Cement News tagged under: india
Burnpur Cement announces net loss in FY1830 May 2018, Published under Cement NewsIndia’s Burnpur Cement reported a INR39.5m (US$585,316) net loss in the quarter ending 31 March 2018, improving from the INR233.1m net loss of the year-ago period. Furthermore, sales increased 419.8 per cent to INR186.1m from INR35.8m. In the full-year FY18 period, the company recorded a INR444.9m net loss (FY17: INR597.7m). However, sales decreased 43.4 per cent to INR420.6m (FY17: INR743.4m). |
India Cements reports 56% slide in FY17-18 profits29 May 2018, Published under Cement NewsIndia Cements Ltd reported a 56 per cent fall in net profits for the year ending 31 March 2018. Consolidated net profit decreased to INR707.2m, down from INR1.631bn in the previous financial year. Revenues dropped by seven per cent from INR58.802bn in FY16-17 to INR54.567bn one year later. India Cements Vice-Chairman and Managing Director, N Srinivasan, attributed the slide in profits to a reduction of INR200/t in cement prices and higher fuel, energy and other production costs. Ho... |
Saurashtra Cement records 43% net sales increase29 May 2018, Published under Cement NewsIndia's Saurashtra Cement Ltd has reported a 43 per cent YoY increase in net sales for the 4QFY18, rising to INR1.82bn (US$26.7m) from INR1.27bn in the year-ago period. Net profit saw a 486.2 per cent surge in the same period to finish at INR260m, with the result attributed to a tax credit. In the full-year period ending 31 March 2018, the company reported a 12.6 per cent YoY rise in net sales, while net profit advanced 349.4 per cent to INR139m. |
Grasim looks to invest INR59bn in modernising its cement plants25 May 2018, Published under Cement NewsIndia’s Grasim Industries will invest over INR130bn (US$1.9bn) in its cement and textiles businesses over the next 24-36 months, as the company looks to increase capacity and modernise production, according to a senior official of the group. The company, including its subsidiary, UltraTech, will invest INR59bn in modernising its existing cement plants, while also carrying out environmental upgrades and increasing the capacity of the assets acquired from Jaiprakash Associates. Business res... |
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... |
Demerger of Century Textiles to UltraTech Cement24 May 2018, Published under Cement NewsThe Board of Directors of UltraTech Cement Ltd confirmed that Century Textiles will demerge its 'Cement Business' into UltraTech, in a company statement. "The transaction provides UltraTech the opportunity for further strengthening its presence in the highly fragmented, competitive and fast growing east and central markets and extending its footprint in the western and southern markets in the country," said UltraTech's statement. The transaction is expected to be consummated within 6-... |
L&T Construction wins order for cement plants22 May 2018, Published under Cement NewsThe Building and Factories sector of L&T Construction has won orders worth a total of INR40.33bn (US$592.74m) in the Indian domestic market, according to a BSE filing. This includes an order from a leading cement manufacturer for the construction of plants in Odisha and Andhra Pradesh. The projects are based on a design and build model. |
UltraTech set to acquire Century Textiles' cement business21 May 2018, Published under Cement NewsUltraTech has announced plans to acquire the cement sector of Century Textiles through a share swap deal, which will further strengthen its presence in the eastern and central markets of India. The deal is expected to be completed within 6-9 months following regulatory approval and will increase the efficiency of the company. "The operations will be bolstered by economies of scale arising out of synergies in procurement and logistics costs; creation of efficiencies by reducing time to mar... |
UltraTech Cement secures Madhya Pradesh limestone reserves21 May 2018, Published under Cement NewsAditya Birla group firm UltraTech Cement said it has acquired the Deora-Sitapuri-Udipyapura limestone mining block in Madhya Pradesh (MP). UltraTech Cement said the land is in close proximity to its existing limestone mines of the company's recently-commissioned unit Dhar Cement plant. The company has won the Deora-Sitapuri-Udipyapura limestone mining site in the State of Madhya Pradesh, UltraTech Cement said in a Bombay Stock Exchange filing. "This mining block is spread over 344.783ha of... |
The CMA calls on the government to lower tax on cement18 May 2018, Published under Cement NewsIndia's Cement Manufacturers' Association (CMA) has argued that cement should be brought under the lowest Goods and Services Tax (GST) slab. It currently attracts 28 per cent, the highest slab on a par with luxury goods in India. Speaking at the 14th Green Cementech 2018, the CMA claims that by lowering the GST, it will lower costs and aid cement demand. Philip Mathew, co-chairman of Green Cementech 2018 and chief manufacturing officer of ACC Ltd, said various cement manufacturers have... |