Cement News tagged under: India
Mangalam Cement sees net sales rise 3% in FY19-2018 June 2020, Published under Cement NewsIndia’s Mangalam Cement has reported net sales of INR3.04bn (US$39.79m) in the quarter ending 31 March 2020, a 7.9 per cent YoY decline compared to INR3.3bn in the 4QFY18-19. However, net profit surged to INR155.1m from INR16.7m. In the full FY19-20, total income advanced 2.8 per cent YoY to INR12.58bn from INR12.23bn in the previous fiscal year. The company also posted a net profit of INR759m against a net loss of INR97.3 in the FY18-19. |
JK Cement reports 4Q results and receives approval to raise INR2.5bn18 June 2020, Published under Cement NewsIndia’s JK Cement has reported a 99.9 per cent decline in net profit to INR2.3m (US$30,194) in the final quarter of FY19-20, compared with INR1.5bn in the year-ago period. Net revenue edged up to INR14.78bn from INR104.71bn in the 4QFY18-19. Operating expenses dropped 6.7 per cent YoY to INR11.31bn from INR12.12bn. The company has also received approval to raise funds through the issuance of secured non-convertible debentures in one or more tranches for an amount up to INR2.50bn, within t... |
JSW Cement delays expansion and listing plans16 June 2020, Published under Cement NewsIndia’s JSW Cement has deferred its expansion plans by around 6-12 months and further delayed its listing on the bourses. The company’s plans would have seen it reach 25Mta of capacity by 2023. "As a result of the current economic situation, our expansion plans are being deferred by six to 12 months. But these will happen for sure," said Nilesh Narwekar, CEO of JSW Cement. "As of now, we do not need to raise capital and the current economic situation is also not conducive. We want to h... |
Dalmia Bharat posts 4Q net profit of INR240m16 June 2020, Published under Cement NewsDalmia Bharat reported a consolidated net profit of INR240m (US$3.2m) for the fourth quarter ended 31 March 2020. The company posted a net profit of INR2.63bn in the January-March quarter of the previous financial year, the company said in a regulatory filing. However, it cautioned against comparison of the latest results with the previous period as it has shifted to AS 116 standards from 1 April 2019. Dalmia Bharat’s revenues from operations was INR24.93bn in the 4QFY19-20, down from IN... |
Telangana producers asked to cut prices15 June 2020, Published under Cement NewsTelangana’s Minister of Municipal Administration, KT Rama Rao, and Prashanth Reddy held a meeting with cement industry leaders to ask them to reduce prices to INR230/bag so that the real estate sector in the Indian state could be stimulated faster. Cement companies have reportedly been providing cement at this price since 2016 and the government has requested that the same price be maintained for next three years, according to The Hans India. The cement representatives are expected to ... |
Saurashtra Cement shuts down kiln for maintenance08 June 2020, Published under Cement NewsIndia's Saurashtra Cement has shut down its kiln and all the relevant downstream equipment situated at its Ranavav plant, Gujarat, for maintenance operations. The maintenance programme is expected to last for around 35-40 days, but this will depend on the condition of the equipment. However, the cement grinding and packing operations at the plant will continue to operate to meet the cement dispatch requirements. Therefore, no impact on the sales volume is anticipated. |
UltraTech Cement reduces capex plans to INR10bn in FY20-2105 June 2020, Published under Cement NewsIndia’s UltraTech Cement has announced that it will be restricting its capital expenditure plans to INR10bn (US$132.42m) during the current fiscal year, following the disruptions caused by the COVID-19 pandemic. "The company's capital and financial resources remain entirely protected in spite of the adverse impact on its sales during the first two phases of the lockdown. The company's liquidity position remains adequately covered," said the company in a regulatory filing. "Conserving cash ... |
Nuvoco Vistas Corp sets water and energy consumption goals05 June 2020, Published under Cement NewsJayakumar Krishnaswamy, managing director of Nuvoco Vistas Corp Ltd, announces new sustainability goals for the company on World Environment Day On the occasion of 'World Environment Day', Friday 5 June 2020, and considering Nuvoco's long term commitment to sustainability and environment care, Nuvoco Vistas Corporation Ltd reports that it has set a new goal in reducing its environmental footprint. Mr Jayakumar Krishnaswamy, managing director of Nuvoco Vistas Corp Ltd,... |
Birla Corp subsidiary opts for ABB Ability Expert Optimizer03 June 2020, Published under Cement NewsBirla Corp subsidiary RCCPL will employ ABB Ability™ Expert Optimizer and other digital technologies to maximise production at its new cement plant at Mukutban in Maharashtra, India. ABB will supply RCCPL with ABB Ability™ Expert Optimizer, an advanced process control solution for controlling, stabilising and optimising industrial processes, and which will allow the cement producer to increase production, minimise carbon footprint and reduce fuel consumption to meet energy usage goals. Bi... |
Sagar Cements sees 17% fall in revenue03 June 2020, Published under Cement NewsIndia’s Sagar Cements has reported a 94 per cent decline in consolidated net profit to INR11.8m (US$156,598) in the final quarter of FY19-20, compared to INR187.5m in the corresponding period of the previous fiscal. Revenue from operations fell 17 per cent to INR3.04bn from INR3.66bn in the 4QFY18-19. The results have been attributed to the impacts of the COVID-19 pandemic, which also affected logistics and labour movement, according to the company. |