Cement News tagged under: JK Cement
JK Cement doubles net profit to INR964.5m15 May 2018, Published under Cement NewsJK Cement's net profit more than doubled to INR964.5m (US$14.2m) for the fourth quarter ended March 2018. The company had posted a net profit of INR425.7m in the same quarter of the previous fiscal. The cement producer's total revenue during the quarter under review stood at INR13.69bn, up from INR12.55bn in the year-ago period. In the quarter under review, JK Cement reported tax expenses of INR265.3m as against INR745.8m in the corresponding quarter a year ago. For the fiscal year... |
JK Cement chairman says consolidation will help correct oversupply issue16 March 2018, Published under Cement NewsYadupati Singhania, chairman of JK Cement, has stated that consolidation will help correct the supply overhang in the cement industry, according to The Economic Times. "Consolidation in a way is good for the industry as it will take care of the excess supply," he said. "Today, there is at least 25 per cent excess supply as compared to the demand. This overhang is not good and it is the reason why you don't get the right price for your products." New capacity While consolidation may be g... |
JK Cement reports 10% increase in net profit05 February 2018, Published under Cement NewsJK Cement has reported a 9.77 per cent YoY increase in net profit for the quarter ending 31 December 2017. This translates to a total of INR7.2bn (US$112.2m), compared to INR6.64bn seen in the year-ago period. Net revenue grew by 26.84 per cent in the 3QFY18, finishing at INR112bn (3QFY17: INR88.7bn). However, the company’s operating expenses also rose 29.24 per cent in the Oct-Dec 2017 quarter to INR95.5bn, when compared with INR73.9bn of the previous year’s quarter. Elsewhere, JK Ce... |
JK Cement plans expansion spree05 December 2017, Published under Cement NewsJK Cement is planning to almost double its grey cement capacity to 18Mta in four years with brownfield and greenfield expansions. The company is embarking on a brownfield expansion of 3.5Mta at its Mangrol facility in Rajasthan. This involves capital expenditure of about INR15,000m (US$232.8m). Work at Mangrol is expected to start by end FY17-18 and commissioning is expected by end of 2019, Rajnish Kapur, head of grey cement business, told Economic Times. Separately, JK is also workin... |
Indian cement companies expected to raise prices20 November 2017, Published under Cement NewsIndian cement companies are expected to raise cement prices in reaction to the recent ban on petcoke and furnace oil, which came into effect in Uttar Pradesh, Haryana and Rajasthan. The ban is expected to affect in particular Shree Cement, JK Cement, JK Lakshmi Cement, Ambuja Cement, India Cements and ACC, which operate in these states. The price hike is predicted to be around INR10 (US$0.15)/bag. Other parts of the country could be affected in the future as the Supreme Court has rec... |
JK Cement 2Q net profit doubles to INR930m13 November 2017, Published under Cement NewsJK Cement reported a jump in standalone profit to INR931.4m (US$14.22m) for the second quarter, ended 30 September 2017. In the equivalent period of FY17, the company’s profit reached INR409.1m, said the company in a regulatory filing. Total revenue rose to INR11.421bn in the July-September 2017 quarter, a 5.5 per cent advance when compared with the INR10.822bn reported during the year-ago period. |
Government may step in to outsource the Samba plant25 October 2017, Published under Cement NewsIndia's government is considering to outsource the operation of the Samba cement plant, part of JK Cement Group. "The delay in its launching [the Samba plant] has been attributed to inordinate delay on the release of equity by the government and also delay in the installation of receiving station by PDP," sources maintained. An official of the JK Cements Ltd told the Kashmir Observer that the final decision is yet to be taken, but the government may step in to outsource the Samba pla... |
India: five cement producers to appeal the CCI order06 February 2017, Published under Cement NewsFive of the seven cement companies which were fined by the Competition Commission of India (CCI) in January, for alleged bid rigging of a 2012 tender put out by the Haryana government, will appeal to the Competition Appellate Tribunal. Shree Cement, JK Cement, Ambuja Cements, ACC Ltd and JK Lakshmi Cement will contest the CCI order as they are of the view that they have a ‘good case for succeeding in the appeal.’ Other companies such as UltraTech Cement and Jaiprakash Associates are curren... |
India: Seven cement firms fined for bid-rigging20 January 2017, Published under Cement NewsThe Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen... |
India: JK Cement net profits climbs 182%01 November 2016, Published under Cement NewsOn a stand-alone basis, JK Cement’s net profit was reported at INR410m (US$6.14m) for the July-September quarter, a 182 per cent increase from the INR145.4m net profit recorded in the same period last year. Stand-alone total income for the period under review increased by seven per cent to INR10.76bn, up from INR10.08bn in the same period last year. Total expenses registered higher during the quarter, reaching INR9.61bn. Total expenses for the same period last year were reported at INR9.4... |