Cement News tagged under: India
Sanghi Cement reports a loss as power costs soar11 August 2022, Published under Cement NewsSanghi Cement has posted unaudited revenue of INR3391.4m (US$42.67m) in the quarter ended 30 June 2022, up from INR2819m in the same period a year earlier. Compared to a profit of INR223.2m in the quarter ended 30 June 2021, in the same quarter this year the company has reported a loss of -INR328.7m. While finance costs over the period have jumped from INR206.9m to INR445.2m, power and fuel costs have soared from INR921.2m to INR1928.6m. Selling expenses have also risen, as have depreci... |
Deccan Cements posts fall in revenue for June quarter11 August 2022, Published under Cement NewsIndia’s Deccan Cements Ltd has reported unaudited revenue of INR1940.16m (US$24.4m) in the quarter ended 30 June 2022, compared to INR2242.36m in the same period a year earlier. Profit for the period came in at INR206.77m, down from the INR368.33m seen in the same quarter in 2021. Like so many companies, Deccan Cements has seen its power and fuel costs surge, rising from INR572.41m in the quarter ended 30 June 2021, to INR711.39m in the same period this year. However, freight charges ov... |
Sagar Cements to submit acquisition plan for Andhra Cements11 August 2022, Published under Cement NewsSagar Cements will submit a resolution plan for its acquisition of Andhra Cements before 18 August 2022. According to The BusinessLine, the company hopes to receive the necessary clearances by October this year but also expects to require around three months for maintenance works at Andhra Cement’s plants in Dachepalle and Visakhapatnam. Although Sagar Cements claims it cannot reveal more information at this stage, the deal is believed to be worth around INR14,000m (US$176m). Sagar Cement... |
Dalmia Bharat Ltd reports revenue of INR33,020m in 1QFY22-2310 August 2022, Published under Cement NewsDalmia Bharat Ltd reported its consolidated financial results for the quarter ending 30 June 2022 (1QFY2023) with revenue totalling INR33,020m (US$414.8m) compared to INR25,910m in the 1QFY2022. EBITDA reached INR5860m in the 1QFY2023 down from INR7130m in the 1QFY2022. Sales volumes rose by 27.3 per cent to 6.2Mt from 4.9Mt in the 1QFY2022. Profit after tax totalled INR2050m in the 1QFT2023 down 26.8 per cent from INR280m in the 1QFY2022. Commenting on the quarter gone by, Puneet Dalm... |
thyssenkrupp wins pyroprocessing orders in India09 August 2022, Published under Cement NewsthyssenKrupp Industrial Solutions India have been awarded contracts by Shree Cement and Hills Cement . The orders comprise the planning, engineering and supply of pyroprocessing plants, each including a Polytrack ® clinker cooler. Balasubramanian VN, director of thyssenkrupp Industries India's cement division, said: "The fact that Shree Cement and Hills Cement are working with us for the first time is of great strategic importance to us. We thank the management of both companies for... |
Mangalam Cement reports 43% uptick in income in 1QFY2309 August 2022, Published under Cement NewsMangalam Cement has reported a 42.9 per cent YoY increase in total income to INR5181.7m (US$65.13m) in the 1QFY23, compared to INR3625.1m in the same quarter a year earlier. Over the same period, net profit declined by 19.8 per cent to INR28.1m, while earnings per share fell 19.8 per cent to INR10.22, compared to INR12.75 in the 1QFY22. Compared QoQ rather than annually, the company’s total income advanced by 12.7 per cent in the 1QFY23 versus the 4QFY22. Over the same period, net profi... |
Birla Corporation hit by escalating fuel costs08 August 2022, Published under Cement NewsBirla Corp Ltd has reported a 25.2 per cent increase in revenue to INR22,180.6m (US$278.8m) in the first quarter of FY22-23, despite tepid cement demand. However, profitability was hit by rising power, fuel and freight costs, along with the costs incurred with the optimisation of the newly-commissioned Mukutban plant in eastern Maharashtra. Commercial production at the plant began on 30 April 2022 with capacity at the unit expected to reach 3.9Mta, taking the company's total production cap... |
CCI accuses Indian cement industry of antitrust violations08 August 2022, Published under Cement NewsThe investigations arm of the Competition Commission of India (CCI) has held top leadership of Holcim, ACC and Ambuja cement, market leader UltraTechCement and 17 other firms, such as Shree Cement and Dalmia Cement liable for antitrust violations. The investigation report, issued last month and seen by Reuters, is the penultimate but most significant stage of the CCI probe that started in 2019. The report, which is not public, will now be reviewed by CCI's top three officials who ha... |
Carbon Clean makes new sales appointments05 August 2022, Published under Cement NewsCarbon Clean has boosted its global sales team with appointments that cover Asia, Europe and the Middle East. Lim Beng Chong joins as sales director Asia-Pacific, based in Singapore. Federico Cruzzolin has been hired as sales Manager Europe and is based in Frankfurt, Germany. While Niraj Singh has been promoted to sales manager Middle East and Africa and will be located in Mumbai, India. These appointments follow the recent record US$150m Series C funding round and the company’s... |
India's carbon trading market to be announced this month03 August 2022, Published under Cement NewsAnticipation is building that India is about to start a carbon trading market for major emitters in the energy, steel and cement industries. The clean energy initiative is expected to be announced by Prime Minister Narendra Modi at the Independence Day celebrations on 15 August, according local sources. It has been in the works since March, according to Reuters. It is thought that the market would initially be limited to hard-to-abate sectors, allowing participants to trade credits earned... |