Cement News tagged under: Shree Cement
Shree profits fall sharply18 May 2017, Published under Cement NewsShares of Shree Cement declined over five per cent on Wednesday after the company said its profits more than halved in March quarter. The company reported a standalone profit of INR304.5bn (US$4.73bn) for the fourth quarter ended 31 March, compared with INR663bn, reported for the same period last year, said the Economic Times. The company said total income during the quarter under review increased to INR2834bn from INR2724bn in the January-March quarter of 2015-16. The earnings are not co... |
India: Shree Cement granted ToR for Karnataka plant expansion18 April 2017, Published under Cement NewsShree Cement has been granted terms of reference (ToR) by the Environment Ministry to expand its plant in Kalaburagi district of Karnataka. The project involves increasing clinker capacity from 2.4Mta to 4.5Mta, and cement capacity from 4Mta to 6Mta. The plans also include raising the plant’s captive power plant capacity from 44MW to 50MW and its waste heat recovery power plant from 20MW to 35MW. (Source: Economic Research India). |
India: Dalmia Bharat and Shree Cement to battle for Binani Industries07 February 2017, Published under Cement NewsDalmia Bharat and Shree Cement are among at least three companies that have expressed interest in buying Binani Industries’ subsidiary Binani Cement's 6.25Mta cement manufacturing capacity in India, according to Moneycontrol. "Dalmia Bharat and Shree Cement are interested. There's one MNC [multinational cement company] as well that has a large presence in India which is interested in buying," an official familiar with the development said. Both Dalmia Bharat and Shree Cement have used... |
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: Shree Cement board approves new 3Mta plant31 January 2017, Published under Cement NewsShree Cement Ltd on Monday said its board had approved a plan to build a 3Mta plant in Karnataka at a cost of INR18,000m (US$265.3m). The proposed plant is expected to be ready by the quarter ending 31 December 2018, the company said in a regulatory filing.The project is to be funded by internal revenues not yet accounted by the company. Shree Cement’s board also approved on Monday the payment of a special dividend of INR100 per share. The company’s shares fell 1.3 per cent to INR15,677.30... |
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: Petron Engineering receives LoI from Shree Cement05 January 2017, Published under Cement NewsPetron Engineering Construction has received a Letter of Intent (LoI) from Shree Cement for the civil works including plant building, silos and miscellaneous work at the cement producer's Orissa grinding project in Shyampur District, Cuttack, Odisha. The value of the contract is approximately INR330m (US$4.86m). In September 2016 the company received a LoI from Shree Cement for civil works at its cement plants at Aurangabad, Bihar and Gulbarga, Karnataka for a total contract value of INR50... |
Shree Cement awaits environmental clearance for West Bengal grinding unit06 December 2016, Published under Cement NewsShree Cement is awaiting environmental clearance for its cement grinding unit in West Bengal, India. The company plans to build a 5Mta grinding plant at Prabatpur and Digha villages, Raghunathpur, Puralia district. The estimated INR6bn (US$88m) project also includes a 20MW coal- and petcoke-based captive power unit. A public hearing is scheduled for 9 December 2016. Shree Cement is yet to finalise the contractor and equipment supplier for the project. |
India: Shree Cement Q2 net profit up 18%08 November 2016, Published under Cement NewsShree Cement reported an 18.3 per cent YoY rise in its standalone net profit for the quarter ended 30 September 2016. Standalone net profit stood at INR2.91bn (US$43.7m) in the quarter compared to INR2.46bn in the same period last year. Total standalone income was up 17.6 per cent to INR22.5bn in the quarter, compared to INR19.1bn last year. Total expenses registered higher at INR20.3bn against INR17.4bn in the previous corresponding quarter. The company’s board of directors also recen... |
Visible cracks10 October 2016, Published under Cement NewsOver the last 18 months CDP has analysed sectors ranging from electric utilities and automotive manufacturing to extractives and has benchmarked how leading players manage climate risks and opportunities. In June it was the turn of the cement sector, as CDP published ‘Visible Cracks’, its first report for investors on the global cement industry. This publication revealed how differently companies in the sector are preparing for the transition to a low-carbon economy. By Tarek Soliman and Cha... |