Cement News tagged under: Ramco Cements
Indian lockdown leaves plant staff stranded31 March 2020, Published under Cement NewsFollowing the Indian lockdown as a response to the COVID-19 outbreak, Ramco Cements has stopped production at its plant in Haridaspur, Jajpur. However, around 400 workers from other states such as Jharkhand, West Bengal and Bihar allegedly remain stranded inside the factory, according to The Pioneer. The issue has now been raised with company management and the appropriate District Collector. |
Ramco Cements records 5% revenue rise31 January 2020, Published under Cement NewsIndia’s Ramco Cements saw a 6.3 per cent YoY decline in standalone net profit for the quarter ending 31 December 2019, falling to INR950m (US$13.28m) from INR1.01bn. However, revenue increased 5.3 per cent YoY to INR12.86bn, while EBITDA also advanced 4.7 per cent to INR2.21bn. "During the current quarter, the company witnessed sluggish demand in its core markets coupled with pressure on prices due to active monsoon. Demand in eastern markets was more visible during the current quarter, bu... |
Ramco Cements expects price hike in Indian states30 August 2019, Published under Cement NewsIndia's Ramco Cements Ltd has stated that a cement price hike in Telugu states is imperative as prices are unviable for manufacturers. "Companies have to increase cement prices as current prices are unviable. There is no other way. Cement prices in Hyderabad range from INR220-270/bag (US$3-3.77/bag). Rates are similar in Andhra Pradesh, though we get INR10-15 more in Visakhapatnam and Rayalaseema regions," said R Ramakrishnan, president of marketing at Ramco Cements, in an interview with ... |
Ramco Cements to invest INR35bn in expansion programme31 May 2019, Published under Cement NewsIndia’s Ramco Cements has confirmed plans to invest INR35bn (US$501m) to expand its production capacity from 12Mt to 20Mt by 2020, following the conclusion of the country’s general election. "The uncertainty has ended and stability is back at the centre," said P R Venketrama Raja, chairman and managing director, Ramco Cements. "We expect the new government to focus on major infrastructure projects that will spur growth in the cement sector." The company has already invested INR12bn in upco... |
Ramco Cements sees 50% advance in net profit23 May 2019, Published under Cement NewsIndia’s Ramco Cements has reported a 50 per cent YoY increase in net profit to INR1.65bn (US$23.68m) for the 4QFY18-19, while revenue advanced 21 per cent to INR15.43bn. For the full fiscal year, revenue was up 12 per cent YoY at INR51.87bn. However, fluctuating cement prices and increasing fuel prices meant the company saw a nine per cent fall in profits to INR5.07bn. The company’s performance in the FY18-19 was boosted by a 19 per cent rise in cement sales to 11.12Mt, compared to 9.3Mt... |
Ramco Cements records 15% revenue increase30 January 2019, Published under Cement NewsIndia’s Ramco Cements Ltd has announced an 18 per cent fall in net profit to INR1.01bn (US$14.18m) for the quarter ending 31 December 2018, compared with INR1.23bn recorded in the year-ago period. Meanwhile, the company’s revenue increased 15 per cent to INR12.17bn on the back of higher cement sales in the domestic market, which rose 19.9 per cent YoY to 2.689Mt. In the 9MFY18-19, net profit declined 23.7 per cent YoY to INR3.41bn from INR4.47bn. However, revenue was up 14.6 per cent to I... |
Ramco Cements to build a 3.15Mta plant in Andhra Pradesh17 December 2018, Published under Cement NewsIndia’s Ramco Cements has laid the foundation stone for a new 3.15Mta greenfield cement plant at Kalavatala, Kolimigundla Mandal, Andhra Pradesh. The environmental clearance has been received for the INR15bn (US$209.3m) project and the required mining lease is in place. Alongside the facility, the project will see the construction of a waste heat recovery system, thermal power plant and a 25km railway line from Sanjamala station. The plant is expected to be completed within 15 months of ... |
Ramco Cements to spend INR8.5bn on plant expansion27 November 2018, Published under Cement NewsIndia’s Ramco Cements is investing INR8.5bn (US$120m) to increase capacity at its facility in Jayanthipuram, Andhra Pradesh, by 1.5Mta and construct a 27MW WHR system. The project is part of an overall expansion plan for the company. "Currently, we have cement grinding capacity of 16.5Mta, which we plan to take to 20Mta by March 2020," said A V Dharmakrishnan, CEO of Ramco Cements. The plan would see its Kolaghat, Visakhapatnam and Odisha grinding units each expanded by nearly 1Mta, accord... |
Ramco Cements reports 11% revenue increase in FY1824 May 2018, Published under Cement NewsRamco Cements Ltd has announced an 11 per cent YoY increase in revenue for FY18, rising to INR44.43bn (US$649.71m) from INR39.93bn of the previous year. However, its stand-alone profit after tax fell 14 per cent to INR5.56bn (FY17: INR6.49bn). In the same period, the company reported an 11.5 per cent rise in cement sales to 9.31Mt. Upcoming projects Ramco Cements also noted that its upcoming capacity expansion projects will all be commissioned in the 2019-20 period. This includes the thir... |
Long-term rail freight rates secured for Ramco and Zuari27 April 2018, Published under Cement NewsIndia’s South Central Railway (SCR) has signed a long-term tariff contract with Ramco Cements Ltd and Zuari Cements Ltd to transport freight traffic at fixed rates, according to The Hindu. Ramco and Zuari signed the agreement to ensure fixed tariff costs for three and five years, respectively. The scheme has been designed to offer customers stability and the capacity to plan logistics for a longer period. Similar agreements have already been signed with UltraTech Cements, India Cement... |