Cement News tagged under: India Cements
India Cements 2Q profit falls 29.6%05 November 2012, Published under Cement NewsIndia Cements, the largest cement producer in South India, reported fall of 29.59 per cent in net profit for the quarter ended September 2012 on lower margins. During the quarter, the net profit of the company fell to INR490.8m as compared with INR697.1m in the same period last year. This was lower compared to analysts' expectation of INR730m. Net sales during the quarter rose 3.12 per cent to INR11.25bn compared with the same period last year. |
India Cements plans Tamil Nadu capacity expansion, India25 October 2012, Published under Cement NewsIndia Cements is planning work on a brownfield expansion to add over 3Mta at two of its cement plants in the southern Indian state of Tamil Nadu. The Dalavoi plant, in the Ariyalur district, the company plans to construct a new line that will add over 2.55Mta to the existing 2.16Mta capacity, according to reports by Business Line India. This will take total capacity at the plant to 4.71Mta. A 2x20 MW captive power plant will also be set up to fully meet the power requirement there. A simil... |
Deutsche upgrades India Cements to buy07 September 2012, Published under Cement NewsDeutsche Bank has upgraded India Cements to "buy" from "hold", while cutting its target price to INR106 from INR120, citing favourable risk-reward on attractive valuations and improving returns on equity profile. |
India Cements 1Q net profit drops 39.2%14 August 2012, Published under Cement NewsIndia Cements Ltd today said that it has reported a decline of 39.2 per cent in its net profit for the first quarter ended June 2012 at INR62.07 crore. The net profit of the company stood at INR102.03 crore during the same period a year ago, said India Cements in its filing to the Bombay Stock Exchange on August 13, 2012. Meanwhile, the company has said it is exploring at possibilities of exports to Sri Lanka and South African countries. Speaking to Business Standard of India, N Srini... |
Indian producers issued with record fine on price fixing21 June 2012, Published under Cement NewsEleven Indian cement producers have been issued a total fine of INR60bn (US$1.1bn) for price fixing, the highest ever fine issued by the country’s antitrust authority in its three-year existence. The Competition Commission of India (CCI) said in its ruling that the companies colluded to underuse their plants and create an artificial cement shortage. "The commission has found that the cement companies have not utilised the available capacity so as to reduce supplies and raise prices in tim... |
India Cements receives approval for future expansion19 June 2012, Published under Cement NewsIndia Cements has received approval from the environment ministry as it gathers the necessary approvals for the possible expansion of its existing plants. The Times of India reports that the company sought the Terms of Reference (TOR) approval to expand capacity at its Dalavoi and Sankari cement works in Andhra Pradesh. India Cements has noted, however, that this is only an initial step and that the actual expansion projects have not been finalised. “We are getting the required approva... |
Credit Suisse sees “headwinds” for Indian cement sector02 May 2012, Published under Cement NewsCredit Suisse sees near-term "headwinds" for the sector due to a slowdown in rural and urban housing, despite the "attractive long-term rural story. "The investment bank re-starts coverage of the Indian cement sector with an "underperform" rating on ACC and Ultratech Cement and a "neutral“ rating on Ambuja Cement. Credit Suisse says margins will also "deteriorate" due to an expected 13% rise in power and freight costs on the back of higher domestic coal and diesel prices. The bank also say... |
Stable prices boost India Cements 4Q profit26 April 2012, Published under Cement NewsIndia Cements reported a five per cent rise in net profit attributed to stable cement prices and improved realisations. Business Line India reports that for the quarter ended March 31, 2012, the company posted a net profit of INR64.92 crore on a total income of INR1122.95 crore. During the corresponding quarter in the previous year, the net profit was INR56.31 crore on a total income of INR941.52 crore. A noticeable recovery in demand and a higher average realisation during the year... |
India Cements: investors could consider on long-term basis24 April 2012, Published under Cement NewsChennai-based India Cements is a leading player in southern India and has benefited from strong cement prices, given production discipline amongst local producers over the past few quarters. Consequently, total cement dispatches in the southern region grew just 1.8% YoY during FY12, and the pace was much slower than the all-India growth during this period, Point Out brokerage house reports. India Cements has recently diversified its presence into northern markets. Its subsidiary Trinetra ... |
India Cements to raise capacity in Tamil Nadu22 March 2012, Published under Cement NewsIndia Cements has begun the process to expand capacities at two of its plants in Tamil Nadu, according to reports from the Times of India. The company has applied to the Ministry of Environment and Forests to obtain the Terms of Reference (TOR) to expand capacities at its existing plants in Dalavoi in Ariyalar district and Padaveedu in Salem district. India Cements has seven plants all situated in South India with a total capacity of 15Mta. It recently commissioned a plant in Mahi, Rajast... |