Cement News tagged under: indian sub-continent
Bestway Cement posts 6% rise in FY23-24 sales16 August 2024, Published under Cement NewsChairman of Bestway Cement Ltd , Sir Mohammed Anwar Pervez, stated that despite all the challenges, Bestway increased its market share in Pakistan and achieved a growth of six per cent in sales volumes, outperforming the industry growth of 1.6 per cent. The main factor behind the development was attributed to the company's two new production lines at Hattar and Mianwali, which became operational during the FY22-23. According to the annual report for 2024, Bestway Cement has achieved signif... |
UltraTech chairman outlines company's growth15 August 2024, Published under Cement NewsUltraTech 's Chairman, Kumar Mangalam Birla, summarised the progress of the company and its plans for future growth and development, at the company's 24th AGM. In April 2024 UltraTech marked a historic milestone of 150Mta + production capacity. This capacity surpasses 150 per cent of the capacity in the USA and constitutes 80 per cent of Europe's capacity. “With the completion of the ongoing expansion projects across India by FY27, and receipt of statutory approvals for the rec... |
Lucky Cement saw a significant profit rise in FY23-2412 August 2024, Published under Cement NewsLucky Cement Ltd posted its financial results for the 4QFY23-24 (April-June 2024) and FY23-24 (July 2023-June 2024) on the Pakistan Stock Exchange (PSX) website on 9 August, where it reported unconsolidated earnings of PKR28.107bn (US$100.9m), showcasing a jump of 105 per cent YoY. On a quarterly basis, net profit improved to PKR9.458bn compared to PKR2.59bn in the same period last year, a 265 per cent YoY rise. That said, consolidated earnings advanced by 34 per cent YoY, settling a... |
Kiln Services Pvt Ltd completes Ambuja ball mill project12 August 2024, Published under Cement NewsKiln Services Pvt Ltd has executed a cement ball mill job for Ambuja Cement Ltd’ s Roorkee plant ( Adani Cement group ). The job has been carried out within the stipulated time and the ball mill started and is running successfully without any abnormalities. The scope of work at Roorkee includes replacement of locating ball mill tyre, reversal of girth gear and alignment, plus replacement of pinion with bearing. |
Pakistan companies start posting financial results on PSX12 August 2024, Published under Cement NewsTop cement companies in Pakistan will begin releasing their financial results for the last quarter (April-June 2024) on the Pakistan Stock Exchange (PSX) website. The Topline Cement Universe, which includes Lucky Cement , Kohat Cement , Fauji Cement , DG Khan , and Maple Leaf Cement, is expected to post profitability of PKR12.5bn (US$44.9m) in the 4QFY23-24 against a profit of PKR11.1bn in the 3QFY23-24, up by 13 per cent QoQ due to higher average retention prices. This will take FY23-... |
UltraTech receives 5-star ratings for 12 of its mines09 August 2024, Published under Cement NewsA total of 12 of UltraTech Cement Ltd’s limestone mines have been rated five-star for FY22-23 by Indian Bureau of Mines. The awards were given out on 7 August 2024 in New Delhi by the Union Minister of Coal and Mines, Shri G Kishan Reddy. At the programme marking the event, the minister congratulated UltraTech for its performance in all aspects of mining and contributing to India’s mining sector. The award ceremony was also graced by the Minister of State for Coal and Mines, Shri Satish Cha... |
Pakistan's cement industry grapples with local tax issues08 August 2024, Published under Cement NewsPakistan’s cement industry is grappling with local tax measures announced in the Federal Budget 2025 amid falling local demand and has sought the intervention of the federal government to rescue the industry. In an appeal to the Prime Minister of Pakistan, Shehbaz Sharif, the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, and the Chairman of the Federal Board of Revenue (FBR) Government of Pakistan, Malik Amjed Zubair Tiwana, All Pakistan Cement Manufacturers Associati... |
Maple Leaf Cement is diversifying into the Pakistan fertiliser business02 August 2024, Published under Cement NewsMaple Leaf Cement Factory Ltd (MLCF) has entered the lucrative Pakistani fertiliser business. According to the company’s notification to the Pakistan Stock Exchange (PSX) on 29 July, MLCF plans to enter the sector through the acquisition of additional shares and control of Agritech Ltd (AGL), a fertiliser plant located north of Mianwali City in Punjab that produces and sells urea and granulated Single Superphosphate. According to IMS Research, it is important to note that MLCF, along with... |
Pakistan expects local cement dispatches to fall in July 202431 July 2024, Published under Cement NewsPakistan's local cement dispatches are likely to fall 24-26 per cent YoY and 32-34 per cent MoM to clock in at around 2.08Mt in July 2024. This was roughly estimated by BMA Capital Management Ltd, which further adds that local cement dispatches on a YoY basis are down due to a slowdown in construction activities courtesy of higher cost of construction, plus muted government spending on infrastructure due to fiscal constraints, as well as the implementation of axle load. Furthermore, the M... |
Pakistan's bagged cement export revenue reaches US$266.51m in FY23-2425 July 2024, Published under Cement NewsPakistan’s cement and clinker exports increased by 40.4 per cent to US$266.51m in the FY23-24 (July 2023-June 2024), from US$189.87m in the FY22-23, according to Pakistan Bureau of Statistics (PBS) data. In Pakistani rupee terms, export revenue saw a significant growth of 57.8 per cent to PKR75.46bn during the period, sustained by the local currency’s stable competitive rates against the US dollar, improving margin in the international market against a lull in domestic demand. Export volumes... |