Cement News tagged under: indian subcontinent

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Sanghi Industries reports loss of income in June quarter

15 August 2023, Published under Cement News

Sanghi Industries Ltd has posted total income of INR1702m (US$20.46m) in the quarter ended 30 June 2023. This compares to INR2270m in the previous quarter and INR3448.5m in the same quarter in 2022. The company has reported a loss of INR1894.3m in the April-June 2023 quarter, compared to an INR328.7m loss in the same period in the previous year. Expenses over the same timeframe have declined slightly from INR3887.8m to INR3596.3m, with power and fuel costs falling from INR1928.6m in the...

Grasim Industries sees revenue improve 11%

11 August 2023, Published under Cement News

Grasim Industries, which owns UltraTech Cement , has reported revenue of INR310,650m (US$3753m) in the quarter ended 30 June 2023, marking an 11 per cent improvement YoY. Net profit over the same period declined seven per cent to INR25,760m due to higher operational costs and lower realisation. The company has recently launched Birla Pivot, a full-scale B2B e-commerce platform for building materials in Maharashtra, Madhya Pradesh and Delhi. According to Grasim, the platform will ensure o...

Burnpur Cement profits hit by higher costs

10 August 2023, Published under Cement News

India-based Burnpur Cement Ltd has reported total income from operations of INR497.2m (US$6m) in the quarter ended 30 June 2023. This compares to INR469.7m in the previous quarter and INR312.9m in the same quarter a year earlier. The company recorded a loss from continuing operations of INR183.5m in the June 2023 quarter, versus a loss of INR118.9m in the previous quarter, and INR179.2m seen in the quarter ended 30 June 2022. In terms of expenses, these have risen from INR491.4m in the...

Mangalam Cement reports fall in revenue

09 August 2023, Published under Cement News

Mangalam Cement Ltd , part of BK Birla Group, has reported revenue from operations of INR4205.3m (US$50.8m) in the quarter ended 30 June 2023. This compares to INR4593.3m in the previous quarter and INR5138m in the same quarter a year earlier. Net profit in the June 2023 quarter came in at INR83.6m, up from the INR42.8m recorded in the previous quarter, but down from the INR158.8m seen in the quarter ended 30 June 2022. Basic and diluted earnings per share fell from INR10.22 in the June ...

Adani Group updates expansion plans following SIL acquisition

04 August 2023, Published under Cement News

The Adani Group has provided an update on its plans following the announcement of its acquisition of a majority stake in Sanghi Industries Ltd (SIL). According to The Telegraph, the group plans to expand the captive port capacity of Sanghipuram to accommodate vessels of 8000dwt. Sanghi Cement runs a 6.1Mta plant at Sanghipuram which is connected to a captive jetty at Sanghipuram. The plan is to depend and expand the port’s capacity to handle larger vessels, along with the creation of bulk ...

Orient Cement reports profit dip in June quarter

03 August 2023, Published under Cement News

Orient Cement Ltd , part of the CK Birla Group , has reported revenue from operations of INR8251.8m (US$99.8m) in the quarter ended 30 June 2023, up from INR7139.3m in the same period a year earlier. Net profit for the three-month period came in at INR370.3m, down slightly on the INR374.1m seen in the June quarter of 2022. Total expenses over the same timeframe advanced from INR6560.5m to INR7723.9m, driven primarily by cost of materials consumed, and power and fuel. Earnings per share ...

Ambuja Cements to acquire Sanghi Industries

02 August 2023, Published under Cement News

Ambuja Cements , part of the Adani Group , has agreed to acquire a majority stake in Sanghi Industries , reports Reuters News. According to sources close to the transaction, the deal is expected to be officially announced today. Sanghi Industries is one of the leading cement producers in the Indian state of Gujarat and currently runs 6.1Mta of cement production capacity. The exact share of the stake and the value of the deal is not yet known.  In the quarter ended 30 June 2023, Ambu...

UltraTech commissions 1.2Mta Magdella expansion

02 August 2023, Published under Cement News

UltraTech Cement has commissioned its 1.2Mta brownfield capacity expansion at Magdella , Gujarat. The project takes the plant’s total cement capacity to 1.93Mta. According to the company, UltraTech's total grey cement production capacity in India now stands at 132.45Mta. 

Cement exports from Nepal pick up

26 July 2023, Published under Cement News

Nepal exported cement representing a value of NPR779.3m (US$5.9m) in the FY22-23, supported by the government’s provision of a cash subsidy on cement exports. The country’s government provided up to eight per cent cash subsidy in addition to 2-15 per cent subsidy on electricity costs. Three domestic cement producers – Palpa Cement Industries Pvt Ltd , Arghakhachi Cement Ltd and Balaji Cement Industries –  exported more than 1.04Mt of cement to India in the FY22-23, including 607,073t ...

Orient Cement enters agreement to acquire stake in Ardeur Renewables

25 July 2023, Published under Cement News

India-based Orient Cement has entered into a share subscription and shareholders’ agreement with Ardeur Renewables and Cleantech Solar India on 21 July 2023 for the acquisition of a 28.52 per cent stake in Ardeur Renewables’ share capital. It will build two solar power plants with a capacity of 16MWdc in Karnataka and 5.5MWdc in Maharashtra under the Captive Scheme. With the INR95m acquisition, Orient Cement expects to meet its green energy requirement, optimise its energy cost and compl...