Cement News tagged under: Orient Cement
Orient Cement terminates grinding unit MoU24 February 2023, Published under Cement NewsOrient Cement has terminated a memorandum of understanding (MoU) with Adani Power Maharashtra Ltd (APML) to set up a grinding unit in Maharashtra, India. According to The Hindu, the MoU was signed in September 2021. Orient Cement said APML has requested it not to pursue the venture further as “they are not able to obtain the required MIDC clearances for sub-leasing the parcel of land required for the cement grinding unit due to some legal issues.” Also, “the timelines agreed upon as ... |
Orient Cement sees revenue improve01 February 2023, Published under Cement NewsIndia-based Orient Cement Ltd has reported unaudited revenue from operations of INR7322.9m (US$89.6m) in the quarter ended 31 December 2022. This compares to INR6152.8m in the previous quarter and INR6175.3m in the same period a year earlier. Net profit for the quarter ended 31 December 2022 stood at INR275.2m, versus a loss of INR94.9m in the previous quarter and a profit of INR436.7m in the same period in 2021. Power and fuel costs advanced from INR1399.1m in the quarter ended 31 De... |
Orient Cement Ltd reports loss as costs escalate10 November 2022, Published under Cement NewsOrient Cement Ltd has posted revenue from operations of INR6152m (US$75.5m) in the quarter ended 30 September 2022. This is down from INR7139m in the previous year but up from the INR6161m posted in the same period a year earlier. Meanwhile, the company reported a net profit of INR568m in the quarter ended 30 September 2021, which fell to INR374m in the quarter ended 30 June 2022, and finally a loss of INR94.9m in the three months up to 30 September 2022. Basic earnings per share have c... |
Indian cement's fuel strategy alters19 August 2022, Published under Cement NewsWhile the Ukraine-Russian war rages on, the impact on fuel prices can clearly be seen across the globe. Indian cement manufacturers are having to reconsider their strategies for energy consumption and fuel sourcing. Changes in imports have already started to see Indian cement producers seek higher volumes of petcoke imports and cheaper trade routes for thermal coal. Much of the petcoke that Indian cement manufacturers have imported recently has come from Venezuela for the first time, accord... |
Indian producers turn to Venezuela for petcoke supplies17 August 2022, Published under Cement NewsThe surge in global coal prices has prompted Indian cement producers to turn to petcoke instead with the country importing significant volumes from Venezuela for the first time. According to Live Mint, trade data shows that India imported at least four shipments of 160,000t of petcoke from Venezuela, arriving in India between April-June 2022. A further 50,000t cargo is due to reach Mangalore, India, over the coming days and a 30,000t shipment is expected to depart Venezuela for India later t... |
Orient Cement profit hit by fuel costs01 August 2022, Published under Cement NewsOrient Cement has recorded unaudited revenue from operations of INR7139.3m (US$90.1m) in the quarter ended 30 June 2022. This compares to INR6909m in the same period a year earlier. Total expenses over the same period, however, advanced from INR5558.7m to INR6560.5m, mainly driven by soaring power and fuel costs which advanced from INR1320.8m to INR2286.8m. As a result, net profit for the quarter ended 30 June 2022 came in at INR3741.7m, down from the INR8945.8m seen in the same peri... |
Orient Cement sees 3Q profit fall by 19% YoY01 February 2022, Published under Cement NewsCK Birla-owned Orient Cement reported an 18.9 per cent decline in net profit to INR436.7m (US$5.84m) for the third quarter, ended 31 December 2021. In the equivalent quarter of 2020, the company had posted a net profit of INR538.8m, said the company in a filing to the Bombay Stock Exchange (BSE). Orient Cement’s revenue in the 3QFY21-22 edged up 2.1 per cent to INR6.175bn, compared with INR6.046bn in 3QFY20-21. Total expenses increased by 4.6 per cent to INR5.526bn in the 3QFY21-22 fro... |
Orient Cement sees start-up of new solar plant30 December 2021, Published under Cement NewsIndia-based Orient Cement will receive 50 per cent of its annual energy needs at its Maharashtra cement plant thanks to the start-up of a new solar plant. The 13.5MW solar power project was commissioned by Amp Energy India, who operates an open-access facility in Gurgaon village, Osmanabad district. Orient Cement has signed a power purchase agreement with Amp Energy India for the purchase of solar power for 25 years. The cement producer is expected to significantly reduce its energy bills ... |
Orient Cement records 28% YoY revenue increase27 October 2021, Published under Cement NewsIndia’s Orient Cement has recorded a consolidated revenue of INR6.13bn (US$81.63m) in the 2QFY21-22, up 28.4 per cent YoY from INR4.78bn in the comparable period of the previous fiscal. Net profit also climbed 63.4 per cent YoY to INR568.8m from INR348.2m. |
Orient Cement's INR21bn project cleared to begin12 April 2021, Published under Cement NewsIndia’s environment ministry has reportedly cleared Orient Cement’s INR21bn (US$280.27m) expansion plan for its Telangana plant, according to the India National Press. In 2017 the company announced its plans to expand its Devapur plant in Telangana and Chittapur unit in Karnataka for an estimated capital expenditure of INR36bn. However, the plans were stalled and were with the environment ministry for the last two years as an expert panel sought several clarifications. |