Cement News tagged under: Dalmia Bharat
Dalmia Bharat posts 24% YoY increase in net profit07 August 2020, Published under Cement NewsIndia’s Dalmia Bharat has reported a 23.7 per cent YoY rise in consolidated net profit to INR1.88bn (US$25.08m) for the quarter ending June 2020, compared with 1.52bn in the year-ago period. However, revenue from operations declined 22.2 per cent to INR19.74bn from INR25.37bn. "Despite the challenges posed by COVID-19, the company once again delivered a strong performance and achieved an EBITDA of INR1675/t during this quarter," said the company. "The same is the highest ever EBITDA achie... |
Dalmia Bharat posts 4Q net profit of INR240m16 June 2020, Published under Cement NewsDalmia Bharat reported a consolidated net profit of INR240m (US$3.2m) for the fourth quarter ended 31 March 2020. The company posted a net profit of INR2.63bn in the January-March quarter of the previous financial year, the company said in a regulatory filing. However, it cautioned against comparison of the latest results with the previous period as it has shifted to AS 116 standards from 1 April 2019. Dalmia Bharat’s revenues from operations was INR24.93bn in the 4QFY19-20, down from IN... |
Dalmia Bharat suspends entire manufacturing capacity30 March 2020, Published under Cement NewsIndia’s Dalmia Bharat has suspended its entire 26.5Mta of cement manufacturing capacity as a result of the coronavirus, according to a press release. "We are continuously monitoring the situation and the immediate task is to ensure that the chain of transmission of COVID-19 breaks. We will decide to restart production once the lockdown is over, based on the directions of the state and central governments," said Mahendra Singhi, managing director and CEO. Although the plants have the requ... |
Dalmia Bharat announces share buy-back scheme24 March 2020, Published under Cement NewsThe board of India’s Dalmia Bharat Ltd has approved a proposal to buy back shares worth up to INR5bn (US$65.79m). It intends to buy no more than 71,42,857 shares at a maximum price of INR700 per unit. The shares will be purchased from the open market through the National Stock Exchange of India and BSE Ltd, according to a statement. |
Dalmia Bharat reports 192% increase in net profit02 August 2019, Published under Cement NewsIndia’s Dalmia Bharat Ltd has reported a 192.3 per cent YoY increase in consolidated net profit for the quarter ending 30 June, rising to INR1.52bn (US$21.82m) from INR520m. EBITDA was up 27.3 per cent to INR6.66bn from INR5.23bn. Total revenue advanced 7.1 per cent to INR25.81bn, compared with INR24.11bn in the 1QFY18-19. Cement sales volumes were fairly consistent with the year-ago period at 4.55Mt from 4.51Mt, with the flat YoY growth attributed to general elections spanning the first t... |
Dalmia Bharat looks to expand into northern India26 November 2018, Published under Cement NewsIndia’s Dalmia Bharat has reportedly secured mining rights near Chittorgarh, Rajasthan, and could be planning to construct a 4Mta plant over two phases in the area, according to the Business Standard. The move would mark the company’s entry into the northern market, a region abundant with natural resources. Rajasthan has an estimated limestone reserve of 21,659mt, 12 per cent of the country’s total. It also follows the company’s unsuccessful attempt to acquire Binani Cement, which would ha... |
UltraTech's bid for Binani approved by NCLAT14 November 2018, Published under Cement NewsA bid submitted by India’s UltraTech Cement to acquire Binani Cement has received approval from the National Company Law Appellate Tribunal (NCLAT). A two-member bench of NCLAT, headed by Chairman Justice S J Mukhopadhaya, approved the company’s resolution plan and said that the plan submitted by Dalmia Bharat’s Rajputana Properties was “discriminatory” against some financial creditors, according to the Press Trust of India. |
Indian cement sector receives new investment04 June 2018, Published under Cement NewsThe Indian cement sector is receiving fresh investment as capacity utilisation rates increase, with at least six companies at various stages of announcing or implementing expansion plans, according to the Business Standard. Dalmia Bharat has recently announced plans for 8Mta of new capacity in Odisha, eastern India, at an investment cost of INR37.2bn (US$554.7m). "Looking at the demand for our premium products, we decided to add capacity and strengthen our leadership in east India. For... |
Dalmia Bharat-led bid approved by lenders09 March 2018, Published under Cement NewsLenders to the bankrupt Binani Cement have decided that a a Dalmia Bharat-led bid would be allowed, thereby overruling the objections of UltraTech Cement. The offer fulfilled all of the conditions and hence there is no reason to block it, reports a source for The Economic Times. At a meeting held in Mumbai on Wednesday, the lenders involved decided to seek the approval of their respective boards on the Dalmia-Bain bid, where it was also revealed that Dalmia had received CCI approval for t... |
UltraTech seeks clarity on Binani Cement bidding process07 March 2018, Published under Cement NewsUltraTech has approached the National Company Law Tribunal (NCLT) in Kolkata, seeking clarity on the evaluation of bids for Binani Cement, according to India Info Online. Dalmia Bharat outbid the company by approximately INR1bn (US$15.39m) to eventually win the assets. However, it has been reported that parameters such as the company’s background, experience and ability to pay upfront cash to secured lenders were taken into account. Binani Industries (BIL) has also petitioned the NCLT, cl... |