Cement News tagged under: indian subcontinent

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KHD signs package of contracts with UltraTech Cement

12 August 2022, Published under Cement News

Humboldt Wedag India Private Ltd, a subsidiary of KHD Humboldt Wedag International AG, has signed a package of contracts with UltraTech Cement Ltd. According to Dow Jones Newswires, the package includes two new pyroprocessing lines and eight clinker grinding units. One of these grinding units also has a slag grinding unit. The package, which includes the engineering and supply of equipment as well as supervision services related to erection and commissioning, is reportedly valued at over ...

Tokyo Cement Co (Lanka) sees 76% increase in 2Q revenues

11 August 2022, Published under Cement News

Tokyo Cement (Co) Lanka plc posted a 76 per cent YoY increase in revenues to LKR11,442m (US$31.8m) in the three months ended 30 June 2022 (2QFY22-23). In the equivalent quarter of the previous year revenues stood at LKR6503m. The company’s gross profit increased by 285 per cent YoY to LKR3299m in the 2QFY22-23 when compared with LKR856.6m in the year-ago period. Profit before interest and taxation was up 272 per cent YoY to LKR2256m from LKR606.3m. However, finance expenses of LKR2224m...

Sanghi Cement reports a loss as power costs soar

11 August 2022, Published under Cement News

Sanghi Cement has posted unaudited revenue of INR3391.4m (US$42.67m) in the quarter ended 30 June 2022, up from INR2819m in the same period a year earlier. Compared to a profit of INR223.2m in the quarter ended 30 June 2021, in the same quarter this year the company has reported a loss of -INR328.7m. While finance costs over the period have jumped from INR206.9m to INR445.2m, power and fuel costs have soared from INR921.2m to INR1928.6m. Selling expenses have also risen, as have depreci...

Deccan Cements posts fall in revenue for June quarter

11 August 2022, Published under Cement News

India’s Deccan Cements Ltd has reported unaudited revenue of INR1940.16m (US$24.4m) in the quarter ended 30 June 2022, compared to INR2242.36m in the same period a year earlier. Profit for the period came in at INR206.77m, down from the INR368.33m seen in the same quarter in 2021. Like so many companies, Deccan Cements has seen its power and fuel costs surge, rising from INR572.41m in the quarter ended 30 June 2021, to INR711.39m in the same period this year. However, freight charges ov...

Sagar Cements to submit acquisition plan for Andhra Cements

11 August 2022, Published under Cement News

Sagar Cements will submit a resolution plan for its acquisition of Andhra Cements before 18 August 2022. According to The BusinessLine, the company hopes to receive the necessary clearances by October this year but also expects to require around three months for maintenance works at Andhra Cement’s plants in Dachepalle and Visakhapatnam. Although Sagar Cements claims it cannot reveal more information at this stage, the deal is believed to be worth around INR14,000m (US$176m). Sagar Cement...

Mangalam Cement reports 43% uptick in income in 1QFY23

09 August 2022, Published under Cement News

Mangalam Cement has reported a 42.9 per cent YoY increase in total income to INR5181.7m (US$65.13m) in the 1QFY23, compared to INR3625.1m in the same quarter a year earlier. Over the same period, net profit declined by 19.8 per cent to INR28.1m, while earnings per share fell 19.8 per cent to INR10.22, compared to INR12.75 in the 1QFY22. Compared QoQ rather than annually, the company’s total income advanced by 12.7 per cent in the 1QFY23 versus the 4QFY22. Over the same period, net profi...

Birla Corporation hit by escalating fuel costs

08 August 2022, Published under Cement News

Birla Corp Ltd has reported a 25.2 per cent increase in revenue to INR22,180.6m (US$278.8m) in the first quarter of FY22-23, despite tepid cement demand. However, profitability was hit by rising power, fuel and freight costs, along with the costs incurred with the optimisation of the newly-commissioned Mukutban plant in eastern Maharashtra. Commercial production at the plant began on 30 April 2022 with capacity at the unit expected to reach 3.9Mta, taking the company's total production cap...

Star Cement 1Q net profit drops 24%

03 August 2022, Published under Cement News

India-based Star Cement has seen its net profit decline by 23.7 per cent YoY to INR413.2m (US$5.23m) in the first quarter of FY22-23 (ended 30 June 2022) when compared with a net profit of INR541.8m in the year-ago period. Net revenue increased by 28.7 per cent to INR6.393bn in the 1QFY22-23 from INR5.044bn in the 1QFY21-22. Operating expenses were up by 32.7 per cent YoY to INR5.721bn in the 1QFY22-23. Other income advanced y 32 per cent YoY to INR83.4m. Operating profit edged up by 5...

Dewan Cement appoints new CEO and director

25 July 2022, Published under Cement News

Pakistani cement producer Dewan Cement Ltd informed Pakistan Stock Exchange that Ishtiaq Ahmed and Waseem-ul-Haque Ansari have been appointed as CEO and director of the company, respectively. The appointments are effective of 15 July 2022 and replace Malik Bilal Omar.

HeidelbergCement India sees revenue increase

20 July 2022, Published under Cement News

HeidelbergCement India has posted revenue of INR6001.5m (US$75.1m) in the quarter ended 30 June 2022, compared to INR5664.5m in the same quarter a year earlier. Profit over the same period has contracted from INR686.5m to INR516.1m. Expenses came in at INR5308.4m in the quarter ended 30 June 2022, up from INR4626m in the same quarter in the year-ago period. Power and fuel costs have risen over the same period from INR1345.9m to INR2103.4m.