Cement News tagged under: Crown Cement
Crown Cements' profit plunged in July-September 202414 November 2024, Published under Cement NewsCrown Cement's profit dropped 89 per cent YoY in July-September 2024 to BDT37.7m (US$0.315m) from BDT345m in the same quarter a year ago. Total sales revenue during this period reduced to BDT7bn from BDT7.12bn, primarily due to the lower demand for cement in Bangladesh. According to the company’s public announcement, sales revenue decreased by 1.74 per cent due to a 2.5 per cent decrease in sales volume resulting from low market demand during the rainy season and political instability f... |
Crown Cement's net profits rise 649% in 1HFY23-2416 February 2024, Published under Cement NewsCrown Cement PLC , one of Bangladesh’s leading cement manufacturers, recently uploaded its financial results on the Dhaka Stock Exchange (DSX). The company witnessed a hefty surge in profit between July and December 2023 due to higher sales and other income from the shipping business. It earned a profit of BDT706.18m (US$6.436m) compared to BDT94.28m in July-December 2022, a YoY increase of 649 per cent. The company also attributed the expansion in profit to the rise in prices of cement bag... |
Crown Cement kicks start its sixth unit in Bangladesh16 January 2024, Published under Cement NewsMd Mozharul Islam, senior general manager and company secretary of Crown Cement, has announced that the company was able to finally start commercial production of its sixth unit earlier this month after deferring it several times. The announcement says that commercial production of the sixth unit of Crown Cement PLC, with a production capacity of 8280tpd installed at its factory premises in West Mukterpur, Munshiganj , will commence in January 2024 instead of its previous probable sch... |
Bangladesh's foreign and local cement firms report mixed financial results in 1QFY2415 December 2023, Published under Cement NewsThe Bangladesh foreign and local cement firms listed at the Dhaka Stock Exchange (DSX) improved their earnings in the July-September quarter of FY23-24, overcoming challenges stemming from rising energy costs and the depreciation of the taka currency against the dollar during this accounting period. According to local media, the cement makers partially offset additional costs by boosting sales prices and taking advantage of the recent reduction in raw materials prices in the global market. ... |
Crown Cement posts profit of BDT343m in 1QFY23-2417 November 2023, Published under Cement NewsCrown Cement Plc of Bangladesh announced its financial results for the 1QFY23-24. The company reported a profit after taxation of BDT343m (US$3.09m) between July and September 2023 against a loss of BDT53m during the same period last year. The remarkable recovery in the 1QFY23-24 was due to sales growth and a price increase of 10.56 per cent compared to the previous year's first quarter, said the company. Crown Cement's net sales increased to BDT6.21bn from BDT5.07bn. Similarly, the cost ... |
Bangladesh cement producers switch to VRMs and roller presses31 August 2023, Published under Cement NewsBangladesh cement manufacturers are replacing their traditional ball mills (TBMs) with sophisticated vertical roller mill (VRM) and roller press (RP) equipment, reports the Daily Star. Although VRM and RP-based manufacturing lines are three times costlier than the traditional ones, advanced technologies can help sustain businesses in the long run. Nine large companies - Shah Cement , Bashundhara Cement , Fresh Cement, Premier Cement Mills , Seven Rings , Crown Cement , LafargeHolcim ,... |
Crown Cement to purchase Matarbari fly ash21 August 2023, Published under Cement NewsBangladesh-based Crown Cement plc will buy fly ash from the Matarbari 2x600MW ultra supercritical coal-fired power plant as raw material for cement production, according to the Daily Star. The company is expected to sign a joint venture agreement with the power plant, according to Md Mozharul Islam, Crown Cement’s company secretary. The fly ash supply will enable Crown Cement to be less reliant on imported fly ash and reduce transport costs. |
BCMA calls on government to lower customs duty on clinker14 June 2023, Published under Cement NewsThe Bangladesh Cement Manufacturers Association (BCMA) has urged the country’s government to reduce the customs duty on clinker. Cement producers are currently required to pay a duty of BDT500/t (US$4.61/t) on imported clinker. The government has proposed to increase this to BDT700 in its budget for the next fiscal year. Alamgir Kabir, president of the BCMA, says the association has been campaigning for a reduction in the customs duty for some time now, in the hope of lowering it from BDT5... |
Crown Cement secures loan for 6th line02 June 2023, Published under Cement NewsCrown Cement Plc has secured a syndicated loan facility for the construction of the sixth cement line at its plant in West Mukterpur, Munshiganj , Bangladesh. The new line will have a state-of-the-art VRM mill with the plant’s total production capacity expected to reach 19,000tpd. According to The Business Standard, the loan for BDT2500m (US$23.3m) involves a consortium of banks, including Eastern Bank Ltd, State Bank of India, Bank Asia Ltd and Dhaka Bank Ltd. “The milestone deal wi... |
Crown Cement commences construction of its 6th line09 December 2022, Published under Cement NewsCrown Cement PLC (formerly MI Cement Factory Ltd) has announced the commencement of construction work on its sixth line at the existing factory premises at West Mukterpur, Munshiganj, Bangladesh, with a capacity of 8000tpd to increase the overall capacity of the company from 11,000tpd to 19,000tpd. The investment amounts to BDT7.07bn (US$8.6m), according to the latest annual report 2021-22, released last week. No timeframe for the new line’s completion was reported. Chairman of the co... |