Cement News tagged under: JK Cement
JK Cement announces 75% drop in net profit for 2Q2429 October 2024, Published under Cement NewsJK Cement Ltd has announced a steep 74.7 per cent YoY drop in its net profit for the July-September 2024 quarter, with earnings falling to INR452m (US$5.38m), far below analysts' estimates of INR981.1m. Revenue from operations declined by seven per cent to INR 23.92bn, while sequentially, the company saw a 77.7 per cent drop in net profit and a 9.5 per cent decrease in revenue. In the July-September 2024 period, JK Cement's total expenditure edged slightly higher, reaching INR23.65bn fr... |
JK Cement plans to invest INR30bn in capacity expansion18 September 2024, Published under Cement NewsIndia-based building materials manufacturer, JK Cement , has announced plans to invest INR30bn (US$358.4m) to increase its capacity by 25 per cent, from 24Mta to 30Mta by the end of FY25-26. Nearly INR8bn of the investment has already been made, with work on the brownfield expansion in Panna, Madhya Pradesh, and the greenfield grinding unit in Buxar, Bihar, underway. At Panna, the investment includes clinker capacity expansion, costing approximately INR24bn, while the greenfield unit ... |
Road spending to boost Indian cement demand23 July 2024, Published under Cement NewsIndia’s cement companies are expected to benefit from a boost in road infrastructure spending. In her Budget 2024 speech, Nirmala Sitharaman, India’s Union Finance Minister announced an investment of INR260,000m (US$3106m) in highway development in Bihar. According to Mint, key projects includes the construction of a two-lane bridge over the Ganga and new highways such as the Patna-Purnea Expressway and Buxom-Bhagalpur Expressway. The news is expected to bring renewed cement demand, b... |
JK Cement posts 65% YoY jump in PAT01 July 2024, Published under Cement NewsJK Cement has reported revenue from operations of INR109,180m (US$1308m) in FY2023-24 (ended 31 March 2024), up 17 per cent YoY. Net sales over the same period came in at INR105,630m, marking a 16 per cent YoY expansion, while profit after tax jumped 65 per cent YoY to reach INR8310m. Over the 12-month period the company produced 18.53Mt of grey and white cement (including wall putty), up 17 per cent YoY, giving a utilisation rate (excluding Toshali and Fujairah) of 81 per cent. In ter... |
Indian cement industry embraces EV trucks24 May 2024, Published under Cement NewsThe Indian cement industry is piloting the use of EV trucks with the deployment of around 150 E-trucks as part of the country’s drive to promote green logistics. According to The Times of India, the country’s cement industry, which is home to a cement production capacity of around 670Mta, hopes that the use of E-trucks will help reduce operating costs as long as hurdles such as the higher cost of ownership and the weight of the batteries can be overcome. “Despite challenges such as hig... |
JK Cement sees revenue rise in March quarter13 May 2024, Published under Cement NewsIndia-based JK Cement has reported total income of INR29,820.3m (US$357m) in the quarter ended 31 March 2024, compared to INR27,006.7m in the same quarter a year earlier. Profit after tax over the same period advanced from INR1393.6m to INR2359.5m, while basic earnings per share improved from INR18.04 to INR30.54. Total expenses increased from INR25,102.8m in the three months ended 31 March 2023 to INR26,332.5m in the same period a year later, mainly driven by higher purchases of stock ... |
JK Cement sees continued revenue growth25 January 2024, Published under Cement NewsJK Cement has reported total income of INR28,199m (US$339.12m) in the three months ended 31 December 2023. This compares to INR25,984m in the previous quarter and INR23,581m in the same quarter a year earlier. Profit after tax in the December 2023 quarter came in at INR2894.6m, up from INR1789.2m in the previous quarter and INR576m in the same quarter in 2022. Meanwhile, earnings per share advanced from INR7.46 in the quarter ended 31 December 2022 to INR23.16 in the quarter ended 30 Se... |
JK Cement announces passing of Jitendra Singh14 November 2023, Published under Cement NewsIndia’s JK Cement has announced the sudden passing of Jitendra Singh, its former chief information officer (CIO). Mr Singh suffered a heart attack on 12 November 2023, aged 56. “We are deeply saddened in sharing the news of the sad demise of our former Chief Digital Officer Mr Jitendra Singh who took his last breath at Meerut on November 12, 2023. He had a cardiac arrest. May God give him eternal rest and family the strength to bear the great pain. His last rites shall be performed in... |
JK Cement reports uptick in revenue07 November 2023, Published under Cement NewsJK Cement Ltd has posted total revenue of INR25,984m (US$312.3m) in the three months ended 30 September 2023. This compares to INR21,584m in the same period a year earlier. Profit after tax for the September 2023 quarter came in at INR1789m, up from INR1257m in the same quarter in 2022. Basic and diluted earnings per share over the same period advanced from INR16.15 to INR23.16. Meanwhile, total expenses expanded from INR19,912m to INR23,527m, driven by increases in the cost of materia... |
JK Cement's Aligarh plant boosts renewable energy21 August 2023, Published under Cement NewsAmpln Energy Transition, an energy transition platform, has begun supplying 10MWp of solar power from its 30MWp solar plant in Mishrikh, Uttar Pradesh, India, to JK Cement’s Aligarh plant. The move takes JK Cement’s renewable energy replacement at the Aligarh works to over 60 per cent of the overall energy mix, saving more than 10,780t of CO 2 each year. According to the cement producer, this marks a “significant milestone in our journey towards reducing CO 2 emissions and driving the tra... |