Cement News tagged under: india
Birla Corp considers Maharashtra plant investment02 August 2017, Published under Cement NewsBirla Corp is planning a 4Mta cement plant in Mukutban, in the state of Maharashtra, Chairman Harsh V Lodha told reporters on the sidelines of company’s Annual General Meeting. The cement producer has already acquired land for the project and the proposal will be put to the company’s board for approval. The investment will be financed by a combination of debt and internal accruals. The project is a revival of plans shelved by Reliance Infrastructure whose cement interests were acquired ... |
India Cement’s net profit slips as demonetisation and GST hit31 July 2017, Published under Cement NewsThe latent effect of India’s demonetisation, a halt in cement sales ahead of the newly-introduced Goods and Services Tax (GST) roll-out and a severe shortage of river sand in Tamil Nadu, combined to put pressure on India Cements Ltd (ICL)’s profit in the April-June 2017 quarter. ICL’s profit after tax decreased to INR264.4m (US$4.12m) in the first quarter from INR439.8m in the year-earlier period. The company reported a total income of INR14.66bn in the quarter (from INR12.06bn). The... |
Binani Cement insolvency petition by Bank of Baroda admitted by NCLT26 July 2017, Published under Cement NewsThe Kolkata bench of the National Company Law Tribunal (NCLT) on Tuesday admitted an insolvency petition against Binani Cement based on a referral by one of its lenders, Bank of Baroda, after the cement company failed to repay a sum of INR970m. Bank of Baroda has appointed Vijaykumar V Iyer of Deloitte India as the interim resolution professional (IRP) to oversee the insolvency process. According to a report by the Financial Express (India) the company owes a consortium of lenders cl... |
Ambuja Cements reports 2Q sales rise25 July 2017, Published under Cement NewsAmbuja Cements reported an 11.7 per cent increase in net sale in the 2Q17 as cement volumes and price realisations improved. The pan-Indian cement producer said net sales reached INR28.23bn versus INR25.28bn in the 2Q16. Cement volumes increased to 6.05Mt in the quarter under review compared to 5.76Mt in the April-June 2016 period. For the first six months of 2017, volumes rose to 12.07Mt, up 3.9 per cent YoY. Operating EBITDA for the quarter stood at INR6.51bn versus INR5.98bn in the ... |
New Salboni cement plant launched by JSW Cement21 July 2017, Published under Cement NewsJSW Cement, part of the JSW Group, has launched its state-of-the-art Salboni cement plant in Bengal. The largest cement plant of its kind in the state, the facility has a cement capacity of 2.4Mta and will produce premium Portland Slag Cement (PSC) grade cement. JSW Cement has targeted the eastern markets gain market share. JSW Cement will market its brand through a TVC campaign. This will be the largest ad spend by any cement brand in the eastern part of India, claims Millenium Port... |
Indian market to expand 5% in FY17-1821 July 2017, Published under Cement NewsInfrastructure and housing are expected to drive India’s cement demand in FY17-18. Consumption is forecast to increase five per cent YoY as growth accelerates from 1.2 per cent in FY16-17, according to Business Line. In FY16-17 output fell to 279.8Mt as demonetisation affected the market and saw sales volumes decrease by nine per cent between November 2016 and March 2017. However, the market picked up in April, bouncing back with a growth of 17 per cent and supported by rising prices as t... |
UltraTech to build Madhya Pradesh plant20 July 2017, Published under Cement NewsIndian cement major UltraTech plans to establish an integrated cement plant in Madhya Pradesh with a capacity of 3.5Mta. "The board has approved a greenfield integrated cement plant at Dhar in Madhya Pradesh with a capacity of 3.5Mta. The plant will involve an investment of INR2600 crore [US$403m] and is likely to being commercial production by the fourth quarter of FY19," UltraTech chairman, Kumar Mangalam Birla, said during the company's 17th annual general meeting. The new plant will... |
UltraTech sees profit growth in 1QFY1819 July 2017, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla Group Company, yesterday announced its unaudited financial results for the quarter ended 30 June, 2017. The results include those of the cement plants of Jaiprakash Associates Ltd (JAL) and Jaypee Cement Corporation Ltd (JCCL) acquired in terms of a Scheme of Arrangement effective 29 June 2017. Net sales for the period stood at INR69.38bn as compared to INR65.35bn in the corresponding period of the previous year. Profit before interest, depreciation an... |
Ambuja Cement secures Maharashtra limestone resources10 July 2017, Published under Cement NewsAmbuja Cement has secured a limestone resources of 42Mt in the state of Maharashtra through an e-auction by the state government. The LafargeHolcim company participated in the e-auction for a limestone block for Nandgaon Ekodi Limestone Block in Chandrapur district at a final bid price of 125.05 per cent of value of mineral dispatched. |
Bangladeshi exports earn US$9.58m in 11MFY16-1707 July 2017, Published under Cement NewsThe Bangladeshi cement industry earned an export revenue of US$9.58m during the first 11 months of FY16-17 compared to US$1.85m in corresponding months in a year ago. The export figure also includes a minor amount of salt, stone and related products, but the country’s export promotion bureau has welcomed the rise in cement exports. The figure substantially exceeds the government’s export target of US$2m for FY16-17, slightly down YoY from US$2.17m. India is the main destination of Ba... |