Cement News tagged under: Ambuja Cements
Ambuja cement 2Q15 profit declines 45%28 July 2015, Published under Cement NewsAmbuja Cements Ltd reported a 45 per cent drop in net profit for the quarter ended June on account of a lower operating profit and a INR220m (US$3.4m) depreciation charge. The company posted a net profit of INR2.2635bn compared with INR4.087bn in the year-ago period. Net sales for the April-June quarter were reported at INR24.9276bn, eight per cent lower from INR27.0635bn reported a year back. EBITDA fell 34.7 per cent to INR03.84bn. “The quarter witnessed muted cement demand. Sales volum... |
Government of India transfers environment clearance of 19 coal blocks23 June 2015, Published under Cement NewsThe government of India has so far transferred the environment clearance (EC) of 19 coal blocks out of a total of 29 approved mines from the previous allottees to new successful bidders including some cement producers. In a bid to expedite operations from the recently allocated coal mines, the Environment Ministry had amended EC norms after a request made by the Coal Ministry to facilitate the transfer of ECs to successful coal bidders. "We have so far transferred the ECs of 19 coal blocks... |
Better price realisations boost ACC and Ambuja’s third-quarter revenues31 October 2014, Published under Cement NewsHolcim’s Indian subsidiaries ACC and Ambuja Cements both reported higher revenues for the 3Q14, on the back of a recovery in prices, but sales volumes remained a concern. ACC, the country’s second-largest producer, saw revenue grew by 9.4 per cent to INR2742 crore, driven primarily by a better pricing environment. Operating EBTIDA rose 32 per cent to INR379.08 crore. Net profit was INR193 crore, up 62 per cent YoY. Sales volumes at 5.62Mt during the September quarter were only 1.4 per cent... |
India: Ambuja Cement launches Ambuja Plus20 October 2014, Published under Cement NewsAmbuja Cement has launched a new cement product, Ambuja Plus, in the state of Maharashtra, India. This innovative product is created with an advanced formula, offering additional strength than ordinary Portland cement, claims the company. Ambuja Plus is aimed mainly at small consumers or individual house builders. MD and CEO Ajay Kapur said: “Ambuja Plus is special quality PPC [Portland Pozzolan] cement with advanced SPE technology that makes concrete stronger and easier to work with. It i... |
Lafarge and Holcim to make portfolio decisions in India16 June 2014, Published under Cement NewsHolcim Ltd and Lafarge SA may sell some assets in India to clear the competition hurdle and are considering units in Rajasthan and Chhattisgarh where the two companies have common presence. Holcim operates in India through Ambuja Cements Ltd and ACC Ltd, and Lafarge through Lafarge India Pvt Ltd. Lafarge runs units in Chhattisgarh, Jharkhand, Rajasthan and West Bengal while ACC and Ambuja Cements own integrated plants in Rajasthan and Chhattisgarh, among other places. "In states where ... |
ACC and Ambuja post diverging results, India25 April 2014, Published under Cement NewsHolcim’s two Indian interests have posted contrasting results for the first quarter of 2014, with ACC’s profit down nine per cent while Ambuja Cement’s net climbs 6.6 per cent. Ambuja Cements reported a net profit of INR5.20bn (US$85.2m) for the first quarter ended March 31, compared with INR4.88bn a year earlier. Sales volume increased two per cent to 6.06Mt. Ambuja's net profit was helped after other income rose by 53.2 per cent to INR1.32bn from a year earlier, according to a company... |
Ambuja to invest internal funds for expansion16 April 2014, Published under Cement NewsAmbuja Cements, part of the Holcim group, plans to spend around INR8bn (US4133m) in 2014 from internal funds to partially finance its ongoing capacity expansion projects. "The year 2014 will see capital expenditure worth INR802 crore over and above INR725 crore investment made in 2013. The entire proposed expenditure will be financed by internal accruals," Ambuja Cements said in its annual report. The company, which has 27.25Mta of capacity, is setting up three greenfield plants, each w... |
Ambuja gets nod for merger with Holcim India27 March 2014, Published under Cement NewsThe High Courts of New Delhi and Gujarat have given Ambuja Cements the green light to merge with Holcim India – paving the way for the ACC-Ambuja restructuring process announced by the parent company in July last year. In a two stage deal, Ambuja will first acquire, through a purchase, a 24 per cent stake in Holcim India for a cash consideration of INR35,000m (US$~600m), followed by a stock merger between Holcim India and Ambuja. |
India: local tax on coal mines to hit cement firms24 March 2014, Published under Cement NewsIndia's coal ministry has tabled a proposal that cement, steel and sponge iron companies that have captive coal mines have an undue advantage, and this could be offset with a new tax. The rationale behind the coal ministry's proposed increase in taxes on cement and steel companies that own coal mines is that, while they are insulated from the market vagaries as far as this key input is concerned, their output prices are market determined, leading to an undue advantage. The exact amount of ... |
Ambuja to resume mining operations in Himachal Pradesh, India26 February 2014, Published under Cement NewsAmbuja Cements is set to resume mining operations in Himachal Pradesh after the High Court granted a stay on the Ministry of Environment and Forest’s (MoEF) suspension order which was issued at the beginning of February 2014. "...the High Court of Himachal Pradesh has granted a stay on the order issued by the Ministry of Environment and Forest and accordingly, mining operations at Himachal Pradesh plants would now be resumed," the Holcim group company said in a Bombay Stock Exchange filing.... |