Cement News tagged under: India
Saurashtra Cement reports 17% sales increase02 November 2018, Published under Cement NewsIndia's Saurashtra Cement has reported a net loss of INR37.2m (US$511,786) in the quarter ending 30 September 2018, falling from a net profit of INR100.7m in the year-ago period. However, the company's sales increased 16.7 per cent YoY to INR1.34bn from INR1.15bn. |
Jindal Steel and Power to enter cement market31 October 2018, Published under Cement NewsJindal Steel and Power (JSP) plans to establish a 2Mta cement plant near its Angul steel plant in Odisha, India. The company has already purchased the land for the plant, which will be established in an industrial park. JSP is now awaiting for the government to hand over the use of the land. The plant is estimated to cost INR5bn (US$67.7m). JSP will use granulated blastfurnace slag to produce blended cement at the new factory. "With the expansion of the steel making capability to 6Mta, ... |
Aditya Birla Group announces US$5bn capex plan29 October 2018, Published under Cement NewsIndia's Aditya Birla Group, parent of UltraTech Cement, has announced US$5bn capex plans over the next three years for its businesses both in the domestic market and abroad. "Our capex plans over the next three years is about US$5bn across our businesses both in the country as well as in the US. Aleris, which Novelis is acquiring, is also another aluminium rolled product player, will attract around US$3bn of this projected capex," said Kumar Mangalam Birla, group chairman, at The Economist... |
Ambuja Cement records 13% net profit rise for 3Q1825 October 2018, Published under Cement NewsIndia’s Ambuja Cement has announced a 12.7 per cent YoY increase in consolidated net profit to INR3.96bn (US$54.08m) for the 3Q18, ended 30 September. Total income rose by 11.8 per cent to INR60.97bn, compared to INR54.51bn of the year-ago period. Net profit was supported by an 8.7 per cent growth in cement sales volumes to 5.46Mt from 5.02Mt. "Our continued focus on growing the topline with our well-defined marketing and commercial strategies focusing on the retail consumers, value adde... |
India Cements to set up 1.5Mta grinding unit23 October 2018, Published under Cement NewsIndia Cements Ltd is planning to establish a 1.5Mta clinker grinding unit in East Nimar district, Madhya Pradesh, at an estimated investment cost of INR3.16bn (US$42.95m). The company is currently awaiting environmental clearance for the project, while financial closure is underway. Contractor and machinery suppliers are yet to finalised, however work on the project is expected to begin by February 2019. |
UltraTech reports 20% increase in net sales22 October 2018, Published under Cement NewsIndia’s UltraTech Cement has reported an 11 per cent YoY decline in its consolidated net profit for the 2QFY18-19 ended 30 September, falling to INR3.76bn (US$51.29m) from INR4.24bn. However, net sales during the quarter rose 20 per cent to INR81.11bn from INR67.52bn on the back of strong cement volume growth, which increased 21 per cent to 15.1Mt. "Domestic sales volumes jumped 21 per cent over 2QFY17-18. However, rising energy and logistics cost coupled with rupee depreciation resulted i... |
ACC reports a 10% rise in net sales18 October 2018, Published under Cement NewsIndia’s ACC has reported a 15 per cent YoY increase in consolidated profit-after-tax to INR2.4bn (US$32.6m) for the 3Q18 ended 30 September. Net sales rose 10 per cent to INR33.64bn, compared with INR30.54bn seen in the year-ago period. Operating EBITDA was up seven per cent YoY to INR4.44bn from INR4.16bn. Furthermore, the cement sector showed volume growth of 10 per cent. "Demand drivers including growth in affordable and rural housing segments as well as infrastructure projects will rema... |
Cement prices in central India rise17 October 2018, Published under Cement NewsWhile cement prices across India declined MoM to INR326 (US$4.44)/50kg bag in October from INR328/bag, they significantly increased by INR3/bag in central India as local demand performed better when compared with other regions. Prices increased by INR5-10/bag in Lucknow, Meerut and Faizabad in Uttar Pradesh and remained steady in a few places such as Bhopal. Better demand conditions are supporting prices, said analysts, but they warned that demand continues to be driven mainly by governmen... |
Gebr Pfeiffer sells first TRT Triples dryer in India16 October 2018, Published under Cement NewsThree Cement has ordered a Gebr Pfeiffer TRT 5000/8/0 Triplex dryer from Gebr Pfeiffer. The equipment will be used to reduce the company's FGD gypsum to a mixture content of below two per cent. This will enable the artificial gypsum to be processed oil other cement plants in the future with the weight of the product being reduced. Gebr Pfeiffer (India) Pvt Ltd will install the 50th dryer plant at the end of 2018, with commissioning expected in spring 2019. Three Cement also plans to partia... |
Emami Cement files IPO prospectus15 October 2018, Published under Cement NewsEmami Cement has filed a prospectus with market regulator Sebi to raise up to INR10bn through an IPO, according to a document on issue manager manager Axis Capital’s website. "The Initial Public Offering of equity shares of face value INR10 each of Emami Cement Ltd for cash. The offer comprises of a fresh issue of equity shares aggregating up to INR500cr and an offer for sale (OFS) of equity shares aggregating up to INR500cr," it states. The IPO will include shares offered by founders gr... |