Cement News tagged under: corporate
India Cements 9-month net up23 January 2007, Published under Cement NewsWith unabating buoyancy in cement demand, India Cements stayed itself firmly in the high profit zone. It posted a record net profit of Rs 79.78 crore in the third quarter ending December 31, 2006, up by 11 times over Rs 7.22 crore in the same period last year. Net sales increased to Rs 542.21 crore ( Rs 411.87 crore). In the first nine months of this year, net profit surged to Rs 309.69 crore ( Rs 18.28 crore). With this, the company has wiped out the entire accumulated loss of Rs 262.53... |
Capital markets board approves tender call exemption for Akcansa shares23 January 2007, Published under Cement NewsThe cement manufacturer Akcansa Cimento announced that the Capital Markets Boards has approved HeidelbergCement Mediterranean Basin Holdings’ application for an exemption from launching a tender call for Akcansa minority shares. The company applied to the Capital Markets Board after CBR International, a wholly-owned subsidiary of Heidelberg Cement A.G, had transferred its 39.7% (TRY 76m nominal-valued) Aksansa shares to Heidelberg Cement Mediterranean Basin Holdings, which is also a wholly-o... |
India’s Grasim Q3 profit soars, beats forecast23 January 2007, Published under Cement NewsGrasim Industries Ltd said its quarterly net profit more than doubled on higher sales, beating market expectations. Grasim said its net profit rose to Rs4.11bn ($93 million) in its fiscal third-quarter ended December 31 from Rs1.62bn a year ago. The company said sales rose 37 per cent to Rs22.8bn from Rs16.6bn. |
Mangalam Cement sees high YoY, QoQ realisations23 January 2007, Published under Cement NewsMangalam Cement has declared its first quarter results. The company’s Q1 net profit is up at Rs 20.4 crore (Rs 204m) versus Rs 7 crore (Rs 70m). MD of the company KC Jain says that the number of despatches have fallen on account of power cuts. He says that realisations are high on YoY and QoQ basis. According to him, the impact of customs duty cut, recently announced, will only be felt in coastal areas. |
Siberian Cement’ Splits Shares22 January 2007, Published under Cement NewsFederal Financial Markets Service registered the issue of ordinary nominal shares of the holding company ’Siberian Cement’ (Kemerovo). In December, Sibcement’s shareholders made a decision on splitting 100 ordinary shares of the face value of RUR3.035 million into 30.352 million shares of the nominal value of RUR10. At present Sibcement’s share capital equals RUR303.5 million. |
Hanil Cement to sell its Korea Ratings stake to Fitch22 January 2007, Published under Cement NewsHanil Cement Co, a South Korean cement manufacturer, said Wednesday it will sell its entire stake in a leading domestic corporate credit appraiser to international credit appraiser Fitch Ratings. The stake involves 1,565,696 shares worth 46.97 billion won (US$50.12m), representing 34.48 per cent of the entire shares of Korea Ratings (KR), Hanil said in a public notice. |
OCL India Q3 net profit soars four-fold22 January 2007, Published under Cement NewsCement manufacturer OCL India Ltd today reported a more than four-fold jump in net profit during October-December 2006 to Rs 17.74 crore compared to Rs 4.04 crore in the year ago period. For the latest quarter, turnover increased 29.87 per cent at Rs 225.09 crore against Rs 173.31 crore for the same period of previous fiscal, a company statement said. The board of directors have also given their in-principle approval for demerger of the sponge iron and steel and real estate operations in... |
Higher sales boost UltraTech Cement net to Rs 212 cr22 January 2007, Published under Cement NewsUltraTech Cement’s net profit for the third quarter of the fiscal soared to Rs 212 crore from Rs 24 crore a year earlier. The steep rise in net profit was due to higher sales volumes, higher realisations, and better management of energy costs, said Mr K.C. Birla, Executive President and Chief Financial Officer of the company. It was also in part due to the inclusion of the results of Narmada Cement Company Ltd, which were not taken into account a year earlier. This makes the year-on-yea... |
Shree Cement reports 272.42 % rise in net profit19 January 2007, Published under Cement NewsShree Cement on Thursday reported a 272.42 % rise in net profit at Rs 104.13 crore for the third-quarter (Q3) ended December 31, 2006, compared to a Rs 27.96 crore net in the earlier corresponding period. The higher Q3 net profit follows a 152.64 % growth in Shree Cement’s October-December quarter net sales revenue at Rs 364.54 crore (Rs 144.29 crore). Elaborating on the results, company officials attributed the strong Q3 financial to good market conditions, better branding and regular cost... |
JK Lakshmi Cement’s net profit growth of 386%19 January 2007, Published under Cement NewsJK Lakshmi Cement Ltd., one of the top manufacturers of cement in North India has posted an exceptional growth for the quarter ended December 31, 2006. It recorded net sales of Rs 228.64 crore, a phenomenal increase of 50% as compared to Rs 152.86 crore in the corresponding quarter of the last fiscal. Net profit for the quarter was Rs 55.06 crore, an increase of 386% over Rs 11.33 crore in the corresponding fiscal of the previous year. The operating margins increased to 32% in Q3FY07 owing ... |