Cement News tagged under: india
JK Lakshmi reports 62% rise in standalone net profit17 May 2018, Published under Cement NewsJK Lakshmi Cement reported a 62.3 per cent YoY rise in standalone net profit to INR338.4m (US$4.99m) in the 4Q18. The company’s total income saw a slight decrease of 0.8 per cent to INR9.23bn, compared with INR9.31bn seen in the year-ago period. However, the company has stated the results in the two periods are not comparable. "With introduction of GST, revenue from operations for current quarter and year are not comparable with corresponding quarter and year, since sales in current ye... |
Mangalam Cement records 8% sales increase in FY1816 May 2018, Published under Cement NewsIndia’s Mangalam Cement Ltd has reported a one per cent YoY increase in net sales for the quarter ending 31 March 2018, rising to INR3.102bn (US$45.76m) from INR3.072bn. Net profit advanced 29.7 per cent to INR45m, compared with INR34.7m of the year-ago period. In the FY18, the company’s net sales surged 7.9 per cent YoY to INR11.49bn (FY17: INR10.66m). However, net profit saw a significant fall of 68.9 per cent to INR113.8m (FY17: INR360.6m). |
JK Cement doubles net profit to INR964.5m15 May 2018, Published under Cement NewsJK Cement's net profit more than doubled to INR964.5m (US$14.2m) for the fourth quarter ended March 2018. The company had posted a net profit of INR425.7m in the same quarter of the previous fiscal. The cement producer's total revenue during the quarter under review stood at INR13.69bn, up from INR12.55bn in the year-ago period. In the quarter under review, JK Cement reported tax expenses of INR265.3m as against INR745.8m in the corresponding quarter a year ago. For the fiscal year... |
LafargeHolcim replaces 17km-long conveyor15 May 2018, Published under Cement NewsLafargeHolcim Bangladesh Ltd has completed the replacement of its 17km-long conveyor belt in an effort to reduce noise emissions. The belt was originally installed in 2004 and connects its limestone mine in India to its plant in Surma, Bangladesh. The replacement project was completed in two phases and finished on 18 April, according to Harpal Singh, project head of operations at the Surma plant. "We have finished the replacement work one day ahead of the schedule," said Mr Singh. ... |
Star Cement receives government subsidies to reduce debt10 May 2018, Published under Cement NewsStar Cement has received INR2bn (US$29.7m) towards a subsidies claim from the central government. The company intends to use the amount to further reduce its debt. Earlier in April company had received IN800m (US$11.8m) of subsidies and also used it for debt reduction. The total debt for the company following the payment of INR800m is expected at INR3200m, including long-term and short-term loans. The debt will further come down significantly as the company intends to utilise the entire am... |
Sanghi Cement gets environmental clearance for Abdasa08 May 2018, Published under Cement NewsSanghi Cement has received environmental clearance for its capacity expansion project at Abdasa, Kutch district, India. The cement producer is currently boosting cement capacity from 4Mta to 8.6Mta and lifting its clinker capacity from 3.5Mta to 7.5Mta. The INR13bn (US$193.7m) investment also includes the establishment of a grinding facility at Surat. "We raised finance for the project sometime back and one of the fund raising conditions was that the company would have get environment... |
Orient Cement announces 4% revenue increase04 May 2018, Published under Cement NewsIndia's Orient Cement (OCL) has announced a 3.9 per cent YoY increase in revenue for the final quarter of FY18, rising to INR6.2bn (US$92.79m) from INR5.97bn. However, this was below estimates of 15 per cent YoY growth, according to an IIFL report. Net profit fell 22.5 per cent to INR128m, compared to INR165m of the year-ago period. The results have been partially attributed to weak demand in the southern market, which resulted in a capacity utilisation rate of below 85 per cent. Furthermo... |
MP backs new cement plant for Chamba district04 May 2018, Published under Cement NewsShanta Kumar, Member Parliament, of the BJP has stated that the demand for a cement plant in the Chamba district of Himachal Pradesh, India, should soon be met. He hopes plans will be fulfilled by October this year. The plant is likely to be established in the Sikridhar area. The state has 12 districts with Chamba sharing borders with Punjab and Jammu and Kashmir. With not much income sources in the area, Chamba has been ranked at 90 and 95 positions for education and infrastructure, respe... |
Growth of Indian cement sector slows in March02 May 2018, Published under Cement NewsThe growth of Indian cement output has slowed in March to 13 per cent, compared to 23 per cent of the previous month. However, the cement sector was one of the principal performers throughout FY18, according to Aditi Nayar, principal economist at ICRA. "Cement output expanded by a five-year high [of] 6.3 per cent in FY18, marking a turnaround relative to the contraction of 1.2 per cent in FY17. Moreover, cement was the fastest growing of the eight core sectors in FY18. Increased budgetary... |
UltraTech moves closer to plant operation02 May 2018, Published under Cement NewsIndia-based UltraTech Cement has moved closer to commencing operations at its plant in Sonbhadra, Uttar Pradesh. The facility, initially owned by JP Associates (JPA), can only begin operations once certain environmental conditions are met. In line with a state cabinet decision, UltraTech can start production once JPA pays a penalty for mining on forested land. JPA will need to purchase an equal quantity of land and maintain a plantation on it for 10 years, according to The Times of India.... |