Cement News tagged under: India Cements
Andhra Pradesh orders plant closure, India29 August 2013, Published under Cement NewsThe Andhra Pradesh Pollution Control Board (APPCB) has ordered the closure of India Cements Ltd factory at Yerraguntla for non-compliance of regulatory standards, resulting in the pollution of surrounding areas. It has also initiated action against four other factories in the district citing the same grounds. The closure order was issued in the interest of protecting public health and environment, in accordance with a decision taken at a hearing conducted by APPCB on 5 August 2013. The ICL... |
India Cements unit is ordered to close23 August 2013, Published under Cement NewsThe Pollution Control Board (PCB) has ordered the closure of India Cements Ltd's Yerraguntla plant and initiated action against four more cement factories in Kadapa district, for non-compliance of the Board directions and standards as well as causing severe air pollution in surrounding areas. The closure order was given in the interest of protecting public health and environment. The factory had not made an upgrade to its electrostatic precipitator to meet the PCB's emission standards. The... |
India Cements reports fifth consecutive quarterly drop in net profit14 August 2013, Published under Cement NewsIndia Cement has reported its fifth consecutive quarterly drop due to forex losses and a lower pricing environment. Net profit for the first quarter of the current fiscal declined by 72 per cent to INR16.82 crore. N Srinivasan, vice chairman and managing director, India Cements Ltd said: “The exchange translation charges due to unprecedented rupee depreciation impacted to the tune of INR27 crore resulting in net profit before tax of INR26 crore.” The company also saw a drop in prices duri... |
Squeeze tightens on Indian cement13 June 2013, Published under Cement NewsMuted volume growth and continuing cost pressures have put a further squeeze on the earnings of Indian cement companies with a disappointing 15 per cent YoY fall in EBITDA/t in Q4FY13. Among the large companies, only HeidelbergCement managed to report an improvement while UltraTech Cement, Dalmia Cement and Prism Cement all reported flat EBITDA/t during the quarter. Volumes declined one per cent YoY over the same period, significantly below the government’s recently revised 7.3 per cent in... |
India Cements to restructure non-core assets07 June 2013, Published under Cement NewsIndia Cements has said it will restructure its non-core assets, enabling the company to focus on core areas of its business and increase profitability. The company is expected to announce businesses in which it wants to partially or fully exit when it announces its quarterly results later this year. “We are working on whether to merge, hive-off or to sell to make all these businesses profitable and if we can grow independently,” N Srinivasan, vice-chairman and managing director, said. ... |
India Cement's net profit hit by rising production and transportation costs22 May 2013, Published under Cement NewsRising production costs and subdued demand in the southern markets has resulted in India Cements reporting a 31 per cent decline in FY13 net profit. Net profits (consolidated) fell to INR178.62 crore for the fiscal, down from INR259.86 crore last year, while revenues rose nine per cent to INR5159.47 crore from INR4631.04 crore last year. According to N Srinivasan managing director of India Cements, profit took a hit due to an increase in cost of diesel and freight charges and high cost o... |
HSBC Global increases stake in India Cements15 March 2013, Published under Cement NewsHSBC Global Investment Funds has purchased 384,345 shares of India Cements Ltd for an undisclosed sumy, the cement producer said in a notice to the stock exchanges. Following the acquisition, HSBC Global Investment's stake in the company has risen to 5.12 per cent, India Cements noted. |
India Cements looks to construct new line in Rajasthan15 February 2013, Published under Cement NewsIndia Cements is studying the possibility of expanding capacity in Rajasthan to cater for growing demand in the neighbouring states of Gujarat and Madhya Pradesh. Mr N Srinivasan, vice chairman and managing director, India Cements told Business Standard that the company is “examining whether we can expand the capacity at Rajasthan plant". The Rajasthan plant’s current capacity is 1.3Mta and the company is aiming to add another kiln line of similar capacity to serve the markets of Gujar... |
Mixed bag of Q3FY13 earnings for Indian cement producers10 January 2013, Published under Cement NewsA weakness in cement prices and softening demand in the region is expected to hit Q3FY13 earnings of some of India’s cement producers. Only ACC and Ambuja are forecast to record a YoY earnings growth, says research house Jefferies. Grasim, ICEM and UltraTech are predicted to see more modest earnings. Ambuja should benefit from a 1.2 per cent YoY rise to 5.8Mt in cement and clinker volumes. Average realisation is anticipated to improve nine per cent YoY, largely cancelling out the two per ... |
India Cements net profit falls 30%06 November 2012, Published under Cement NewsIndia Cements Ltd on Monday said its second quarter net profit fell 30 per cent YoY to INR49.08 crore from INR69.71 crore from a year earlier. "Our profits were lower as we suffered from increased input costs due to power and fuel," N Srinivasan, vice chairman and MD of India Cements said. The company’s power and fuel costs were up 21 per cent during the quarter ending 30 September at INR328.48 crore. |