Cement News tagged under: india
Star Cement posts net profit rise18 May 2022, Published under Cement NewsStar Cement Ltd saw a 24.2 per cent advance in revenues to INR7.49bn (US$96.6m) in the January-March 2022 quarter from INR6.03bn in the corresponding period of the previous year. The company’s net profit increased 3.6 per cent to INR884.2m in the 1Q22 from INR853m in the 1Q21. |
Government looks to dispose of Adilabad cement plant18 May 2022, Published under Cement NewsIt may soon be the end for the Cement Corporation of India ’s Adilabad plant as the government has taken initial steps for its disposal. Online electronic bids are being invited for the appointment of valuers for the valuation of assets required for the disposal of the plant, machinery along with plant’s structure, store and scrap and dismantling at its cement factories in Akaltara and Mandhar (both in Chhattisgarh), Kurkunta (Karnataka), Nayagaon (Madhya Pradesh) and Adilabad in Telanga... |
Adani Group acquires Holcim India16 May 2022, Published under Cement NewsAdani Group has agreed to purchase Holcim India for CHF6.4bn (US$6.37bn). The deal includes Holcim’s 63.11 per cent stake in Ambuja Cement, which owns a 50.05 per cent interest in ACC, as well as its 4.48 per cent direct stake in ACC. The combined footprint of Ambuja Cement and ACC includes 31 cement production sites with a total cement production capacity of 66Mta and 78 ready-mixed concrete plants across India. The transaction is expected to complete in the second half of 2022. “Wit... |
Dalmia Cement (Bharat) Ltd will expand Belagavi cement plant12 May 2022, Published under Cement NewsDalmia Cement (Bharat) Ltd is expanding its existing manufacturing plant at Belagavi in north Karnataka by investing INR3000m (US$38.3m). The company expects the investment to create up to 700 new jobs by March 2024. “We plan to invest INR2000m to INR3000m in the next two years towards manufacturing expansion, in terms of enhanced production capabilities, and renewing our energy commitment by planning a solar power capacity installation of 9MW to reduce electricity consumption by half... |
JSW Group to submit bid for Holcim India11 May 2022, Published under Cement NewsJSW Group has revealed plans to submit a US$7bn bid for a controlling stake in Holcim’s India assets. Holcim currently holds a 63.1 per cent share in Ambuja Cements and a 4.48 per cent share in ACC , with Ambuja controlling a 50.05 per cent stake in ACC. Speaking to Financial Times, Sajjan Jindal, chairman and managing director of JSW Group, said that the company would fund US$4.5bn of the bid while private equity players would provide the remaining US$2.5bn. JSW Group currently ... |
Dalmia Bharat Ltd records rising sales volumes of 22.2Mt in FY2211 May 2022, Published under Cement NewsDalmia Bharat Ltd reported its FY22, for the period ending 31 March 2022, with sales volumes reaching 22.2Mt compared to 20.7Mt in FY21. The company’s EBITDA totalled INR112,860m (US$1461m) in the FY22 up from INR101,100m in the FY21. However, Dlamia Bharat’s profit after tax reached INR11,600m compared to INR11,860m in the FY22. Dalmia Bharat’s 4QFY22 sales totalled 6.6Mt compared to 6.4Mt in the 4QFY21. EBITDA in this period totalled INR6830m down from 7680m in the 4Q21. Profit after ... |
India champions blended cements06 May 2022, Published under Cement NewsIndia's production of ordinary Portland cement (OPC) continues to fall as the manufacture of blended cements, such as Portland pozzolana cement (PPC), Portland slag cement (PSC) and composite cements based on granulated blastfurnace slag and fly ash, increase on the back of strong demand. Blended cements currently account for 73 per cent of total cement production in India, compared to 27 per cent for OPC, according to the recent GCCA India report, ‘Blended cement - green, durable & sustain... |
Tamilnadu Cements to build new grinding unit04 May 2022, Published under Cement NewsTamilnadu Cements has revealed plans to build a new grinding plant at Alangulam, in Tenkasi district, Tamil Nadu, India. The new unit, which will cost US$5.23m, will serve the nearby Arasu cement plant, according to The Hindu newspaper. With construction expected to take 10 months, the new facility will double capacity from 0.28Mta to 0.56Mta, helping to meet huge demand in the southern districts and boosting production of Tamilnadu Cement's Valimai brand, which the company has sold ... |
Dalmia Bharat joins the Holcim India race03 May 2022, Published under Cement NewsDalmia Bharat Ltd is reportedly planning to bid for Holcim’s India businesses. According to sources close to Dalmia, the company is in talks with banks to secure financing for the bid which would add almost 65Mta of capacity to Dalmia’s existing 35Mta. UltraTech Cement, part of the Aditya Birla Group, is also planning to join the race for the Holcim assets - ACC Ltd and Gujarat Ambuja Ltd – but is concerned that its current capacity of almost 120Mta may come up against resistance fro... |
UltraTechCement Ltd reports consolidated sales of INR155bn in 4QFY21-2202 May 2022, Published under Cement NewsUltraTech Cement Ltd has announced its financial results for the 4QFY21-22 and year ended 31 March 2022. The company reported consolidated net sales of INR155,570m (US$2035m) in the 4QFY21-22 versus 142,320m over the corresponding period of the previous year. Profit before interest, depreciation and tax in the 4QFY21-22 was INR31,650m compared to INR37,510m in the corresponding period of the previous year. Normalised profit after tax was INR14780m in the 4QFY21-22 compared t... |