Cement News tagged under: India
Adani Group refutes allegations of fraud21 November 2024, Published under Cement NewsAdani Group has strongly refuted the allegations made by the US Department of Justice and the US Securities and Exchange Commission against its chairman Gautam Adani, and other executives, in connection with a multibillion-dollar fraud scheme. US authorities allege that Gautam Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about US$265m in bribes to Indian government officials to obtain contracts expected to yield US$2bn of profit over 20 years, and deve... |
UltraTech Cement scales up EV transport operations19 November 2024, Published under Cement NewsUltraTech Cement Ltd, India's largest cement and ready-mix concrete company, has announced that it is scaling up the use of Electric Vehicles (EV trucks) for movement of material and products in its logistics operations. The company has signed a new transport service contract for deployment of about 100 electric vehicles (EV Trucks) for the transportation of 75,000t of clinker per month from its integrated cement manufacturing unit Dhar Cement Works , located in Madhya Pradesh, to its gri... |
Ramco Cements posts financial results for 2QFY24-2514 November 2024, Published under Cement NewsRamco Cements Ltd (India) has shared financial results for the 2QFY24-35, highlighting that the company is on track to achieve its asset monetisation target as previously committed. The company has stated that the 2QFY24-25 results exceeded expectations. Sales were reported at INR20.4bn (US$242.1m) for the quarter, down 2.4 per cent from the 1QFY14-25, and down 12.7 per cent from INR23.4bn the same period in the previous year. The company has reported sales volumes of 4.5Mt for the quar... |
Orient Cement reports 24% drop in 2Q income13 November 2024, Published under Cement NewsOrient Cement Ltd , based in Bhubaneswar, India, and part of Ambuja Cements Ltd , reported a total income of INR5476m in the quarter ended 30 September 2024 (2QFY24-25), down 24.2 per cent from INR7222.4m in the year-ago period. Profit before tax saw a 19.9 per cent YoY drop to INR5444.8m in the 2QFY24-25 from INR6798.2m. The company posted a net profit of INR23.2m in the 2QFY24-25, showing a 93.6 per cent fall from INR367.1m in the 2QFY23-24. 6MFY24-25 In the first six months of FY24... |
UltraTech Cement partners with UCLA on zero carbon lime Technology Pilot08 November 2024, Published under Cement NewsUltraTech Cement Ltd , India’s largest cement and ready-mix concrete (RMC) producer, has signed an agreement with the Institute for Carbon Management (ICM) at UCLA to pilot the Zero Carbon Lime (ZeroCAL) technology at one of its cement manufacturing units. The pioneering ZeroCAL process, developed by ICM, has the potential to eliminate nearly 98 per cent of carbon dioxide emissions from limestone decomposition—a critical component of cement manufacturing. The collaboration will involve t... |
GCCA India and Xynteo sign MoU for decarbonisation06 November 2024, Published under Cement NewsThe Global Cement & Concrete Association (GCCA) India and Xynteo announced the signing of a Memorandum of Understanding (MoU), marking GCCA India's partnership with Xynteo's Build Ahead coalition. This landmark agreement aims to accelerate the decarbonisation of India's construction sector through increased use of low-carbon cement and concrete. The two-year partnership will leverage GCCA India's expertise in the cement and concrete industry alongside the collective efforts of the Build ... |
JK Cement announces 75% drop in net profit for 2Q2429 October 2024, Published under Cement NewsJK Cement Ltd has announced a steep 74.7 per cent YoY drop in its net profit for the July-September 2024 quarter, with earnings falling to INR452m (US$5.38m), far below analysts' estimates of INR981.1m. Revenue from operations declined by seven per cent to INR 23.92bn, while sequentially, the company saw a 77.7 per cent drop in net profit and a 9.5 per cent decrease in revenue. In the July-September 2024 period, JK Cement's total expenditure edged slightly higher, reaching INR23.65bn fr... |
UltraTech to trial ZeroCal decarbonisation technology25 October 2024, Published under Cement NewsUltraTech Cement Ltd , India's largest cement and ready-mix concrete (RMC) company, announced the signing of a collaboration agreement with the Institute for Carbon Management (ICM) at the University of California, Los Angeles (UCLA) to pilot a groundbreaking new technology called The Zero Carbon Lime (ZeroCAL) developed by ICM. The technology is designed to significantly reduce carbon dioxide emissions from cement production. ICM, in partnership with UltraTech, will build a first-of-a-kind... |
Dalmia Cement plans 100% renewably-powered plant in Madhya Pradesh24 October 2024, Published under Cement NewsDalmia Cement has announced plans to construct a 4Mta cement plant in Madhya Pradesh, becoming the first such facility in India to operate entirely on renewable energy. The project, valued at approximately INR30bn (US$ 356.82m) was revealed by Group Managing Director, Punit Dalmia, during the fifth Regional Industry Conclave (RIC) held in Rewa district on Wednesday. The new plant is part of Dalmia Cement’s broader commitment to sustainability and clean energy, with the company aiming ... |
Nuvoco Vistas sees 32% drop in 2Q EBITDA on sluggish demand24 October 2024, Published under Cement NewsIndia-based Nuvoco Vistas Corp posted a revenue of INR22.69bn in the 2QFY24-25 ended 30 September 2024. This represents a 11.8 per cent drop from INR25.73bn in the 2Q23-24. EBITDA reached INR22.9m, a decline of 31.8 per cent from INR33.6m in the 2QFY23-24. The company sold 4.2Mt of cement in the July-September 2024 quarter, down by 6.7 per cent from 4.5Mt in the year-ago quarter. “The macro environment remains challenging, characterised by sluggish demand and pricing pressure,” the compa... |