Cement News tagged under: india
Star Cement reports 18% decline in net profit07 February 2020, Published under Cement NewsIndia’s Star Cement has reported an 18.2 per cent decline in net profit to INR459.2m (US$6.4m) in the quarter ending 31 December 2019, compared with INR561.4m in the year-ago period. However, net revenue increased 6.9 per cent YoY to INR4.29bn from INR4.01bn. Operating expenses rose 15.6 per cent in the 3QFY19-20, reaching INR3.71bn from INR3.21bn. |
First Chair and Co-chair of GCCA India's CEO Committee announced07 February 2020, Published under Cement NewsMahendra Singhi, managing director and CEO of Dalmia Cement (Bharat) Ltd, and Nilesh Narwekar, CEO of JSW Cement, have been elected as the chair and co-chair respectively of the Global Cement and Concrete Association India (GCCA - India). The chair and co-chair have been appointed for the first two years (2020-22). Speaking at the GCCA India CEO meeting of the member companies in Mumbai, Benjamin Sporton, GCCA CEO, said: "I'm delighted to have overseen the first CEO meeting of the GCCA In... |
Sagar Cements reports 2% increase in production for January06 February 2020, Published under Cement NewsIndia’s Sagar Cements has reported a 1.7 per cent YoY increase in standalone cement production for January 2020, rising to 228,455Mt from 224,607Mt in the year-ago period. Consolidated cement production improved 4.7 per cent to 316,657Mt from 302,558Mt. However, the company’s standalone cement sales were down three per cent to 224,271Mt from 231,208Mt in January 2019. Consolidated cement sales also fell 1.6 per cent YoY to 315,309Mt from 320,410Mt. |
Shree Cement to enter western India within six months05 February 2020, Published under Cement NewsShree Cement will enter the market of western India within the next six months when it commissions its 2.5Mta grinding plant near Pune, Maharashtra, according to the Business Standard. "It will be our maiden entry into Maharashtra and cater to demand for the western part of the state," said H M Bangur, managing director. The plant represents an investment of INR6.25bn (US$87.8m). Since the facility does not have access to limestone reserves, it will receive clinker from a Shree unit in Ko... |
CMA welcomes Union Budget infrastucture spending04 February 2020, Published under Cement NewsThe Cement Manufacturers Association (CMA) welcomed the major announcements on infrastructure, logistics, climate change and environment in the Union Budget 2020-21 presented by the India's Finance Minister, Nirmala Sitharaman. "The Government's commitment to invest over INR100 lakhs crore (US$1.4trn) in infrastructure will help fast track the projects that have been identified under the infrastructure pipeline. The focus on disaster resilient infrastructure in the budget is a move in the r... |
JK Cement commissions 2.5Mta of grinding capacity04 February 2020, Published under Cement NewsIndia's JK Cement has announced the successful commissioning of 1Mta of grey cement grinding capacity in Mangrol, Rajasthan, and 1.5Mta of the same in Aligarh, Uttar Pradesh. The company began commercial dispatches from the units on Monday, 3 February. Elsewhere, it has noted that the 0.7Mta split grinding unit project in Balasinor, Gujarat, is in an advanced stage of completion. |
Revati Cement plans 3Mta unit in Madhya Pradesh31 January 2020, Published under Cement NewsIndia’s Revati Cement has announced plans to set up a greenfield integrated cement plant in Satna, Madhya Pradesh. The project is expected to have a cement and clinker capacity of 3Mta and 2.5Mta, respectively, while also using a 45MW captive power plant. The company is reportedly awaiting environmental clearance for the project. |
Wonder Cement launches new grinding unit31 January 2020, Published under Cement NewsIndia’s Wonder Cement has launched operations at its new 2Mta grinding unit in Bhadnawar, Madhya Pradesh. This plant will be followed by the commissioning of another grinding unit in Jhajjar, Haryana, later this year, with both projects representing a total investment of INR8bn (US$112.09m). The clinker for the plant will be supplied from the company’s production facility in Nimbahera, Rajasthan. "Now, we will be able to supply our cement in the rest of Madhya Pradesh", said Vivek Patni, d... |
Birla Corp sees 200% rise in net profit31 January 2020, Published under Cement NewsIndia’s Birla Corp has announced a 200 per cent YoY increase in its net profit to INR810m (US$11.32m) for the 3QFY19-20, while revenue advanced 10.7 per cent to INR17.35bn. EBITDA climbed 44 per cent YoY to reach INR3.15bn for the period. Total sales by volume rose seven per cent YoY to 3.4Mt in the quarter ending December 2019. The company’s capacity utilisation also grew five per cent to 87 per cent. |
Ramco Cements records 5% revenue rise31 January 2020, Published under Cement NewsIndia’s Ramco Cements saw a 6.3 per cent YoY decline in standalone net profit for the quarter ending 31 December 2019, falling to INR950m (US$13.28m) from INR1.01bn. However, revenue increased 5.3 per cent YoY to INR12.86bn, while EBITDA also advanced 4.7 per cent to INR2.21bn. "During the current quarter, the company witnessed sluggish demand in its core markets coupled with pressure on prices due to active monsoon. Demand in eastern markets was more visible during the current quarter, bu... |