Cement News tagged under: Madras Cement
Madras Cement quarterly net profit down 44%30 July 2013, Published under Cement NewsMadras Cement’s net profit for the first quarter of 2013-14 dropped by 44 per cent compared to the corresponding quarter of last year. Net profit for the quarter ended 30 June 2013, stood at INR68.85 crore on a total income of INR 987.18 crore. Expenditure rose by 11 per cent to INR839.70 crore. The company has deposited INR25.86 crore, which is 10 per cent of the penalty levied by the Competition Commission of India for alleged cartelisation, pending final judgment, the release s... |
Madras Cements to develop beneficiation plant, India17 July 2013, Published under Cement NewsMadras Cements is developing a limestone beneficiation plant at Alathiyur in Tamil Nadu with a capacity of 400tpd. The company will set up this plant near its 3Mta cement plant at Alathiyur. The plant will help the company to upgrade cement raw material resources and extend the life of limestone mines. Once Madras Cements commissions the beneficiation unit, it will establish similar facilities at other plants, according to AV Dharmakrishnan, CEO of Madras Cements. Once the beneficia... |
Madras Cement to construct new grinding unit, India04 July 2013, Published under Cement NewsMadras Cement plans to build a grinding unit in the port city of Visakhapatnam, a port city on the southeast coast of India and the second largest city in the state of Andhra Pradesh. The company already operates two grinding facilities in Tamil Nadu and one in West Bengal. Output from the new milling unit will sold in coastal Andhra Pradesh (with Visakhapatnam being the main market) as well as in the neigbouring states of Orissa and Chhattisgarh. Completion is scheduled for the end of FY14... |
Railway projects arouse interest from Indian cement producers13 February 2013, Published under Cement NewsWith Indian railways showing a renewed focus on private partnerships, Jindal, Adani and a consortium of cement companies (UltraTech, Prism and Madras Cement) have been linked to several port connectivity projects, according to Business Standard (BS). The railway expects to raise around INR50,000m (US$928.1m) from the investment in port connectivity projects over the next five years. To begin with, it expects investment worth INR38,000m from the private sector for six port connectivity proje... |
Angel Broking neutral on Madras Cements, India31 May 2012, Published under Cement NewsAngel Broking has maintained neutral rating on Madras Cements , in its May 24, 2012 research report. “For 4QFY2012, Madras Cements posted 55.5% YoY growth in its net profit to INR99 crore, which was marginally below our estimates. Net profit growth was aided by 16.8% YoY growth in volumes to 2.13Mt and 13.7% YoY growth in realisation to INR4250/t. However, on a sequential basis, the company’s realisation remained flat. We remain Neutral on the stock.” Madras registered 32.9% YoY top-line g... |
India: Madras Cements eyes 20% growth02 May 2012, Published under Cement NewsBuoyed by likely growth in demand for cement in south and the company's renewed focus this year on a few states in the east and west, Madras Cements expects a 20% growth in its top line in the current FY12-13. This is also likely to see its capacity utilisation rise over 10 per cent during the year. The company will also become self-sufficient in captive thermal power generation this year, thereby freeing its wind power capacity to be entirely supplied to the state grid. "The cement ind... |
Madras Cements sees 20 per cent growth in FY12-1301 May 2012, Published under Cement NewsMadras Cements expects a 20 per cent growth in its top line in the current financial year (2012-13) buoyed by expected cement deman growth in the south and the company’s renewed focus this year on a few states in the east and west. Capacity utilisation is also expected to go up by over 10 per cent during the year. The cement industry has always gone through this demand – supply mismatch, since firms plough back some of their reasonable profits during high cycles to expand capacities. The sa... |
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