Cement News tagged under: Indian sub-continent
IKN completes the start-up of two clinker coolers in India09 May 2024, Published under Cement NewsChettinad Cement has successfully installed the first IKN Pendulum cooler within the group. The IKN pendulum cooler, after a successful trial run, is now poised to deliver exceptional cooling performance for Chettinad Kallur Line No2. Meanwhile, the new IKN Pendulum cooler has successfully undergone a cold trial at UltraTech Cement ’s Tadipatri plant, for a production capacity of 10,000tpd. This marks the second IKN cooler installed at the plant to improve and sustain energy effici... |
Cherat Cement exhibits mixed financial results in 3QFY23-24 and in 9MFY2409 May 2024, Published under Cement NewsCherat Cement (CHCC) reported net profit after tax (NPAT) of PKR1.2bn (US$4.32m) in 3QFY23-24, down 33 per cent QoQ and flat sequentially. This brings the 9MFY23-24 NPAT to PKR4.6bn, up 12 per cent YoY. Earnings per share reached PKR6.40 in the 3QFY23-24 and PKR23.90 in hte 9MFY23-24. In quantitative terms, the company's total sales volume dropped by 11 per cent (1.974Mt), with domestic sales declining by 14 per cent and exports rising by 18 per cent from last year. Operating pe... |
Fauji Cement strives to improve fundamentals and strengthen its investment case08 May 2024, Published under Cement NewsBMA Capital Management Ltd believes Fauji Cement Co Ltd (FCCL) will reap the benefits of an uptick in local cement demand by FY25, as well as strengthening market share and efficiency gains through new lines and the incorporation of green technology. In addition the company could benefit from an efficient fuel and power mix to enhance margins, strong pricing power to support profitability in a low-demand environment, and an anticipated reduction in interest rates to reduce debt servicing... |
Pakistan cement exports continue to excel in April 202407 May 2024, Published under Cement NewsPakistan’s cement industry’s total cement dispatches during April 2024 were 2.94Mt, compared to 2.95Mt in April 2023. This comprises local cement at 2.33Mt against 2.53Mt in April 2023, showing a decline of 7.99 per cent. Export dispatches rose by 45.96 per cent as the volumes increased from 420,857t in April 2023 to 614,264t in April 2024. Usama Rauf, investment analyst at AKD Securities, said the monthly decline in domestic dispatches is primarily attributed to the inclusion of Eid holi... |
Ambuja Cements announces record results02 May 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has reported record-breaking financial results for the 4QFY23-24 as well as the full year, ended 31 March 2024. According to the company, the strong performance has been driven by improved KPIs in all operational parameters. The 4QFY23-24 saw consolidated sales volumes of cement and clinker of 16.6Mt, compared to 14.1Mt in the same period a year earlier. Consolidated revenue came in at INR88,940m (US$1.065bn), versus INR79,660m in the comparab... |
Kohat Cement Co posted a profit of PKR6.512bn in 9MFY23-2429 April 2024, Published under Cement NewsKohat Cement Co Ltd (KOHC) announced its financial results for the 9MFY23-24 on 25 April. It posted a profit after tax (PAT) of PKR6.512bn (US$23.3m) compared to PKR5.363bn in the same period in the previous year, up by 21 per cent YoY. Result highlights from AHL Research report that the topline in the 9MFY23-24 remained stable at PKR29.972bn. Earnings per share (EPS) increased to PKR33.25 in the 9MFY23-24 from PKR26.91 in the 9MFY22-23. Selling and distribution expenses in 9MFY23... |
Maple Leaf Cement Factory's profit falls 13% in 9MFY23-2429 April 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) announced its financial result for the 9MFY23-24 on the Pakistan Stock Exchange website on 25 April, posting a profit after tax (PAT) of PKR5.374bn (US$19.26m) compared to a PAT of PKR6.185bn in the same period of the previous year, down by 13 per cent YoY. Earnings per share (EPS) declined to PKR5.01 in the 9MFY23-24 from PKR5.76 in the year-ago period. The result highlights from AHL Research said that the topline in the 9MFY23-24 arrived at PKR50.... |
Indian cement demand to grow by 6-7% in FY24-2526 April 2024, Published under Cement NewsIndian cement volume growth recovered to a healthy 7-8 per cent YoY in the last quarter (1 January 2024-31 March 2024) of FY23-24, on aggressive volume push, after growing ~15 per cent YoY in the first half of the year and logging a moderate slowdown in the third quarter due to regional hindrances, according to CRISIL MI&A Research. This ensured a third straight year of healthy demand growth at ~11 per cent to ~441Mt. On this high base, CRISIL expects cement demand growth in India to cool t... |
HeidelbergCement Bangladesh reported a net profit of BDT459m in 202326 April 2024, Published under Cement NewsAccording to HeidelbergCement Bangladesh Ltd ’s (HB) 2023 annual report, the company successfully manufactured and distributed a combined total of 2.185Mt of cement through its three strategically-positioned plants in Kanchpur, Chittagong, and Mukterpur. This quantity represents a marginal 1.2 per cent decline compared to the aggregate sales volume achieved in 2022. Notably, the company’s overall sales volume decreased by 28,000t compared to the preceding year. HB reported a net profit of ... |
Fauji Cement posts a profit of PKR7.043bn in 9MFY23-2426 April 2024, Published under Cement NewsFauji Cement Co Ltd (FCCL) announced its financial results for 9MFY23-24 on the Pakistan Stock Exchange website. The company posted a profit after tax (PAT) of PKR7.043bn compared to PKR6.968bn in the previous period, up by a meagre one per cent YoY. During the 3QFY23-24, earnings arrived at PKR1.769bn compared to PKR1.888bn, a fall of six per cent YoY, as reported in the initial financial coverage report from AHL Research. The topline during 9MFY23-24 reached PKR59.4bn, an uptick of 14 p... |