Cement News tagged under: India
Ramco Cements sees 55% fall in net profit26 July 2024, Published under Cement NewsThe Ramco Cements Ltd reported a 55 per cent fall in net profit to INR355m (US$4.24m) during the quarter ended 30 June 2024, compared to INR793m in the same quarter of 2023. The company’s net revenue decreased by seven per cent in the first quarter of FY24-25 to INR20.97bn, down from INR22.49bn in the same period of FY23-24. During the first quarter of FY24-25, sales volume was 4.4Mt, compared to 4.3Mt in the April-June quarter of 2023. This was due to weak demand amid general electi... |
Cement Manufacturers' Association applauds 2024-25 budget26 July 2024, Published under Cement NewsThe Cement Manufacturers’ Association (CMA), the independent body of large cement producers in India that represents almost 75 per cent of the country’s total installed cement capacity, has applauded the Union Budget 2024-25. The budget, presented by the Finance Minister, Nirmala Sitharaman, on 23 July, set out a detailed plan for India’s economic growth with a strong emphasis on infrastructure development, employment generation and energy security. Speaking about the budget, Neeraj Akhou... |
Saurashtra Cement publishes increase in revenue24 July 2024, Published under Cement NewsSaurashtra Cement Ltd has reported consolidated revenue from operations of INR17.65bn (US$210m) in FY23-24 (ended 31 March 2024), up from INR16.45bn (seven per cent YoY). EBITDA for the year was INR1.2bn, compared to INR572m in FY22-23, reflecting a 77.1 per cent YoY increase. Net profit for the year before tax came in at INR565m, marking an 88 per cent YoY increase. Blended cement sales growth was higher than the overall sales growth and clinker production was up nine per cent than th... |
Road spending to boost Indian cement demand23 July 2024, Published under Cement NewsIndia’s cement companies are expected to benefit from a boost in road infrastructure spending. In her Budget 2024 speech, Nirmala Sitharaman, India’s Union Finance Minister announced an investment of INR260,000m (US$3106m) in highway development in Bihar. According to Mint, key projects includes the construction of a two-lane bridge over the Ganga and new highways such as the Patna-Purnea Expressway and Buxom-Bhagalpur Expressway. The news is expected to bring renewed cement demand, b... |
UltraTech sees sales increase in 1QFY24-2522 July 2024, Published under Cement NewsUltraTech Cement Ltd , part of Aditya Birla Group, has reported consolidated net sales of INR178,790m (US$2.14bn) in the first quarter of FY24-25 (ended 30 June 2024). This compares to INR175,190m in the same period a year earlier. Profit before interest, depreciation and tax fell from INR32,230m 1QFY24-25 to INR32,050m in the same period a year later, while profit after tax advanced slightly from INR16,880m to INR16,970m. According to the company, the quarter under review saw a six per... |
Adani Group targets Jaypee Group's cement assets18 July 2024, Published under Cement NewsAs lenders have initiated insolvency and bankruptcy proceedings against Jaiprakash Associates Ltd, the Adani Group is looking to acquire the Jaypee Group ’s cement assets, which boast over 9Mta capacity, according to a report by Moneycontrol. Jaiprakash Associates has been selling its cement plants to reduce debt, with a significant portion of its cement business previously acquired by UltraTech in 2016 for over INR160,000m (US$1.9bn), adding 22.4Mta capacity to UltraTech’s... |
Cochin Port opens fourth terminal15 July 2024, Published under Cement NewsA new cement terminal has entered operation on a 1.14ha plot at Ernakulam Wharf, Kerala, India. The Cochin Port Trust launched the port’s fourth terminal, which is expected to handle 0.3Mta of cement. The first vessel to enter the terminal was the Penna Suraksha, the largest self-discharge vessel in Asia with a discharge capacity of 1000tph. The 25,000t cargo from Krishnapatnam will be bagged at Penna Cement Industries’ plant at the port. |
Oriana Power awarded INR1.55bn solar plant order15 July 2024, Published under Cement NewsOriana Power received a new order for a 40MWp solar plant in Rajasthan, India. The INR1.55bn (US$18.5m) contract was awarded by an undisclosed cement producer and includes the engineering, procurement and construction, commissioning, operation and maintenance of the solar plant. The order is scheduled to complete its execution in nine months' time. The operation and maintenance period is 25 years from the commissioning date. |
Boiler explosion kills two and injures 14 at UltraTech plant09 July 2024, Published under Cement NewsA boiler explosion at the UltraTech Cement factory in the Jaggaihpet region of India has reportedly killed two workers and injured 14 others. Of the injured, Avula Venkatesh and Paritala Arjun died while being treated, and a further three workers are said to be in critical condition according to NTR District Collector, Gummalla Srijana. The Jaggaiahpet police have announced that the explosion may have occurred due to a suspected gas leak in the boiler unit, following a p... |
Dalmia Bharat adds 1Mta of capacity at Kadapa05 July 2024, Published under Cement NewsDalmia Bharat Ltd has expanded the capacity of its integrated cement production facility at Kadapa in Andhra Pradesh by an additional 1Mta. The company announced on 4 July that the expanded capacity had begun production. The expansion, which required an investment of INR2.07bn (US$24.79m), will increase the total capacity of the Kadapa unit to 3.6Mta and the company’s total installed capacity to 46.6Mta. The expansion aims to meet the growing cement demand in the southern markets and... |