Cement News tagged under: india
Orient Cement posts 246% YoY rise in profit04 August 2021, Published under Cement NewsIndia’s Orient Cement has posted a 17 per cent QoQ decline in operating revenue to INR6.9bn (US$92.95m) in the first quarter of FY21-22, compared with INR8.32bn in the previous quarter. EBITDA also slipped 8.5 per cent QoQ to INR1.85bn, while profit after tax was down 10 per cent to INR886m. However, on a YoY basis, the company’s profit after tax more than doubled from INR256.1m in the 1QFY20-21. "The cement industry is expected to witness a volume growth due to demand revival in infrastruc... |
Ambuja Cements plans 1.5Mta Ropar expansion02 August 2021, Published under Cement NewsIndia’s Ambuja Cements has announced plans to expand capacity at its Ropar plant in Punjab over the next two years, representing an investment of INR3.1bn (US$41.68m). The 1.5Mta project is expected to be completed by June 2023 with the grinding unit reaching a total capacity of 4.5Mta. "We are optimistic about the growth in demand for cement in India. The expansion of our Ropar unit along with more investment in the coming years will help us unlock fresh opportunities by debottlenecking e... |
JSW Cement partners with new investors to accelerate growth29 July 2021, Published under Cement NewsIndia-based JSW Cement has entered into definitive agreements to raise up to INR15.000bn (US$201.2m) from two global private equity investors, Apollo Global Management Inc (through its managed funds) and Synergy Metals Investments Holding Ltd. The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being issued to the investors and the conversion of such CCPS into common equity of the company will be linked to the company’s ... |
Shree Cement about to start building West Bengal grinding plant29 July 2021, Published under Cement NewsShree Cement is preparing to start work on its INR6bn (US$80.5m) grinding unit in Bengal within a month. The new plant will have a cement grinding capacity of 3Mta which will raise the group’s cement capacity to 47Mta when complete. "This will be our first plant in Bengal. In the east, we have plants in Odisha, Chattishgarh, Bihar and Jharkhand," said H M Bangur, Shree Cement’s MD. Mr Bagur added that business is reviving well in Bengal, "The growth in the state is higher than the nat... |
Ambuja Cement records net sales of INR33.4bn26 July 2021, Published under Cement NewsAmbuja Cement recorded net sales of INR33.420bn (US$448.9m) in the April-June 2021 quarter 2021, up from INR21.450bn in the same period last year. Sales volumes for the 2Q21 reached 6.33Mt up from 4.19Mt in the 2Q20. EBITDA rose substantially in the 2Q21 to INR9600m, up 61 per cent from INR5950m recorded in the same period last year. Profit after tax amounted to INR7230m in 2Q21, up from INR4530m in the 2Q20. Neeraj Akhoury, CEO India of Holcim and Managing Director and CEO of Ambuja ... |
UltraTech Cement announce net sales of INR116.9bn23 July 2021, Published under Cement NewsUltraTech Cement Co reported that its consolidated net sales in 1QFY22 reached INR116.9bn (US$1.57bn) compared to INR76bn over the corresponding period of the previous year. Profit before interest, depreciation and tax was INR35,120m compared to INR23,570m. Profit before tax was INR25,270m and profit after tax was INR17,030m compared to INR11,530m and INR7940m, respectively. Production costs during the quarter increased 11 per cent YoY, mainly on account of higher fuel prices. Th... |
Nuvoco Vistas receives approval for its IPO22 July 2021, Published under Cement NewsNuvoco Vistas Corp Ltd has received approval of capital markets regulator Sebi to launch its INR15bn (US$679.35m) initial public offering (IPO). The Indian cement producer has a current cement capacity of 22.32Mta and operates 11 plants with units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana. Nuvoco Vistas, formerly Lafarge India Ltd, acquired Emami Cement in February 2020. |
ACC Ltd records 2Q21 profits after tax of INR5.69bn20 July 2021, Published under Cement NewsACC Ltd (Holcim group) has reported 2Q21 profits after tax of INR5.69bn (US$76m) up from INR2.71bn in 2Q20. In the April-June 2021 period under review, ACC Ltd recorded an EBITDA of INR8.69bn and net sales of INR38.1bn. Profit before tax reached INR7.58bn in the 2Q21, up from INR4.03bn in 2Q20. Sales volumes of cement reached 6.84Mt in the 2Q21, up from 4.76Mt in the 2Q20. Half-year sales volumes of cement reached 14.81Mt, up from 11.32Mt in the same period last year. Sridhar Bala... |
Mangalam Cement sees 57% rise in sales19 July 2021, Published under Cement NewsIndia’s Mangalam Cement has reported a 57.1 per cent rise in sales to INR3.55bn (US$47.52m) in the quarter ending June 2021, compared to INR2.26bn in the year-ago period. Net profit also increased 189.4 per cent YoY to INR399.4m from INR138m in the corresponding period of the previous fiscal. |
Shree Cement to open 3Mta Pune grinding plant in September19 July 2021, Published under Cement NewsShree Cement's 3Mta clinker grinding unit at Patas, Pune district in Maharashstra, India, is now expected to be completed soon with commercial production to commence in September, according to company official. The western Indian expansion, which sits on a 26.6ha plot, had been delayed due to the impact of the COVID-19 pandemic and right-of-way issues. The project, which represents an investment of over INR6bn (US$80.39m), will receive clinker from its group plant in Karnataka. In 2020... |