Cement News tagged under: india
Kakatiya Cement returns to black in 2QFY23-2406 November 2023, Published under Cement NewsIndia-based Kakatiya Cement Sugar & Industries reported a standalone net profit of INR18m in the 2QFY23-24 when compared to a net loss of INR49.9m in the year-ago period. Operating income increased by 107.3 per cent to INR5.3m in the 2QFY23-24 from an operating loss of INR72.8m. Operating expenses during the 2Q fell by 9.2 per cent YoY to INR372m from INR409.7m in the previous year’s equivalent period. Net revenue increased by 12 per cent to INR377.3m when compared with INR336.9m in the ... |
Ambuja Cement reports quadrupling 2Q profit02 November 2023, Published under Cement NewsAmbuja Cements , part of Adani Cement Industries , saw profit quadruple in the 2QFY23-24 to INR6440m (US$77.4m) from INR1390m in the year-ago quarter. The company’s revenue advanced eight per cent YoY to INR39,700m in the 2QFY23-24 while cement and clinker sales volumes advance seven per cent to 7.6Mt. Ambuja Cements saw its expenses decline by two per cent YoY with fuel costs down by nearly a third. As a result, EBITDA improved by nearly 150 per cent to INR7740m and the EBITDA margin ... |
India Cements narrows 2Q loss02 November 2023, Published under Cement NewsThe India Cements Ltd reported a lower net loss of INR810m (US$9.7m) in the 2QFY23-24 compared with a net loss of INR1380m in the year-ago period. EBITDTA for the 2QFY23-24 reached INR140m vs -INR870m in the 2QFY22-23, with the company seeing a net profit for the coming quarters, as price realisations improve and cost pressures soften. Total income slipped 2.5 per cent to INR12.28bn in the 2QFY23-24 from INR12.59bn in the year-ago period. Cement volumes increased 5.1 per cent to 2.37Mt i... |
Udaipur Cement reports revenue growth in September quarter27 October 2023, Published under Cement NewsIndia’s Udaipur Cement Works Ltd (UWCL) has reported total revenue of INR2695.2m (US$32.38m) in the quarter ended 30 September 2023, marking an increase from the INR2464.7m seen in the previous quarter and INR2205m recorded in the same quarter a year earlier. Net profit after tax for the September 2023 quarter came in at INR121.5m, compared to INR42.1m in the previous quarter and INR21.8m in the September 2022 quarter. Earnings per share increased from INR0.07 in the quarter ended 30 Se... |
ACC Ltd reports YoY rise in revenue27 October 2023, Published under Cement NewsIndia’s ACC Ltd has reported total income of INR46,425.3m (US$557.7m) in the quarter ended 30 September 2023, down from INR52,793.5m in the previous quarter but up from INR40,561.6m in the same period a year earlier. Profit after tax came in at INR3842.9m in the September 2023 quarter, compared to a INR4639.3m profit in the previous quarter but a loss of INR910.9m in the September 2022 quarter. Total expenses in the quarter ended 30 September 2023 came in at INR41,269.5m, down from INR4... |
Adani Cement completes refinancing package26 October 2023, Published under Cement NewsAdani Cement , through Endeavour Trade and Investment Ltd, announced the successful completion of its refinancing programme for acquisition debt taken for Ambuja Cements and ACC Ltd , through a US$3500m financing package, raised from a clutch of international banks. This showcases Adani's robust access to the global financial market and strong liquidity position, says the company. “This achievement reflects our commitment to financial stability and growth. This facility will res... |
Study reveals cost of decarbonising India's cement industry16 October 2023, Published under Cement NewsIndia’s steel and cement plants will require INR47trn (US$627bn) in additional capital expenditure (capex) to achieve net-zero carbon emissions, according to independent studies by the Council on Energy, Environment and Water (CEEW). The studies also suggest that both industries will require additional operational expenditure (opex) of INR1trn each year to go net zero. The study also found that an 8-25 per cent reduction in steel emissions and 32 per cent reduction in cement emissions is p... |
Adani reduces use of wholesalers10 October 2023, Published under Cement NewsIn a bid to boost profitability, Ambuja Cements Ltd and ACC Ltd has reduced the number of distributors it uses in the Gujarat region of India from 12 to three. The move is part of a trial by the Adani Group to reduce its reliance on distributors or wholesalers, reports Live Mint. According to local sources, the cement producers plan to build stronger relationships with retailers, the last point of sales for cement. For large bulk projects, such as a flyover, sales will also now be h... |
UltraTech Cement and Adani Cement alerted to Heidelberg's Indian divestment rumour05 October 2023, Published under Cement NewsUltraTech Cement ( Aditya Birla Group ), and the country’s second-largest cement producer, Adani Cement, may join the race along with Parth Jindal-led JSW Cement to acquire Heidelberg Material’s Indian operations, reports The Hindu. Heidelberg Materials has a cement manufacturing capacity of 13.4Mta across its Indian plants in Damoh (Madhya Pradesh), Yerraguntla (Andhra Pradesh), Sitapuram (Telangana), Ammasandra (Karnataka), Jhansi (Uttar Pradesh), Sholapur (Maharas... |
JSW Cement begins EV pilot project04 October 2023, Published under Cement NewsIndia-based JSW Cement has acquired five electric trucks from the Murugappa Group as part of a pilot project to transition to the use of EV trucks. According to JSW Cement, the trial is being carried out on the route of manufacturing operations in Andhra Pradesh and Karnataka. “JSW Cement has procured the current EV trucks from Murugappa Group. Upon successful completion of the pilot project, the company aims to transition to EV trucks to support its in-bound and out-bound logistics op... |