Cement News tagged under: India
LC3 and LC2 – the low-carbon business opportunity13 August 2024, Published under Cement NewsIncreasing urbanisation is expected to result in a significant share of the world population living in a built environment that, unless sustainable construction materials are used, will lead to a considerable carbon footprint. The development and more widespread use of limestone calcined clay cements such as LC 3 and LC 2 is not only expected to reduce the construction footprint but also offer a business opportunity. By Dr Debojyoti Basuroy, TARA Applied Research Centre (TARC), India ... |
Kiln Services Pvt Ltd completes Ambuja ball mill project12 August 2024, Published under Cement NewsKiln Services Pvt Ltd has executed a cement ball mill job for Ambuja Cement Ltd’ s Roorkee plant ( Adani Cement group ). The job has been carried out within the stipulated time and the ball mill started and is running successfully without any abnormalities. The scope of work at Roorkee includes replacement of locating ball mill tyre, reversal of girth gear and alignment, plus replacement of pinion with bearing. |
UltraTech receives 5-star ratings for 12 of its mines09 August 2024, Published under Cement NewsA total of 12 of UltraTech Cement Ltd’s limestone mines have been rated five-star for FY22-23 by Indian Bureau of Mines. The awards were given out on 7 August 2024 in New Delhi by the Union Minister of Coal and Mines, Shri G Kishan Reddy. At the programme marking the event, the minister congratulated UltraTech for its performance in all aspects of mining and contributing to India’s mining sector. The award ceremony was also graced by the Minister of State for Coal and Mines, Shri Satish Cha... |
Shree Cement posts 1Q results08 August 2024, Published under Cement NewsIndia-based Shree Cement reported its 1QFY24-25 results on 6 August 2024, with the company’s revenue from operations declining by 4.7 per cent QoQ, from INR50.7bn (US$603.9m) to INR48.4bn. The company's revenue from operations saw marginal growth of 1.7 per cent, from INR50.3bn in the first quarter of 2023 to INR51.5bn in the same period of 2024. The company's profit before tax for the quarter was INR3bn, down 62.1 per cent from INR8bn in the previous quarter. 1Q profit before tax fe... |
Mangalam Cement reports 16% net profit rise in 1QFY24-2508 August 2024, Published under Cement NewsMangalam Cement Ltd , part of the BK Birla Group of Companies , posted unaudited revenues of INR3805.73m (US$45.32m) in the f posted unaudited revenues of INR3805.73m (US$45.32m) in the first quarter of FY24-25 ended 30 June 2024 (1QFY24-25), representing a 9.5 per cent drop from INR4205.31m in the 1QFY23-24. Other income amounted to INR317.83m, up from INR56.96m in the 1QFY23-24. The company’s total income of INR4123.56m saw a 3.3 per cent decline YoY from INR4262.27m. Profit before tax ... |
Ambuja lays foundation stone at new Bihar grinding facility06 August 2024, Published under Cement NewsAmbuja Cement Ltd , part of Adani Cements , has announced a cement grinding unit in Bihar, investing INR16bn (US$190.8m). Bihar Chief Minister, Nitish Kumar, laid the foundation stone for the facility at Warsaliganj in the Nawada district on 4 August 2024. The unit, Ambuja Cement’s first project in Bihar, will have a full capacity of 6Mta and be completed in three phases on 27,4781.6m 2 (67.9 acres) of allotted land. The first phase, costing INR11bn, targets operation by December 2025, ad... |
JK Lakshmi Cement sees surge in 1Q net profit05 August 2024, Published under Cement NewsJK Lakshmi Cement Ltd has reported consolidated busines results for the period ended 30 June 2024. The company posted a net profit of INR1.5bn (US$18.6m) for the quarter, up from the INR748m profit in the equivalent period of the previous year, marking an increase of 108.7 per cent YoY. During the April-June 2024 period, net revenue declined by 11.6 per cent YoY to INR14.4bn from INR16.3bn, while operating expenses dropped by 14 per cent YoY from INR14.6bn to INR12.5bn. Interest de... |
JK Lakshmi Cement to merge three subsidiaries02 August 2024, Published under Cement NewsJK Lakshmi Cement's board has approved the merger of three of the company's subsidiaries: Udaipur Cement Works (UCWL), Hansdeep Industries and Trading Co, and Hiddrive Developers and Industries. The appointed date for the merger is set for 1 April 2024. The Scheme of Arrangement is expected to become effective in the 2H24. Key details of the merger include the merger of Udaipur Cement Works, where shareholders of UCWL will receive four shares of JK Lakshmi Cement for every 100 shares held i... |
Nuvoco Vistas Corp posts 6% uptick in April-June revenue02 August 2024, Published under Cement NewsIndia-based Nuvoco Vistas Corp saw its consolidated revenue from operations for the April-June 2024 quarter decline by six per cent YoY to INR26.36bn (US$314.8m) as lower volumes and weaker prices affected the company's result. The group sold 4.8Mt of cement, down from 5Mt in the year-ago quarter. Consolidated EBITDA for the quarter stood at INR3.48bn, down more than 13 per cent from a year ago. The company's consolidated net profit fell by more than 80 per cent YoY to INR28.4m in the A... |
Indian cement production may need to expand quicker to meet demand01 August 2024, Published under Cement NewsIndian cement consumption is expected to remain robust this year. The rainy season will weigh on demand somewhat in the near term, but fundamentals are strong for a solid resumption in demand. According to ICR Research, consumption rose 7.9 per cent YoY in 2023, amounting to 418Mt, and demand growth of 6.2 per cent YoY is forecast for this year. The World Bank is projecting GDP growth of 6.6 per cent YoY this year and India’s government is forecasting economic growth of a steady seven ... |