Cement News tagged under: Indian subcontinent
Cherat Cement Co appoints Azam Faruque as CEO18 October 2024, Published under Cement NewsCherat Cement Co Ltd has announced key executive appointments following its recent board elections. According to information from the Pakistan Stock Exchange (PSX), Omar Faruque has been re-appointed as chairman, while Azam Faruque will continue as chief executive officer. Both executives have been re-elected for a three-year term, starting on 16 October 2024. The appointment of Omar Faruque as chairman underscores the company's focus on maintaining strong governance and long-term lead... |
Gharibwal Cement posts 15% increase in FY net profit26 September 2024, Published under Cement NewsGharibwal Cement Ltd reported a net sales revenue of PKR18.165bn (US$65.5m) in the financial year ended 30 June 2024 (FY23-24), down 0.8 per cent from PKR18.316bn in the FY22-23. The Pakistani cement producer posted a gross profit PKR3.775bn, representing a 0.5 per cent decrease when compared with the year-ago period when gross profit was PKR3.793bn. Profit from operations slipped by 1.2 per cent to PKR2.75bn in FY23-24 from PKR2.783bn in FY22-23. However, net profit increased by 14.5 ... |
Ramco Cements invests US$7m in 1Mta capacity upgrade23 September 2024, Published under Cement NewsThe Ramco Cements Ltd announced it has increased its cement capacity by nearly 1Mta following the debottlenecking of cement capacity at its Kalavatala plant in Andhra Pradesh, India. The project has increased capacity at the cement works to 2Mta from 1.5Mta. In addition, the company’s Valapaadi grinding unit in Salem District, Tamil Nadu, also improved its efficiency, resulting in an increase in capacity from 1.6Mta to 2Mta, according to the Economic Times. "The company's total ceme... |
Pioneer Cement reports 98% surge in full-year net profit18 September 2024, Published under Cement NewsPakistan-based Pioneer Cement Ltd , reported revenue of PKR35.52bn (US$127.7m) in the FY23-24 ended 30 June 2024. This represents a drop of 1.8 per cent when compared with PKR36.165bn in the FY22-23. However, the company’s gross profit improved by 25 per cent YoY to PKR11.763bn in FY23-24 from PKR9.409bn in the year-ago period while operating profit saw a 21 per cent uptick to PKR10.756bn from PKR8.889bn over the same period. The company’s net profit advanced by 98.2 per cent to PKR5.17... |
Calderys invests in a single-site greenfield plant in India18 September 2024, Published under Cement NewsCalderys is building a new refractory plant in Bhuinpur, Khordha district, Odisha, India. Known as ‘Capes’ (Calderys Plant in East and South India), the project is a strategic investment to support customers in the country with world-class tailor made and superior quality products and services. Production at the plant is planned to begin in the 2H25. This project will be the world's largest single-site greenfield plant dedicated to refractories and steel casting fluxes. It represents a stra... |
Maple Leaf Cement Factory's profit grows by 19% in FY23-2411 September 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) uploaded its financial results for FY23-24 to the Pakistan Stock Exchange (PSX) on 11 September 2024. The company posted a profit after tax (PAT) of PKR6.891bn (US$24.7m), an increase of 19 per cent YoY compared to PKR5.771bn in the previous period. According to AHL Research, the topline of MLCF during FY23-24 increased by seven per cent YoY to PKR66.452bn. The revenue growth comes on the back of higher retention prices. Selling and distribution e... |
Attock Cement Pakistan sees 135% PAT surge in FY23-2409 September 2024, Published under Cement NewsAttock Cement Pakistan Ltd (ACPL) earned a profit after tax (PAT) of PKR3.56bn (US$12.8m) in FY23-24 compared to PAT of PKR1.51bn in the same period last year, according to the company's filing to the Pakistan Stock Exchange (PSX). The profit expanded by 135 per cent during this period due to higher sales and was mainly due to the gain in sales of the subsidiary ‘Saqr Al Keetan for Cement Production Co Ltd’ compared to the previous year. Net revenue jumped to PKR28.53bn from PKR25.47bn du... |
Sri Lanka slash duty on cement import09 September 2024, Published under Cement NewsTo facilitate uninterrupted imported cement and boost the construction industry, the Sri Lankan government announced that the cess imposed on imported cement was reduced by INR1 (US$0.01)/kg to extend relief to the construction industry. This levy reduction was in effect from 6 September, as notified by the Finance Ministry through local media. Specifically, the tax on artificially-coloured or white cement has been reduced from INR5 to INR4/kg. In contrast, the cess on cement imported in... |
Kohat Cement Company’s profit advances 53% in FY23-2409 September 2024, Published under Cement NewsPakistan’s northern cement producer, Kohat Cement Co Ltd (KOHC), announced its financial results for FY23-24 on the Pakistan Stock Exchange website on 5 September. The company posted a profit after tax (PAT) of PKR8.89bn (US$31.9m), up 53 per cent from last year. The highest-ever annual earnings were possible due to the growth of other income, which increased by 114 per cent to PKR4.45bn during this robust performance. However, net sales decreased to PKR38.64bn from PKR38.92bn, and the co... |
Pakistan cement dispatches witness 26% drop in August06 September 2024, Published under Cement NewsTotal cement dispatches in Pakistan declined by 25.7 per cent to 3.37Mt in August 2024 when compared with 4.53Mt in August 2023. According to the All Pakistan Cement Manufacturers Association (APCMA), domestic dispatches fell by 27.6 per cent to 2.75Mt in August 2023 from 3.8Mt in the year-ago period. Total exports were also down, by 16 per cent, with volumes decreasing to 613,857t from 730,755t over the same period. North-South breakdown In August 2024 cement mills based in the north ... |