Cement News tagged under: India
Emami Cement looks to expand limestone mining capacity04 June 2019, Published under Cement NewsIndia’s Emami Cement Ltd has announced plans to expand its limestone mining capacity from 5.5Mta to 9Mta at its operations in Kukurdih of Raipur district, Chhattisgarh. The project is expected to be spread over 395ha of land and represent an investment of INR10bn (US$144.35m). While environmental clearance is currently being awaited, work on the expansion is projected to begin by May 2020. |
BAI calls for regulatory authority to investigate cement price hikes03 June 2019, Published under Cement NewsMr V Sivarajan, president of the Builders' Association of India (BAI)'s Coimbatore branch, has hit out against recent price rises established by India's cement sector. The retail price of a 50kg bag of cement was INR270 (US$3.88) two months ago but now it is INR400 (US$5.76). "The prices of raw materials, transport or labour did not go up for the cement industry," Mr Sivarajan said. "So there is no reason for the price rise." Mr Sivarajan announced that the BAI would appeal to the Union ... |
Sri Chakra Cement closes FY18-19 with INR55.9m net loss03 June 2019, Published under Cement NewsSri Chakra Cement reported a net loss of INR35.8m (US$515,506) in the quarter ended March 2019 compared to a net profit of INR16.9m in the year-ago quarter. The company’s sales increased 65.5 per cent to INR498.2m in January-March 2019. In the first three months of 2018 it achieved sales of INR301.1m. For the full FY18-19 a net loss of INR55.9m was reported (FY17-18: net profit of INR1.2m). Sales advanced 1.7 per cent to INR1.882bn in FY18-19, up from INR1.85bn in the previous year. |
Ramco Cements to invest INR35bn in expansion programme31 May 2019, Published under Cement NewsIndia’s Ramco Cements has confirmed plans to invest INR35bn (US$501m) to expand its production capacity from 12Mt to 20Mt by 2020, following the conclusion of the country’s general election. "The uncertainty has ended and stability is back at the centre," said P R Venketrama Raja, chairman and managing director, Ramco Cements. "We expect the new government to focus on major infrastructure projects that will spur growth in the cement sector." The company has already invested INR12bn in upco... |
UltraTech Cement disposes of 5000t of waste from railway workshop29 May 2019, Published under Cement NewsIndia’s UltraTech Cement has safely disposed of 5000t of non-hazardous waste from Golden Rock railway workshop in Tiruchi, Tamil Nadu. Phase I of the project, which began in January 2017, has now been completed, with the material used as alternative fuel at UltraTech’s Ariyalur facility. Phase II will see the railway workshop dispose of another 5000t to other cement producers in Ariyalur. The waste materials include cushions, rubber belts and berth covers. |
Raysut Cement targets expansion outside Gulf region28 May 2019, Published under Cement NewsRaysut Cement Co aims to build on its recent acquisition of Sohar Cement by expanding into Africa and India. Raysut Cement's Chief Executive, Joey Gosh, signalled that further expansion for the Oman cement producer was planned in 2019. Having acquired Sohar Cement Factory LLC for US$60m, Oman Cement is now looking outside of its domestic market. "We are looking at an aggressive expansion strategy from 2019 with a view to eventually expand our production to 20Mta," said Mr Gosh. The indian ... |
India Cements Jan-Mar quarter net profit advances 23% YoY28 May 2019, Published under Cement NewsChennai-based India Cements has reported a 23 per cent increase in its net profit for the quarter ended March 2019. Higher prices, a recovery in cement demand and improved capacity utilisation led to a net profit of INR430m and revenues of INR15.64bn, up 12 per cent YoY and 19 per cent QoQ. For the full financial year 2018-19, stand-alone profits dropped 30 per cent YoY to INR690m as net plant realisations (NPR) fell two per cent YoY and rising fuel prices increased production costs. Goi... |
JK Lakshmi Cement shows 28% net profit growth24 May 2019, Published under Cement NewsIndia’s JK Lakshmi Cement has reported a 27.8 per cent YoY rise in net profit to INR432.5m (US$6.2m) in the final quarter of FY18-19, against INR338.4m in the corresponding period of the previous year. Total income of the company increased 28.8 per cent to INR11.89bn from INR9.23bn. For the full-year period ended 31 March, the company saw a 5.2 per cent YoY fall in net profit to INR795.6m from INR839.6m. However, total income advanced 10 per cent to INR39.38bn from INR35.82bn. |
Ramco Cements sees 50% advance in net profit23 May 2019, Published under Cement NewsIndia’s Ramco Cements has reported a 50 per cent YoY increase in net profit to INR1.65bn (US$23.68m) for the 4QFY18-19, while revenue advanced 21 per cent to INR15.43bn. For the full fiscal year, revenue was up 12 per cent YoY at INR51.87bn. However, fluctuating cement prices and increasing fuel prices meant the company saw a nine per cent fall in profits to INR5.07bn. The company’s performance in the FY18-19 was boosted by a 19 per cent rise in cement sales to 11.12Mt, compared to 9.3Mt... |
Emami Cement receives approval for IPO23 May 2019, Published under Cement NewsEmami Cement Ltd has received approval from the Securities and Exchange Board of India for an IPO, which could raise INR10bn (US$143.56m), according to the Business Standard. The IPO would consist of the fresh issuance of shares worth INR5bn and the rest offered for sale from existing promoters. "We have received Securities and Exchange Board of India approval on 15 May, and we will now finalise a roadmap in consultation with the merchant bankers," said a company source. |