increase by 35.7 pe...

Dewan Cement returns to profit in 2QFY21-22

01 March 2022, Published under Cement News

Pakistan-based Dewan Cement Ltd posted a turnover of PKR4149.6m (US$23.4m) in the quarter ended 31 December 2021 (2QFY21-22), up from PKR931.6m in the 2QFY20-21. In the 2QFY21-22, the company achieved an operating profit of PKR68.8m, an improvement when compared with the PKR334.5m loss in the 2QFY20-21. Net profit reached PKR130.7m, up from a loss of PKR266.6m in the equivalent period of the previous year.

India’s National Green Tribunal halts environmental clearances for Babarkot limestone mining

28 February 2022, Published under Cement News

The National Green Tribunal (NGT) in India has stopped environmental clearances for two limestone mining sites in Babarkat village, Jafrabad, Amreli. The step results in a significant delay for UltraTech Cement Ltd , which is part of the Aditya Birla Group .   The special bench of NGT ruled that the project fell under category A and was beyond the purview of the State Environment Impact Assessment Authority (SEIAA) to award environment clearances.The said mines dropped under cluster minin...

COVID-19 in southern Bhutan leads to cement shortage in Thimpu

18 February 2022, Published under Cement News

Builders in Thimphu are reporting cement shortages as cement agents in the town have depleted their stocks. Cement is currently stuck at the cement plants of Penden Cement Authority Ltd and Dungsam Cement Corp Ltd as the southern towns of Phuentsholing and Samtse are under COVID-19 lockdown and there is a further outbreak of the illness in Nglanglam, making transportation of cement impossible. In addition, cement distributors’ trucks are stranded at Dungsam Cement Corp Ltd as drivers h...

Private sector supports corruption case against Nepalese cement sector

02 February 2022, Published under Cement News

Three umbrella organisations representing the private sector have protested against the corruption case filed by the Commission for the Investigation of Abuse of Authority (CIAA) against the cement industry . They have complained that CIAA’s move discouraged the entire private sector. The Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Nepal Chamber of Commerce  issued a joint statement Monday defending the industrialists and cement comp...

Orient Cement sees 3Q profit fall by 19% YoY

01 February 2022, Published under Cement News

CK Birla-owned Orient Cement reported an 18.9 per cent decline in net profit to INR436.7m (US$5.84m) for the third quarter, ended 31 December 2021. In the equivalent quarter of 2020, the company had posted a net profit of INR538.8m, said the company in a filing to the Bombay Stock Exchange (BSE). Orient Cement’s revenue in the 3QFY21-22 edged up 2.1 per cent to INR6.175bn, compared with INR6.046bn in 3QFY20-21. Total expenses increased by 4.6 per cent to INR5.526bn in the 3QFY21-22 fro...

Ramco Cements to commission Kurnool clinker plant in February

26 January 2022, Published under Cement News

Ramco Cements Ltd is expected to bring online its 2.25Mta clinker plant in Kurnool, India, in February. The 1Mta cement grinding unit, 12MW waste heat recovery system and 18MW thermal power plant are scheduled to be commissioned in FY2022-23. Its RR Nagar plant project, which will see a new energy-efficient 3000tpd kiln, is likely to be commissioned in FY2023-24. The modernisation project represents and investment of INR4.76bn (US$63.6m).

Ramco Cements sees 59% fall in 3Q net profit

25 January 2022, Published under Cement News

India-based Ramco Cements Ltd reported a 59 per cent decrease in standalone profit after tax at INR830m for the quarter ended 31 December 2021 (3QFY21-22). In the 3QFY20-21 standalone profit after tax was INR2.01bn. Net revenues for the 3QFY21-22 expanded 16 per cent YoY to INR15.56bn from INR13.45bn in the 3QFY20-21, as cement sales volumes increased 15 per cent to 3.01Mt from 2.61Mt in the year-ago period. But the company said demand was weak due to a range of factors such as the monsoo...

India is looking at recovery

10 January 2022, Published under Cement News

India’s higher cement demand and production growth rates appear to be decelerating as the effects of a low comparison base began to wane towards the end of the 2QFY21-22. On the cost-front, headwinds continue to impact producer margins, giving rise to potential cement price increases to mitigate pressures. Cement producers in India saw a surge in cement demand in the 2QFY21-22 but capacity utilisation rates are not expected to surpass the 60 per cent mark for the rest of the year ...

Orient Cement sees start-up of new solar plant

30 December 2021, Published under Cement News

India-based Orient Cement will receive 50 per cent of its annual energy needs at its Maharashtra cement plant thanks to the start-up of a new solar plant. The 13.5MW solar power project was commissioned by Amp Energy India, who operates an open-access facility in Gurgaon village, Osmanabad district. Orient Cement has signed a power purchase agreement with Amp Energy India for the purchase of solar power for 25 years. The cement producer is expected to significantly reduce its energy bills ...