Cement News tagged under: indian sub-continent
Ramco Cements posts 40% increase in net profit04 November 2020, Published under Cement NewsIndia’s Ramco Cements has reported a 40 per cent YoY increase in net profit to INR2.36bn (US$31.69m) for the second quarter of the FY20-21. However, revenue was down 4.6 per cent to INR12.65bn from INR13.26bn in the corresponding period of the previous fiscal. EBITDA surged 48 per cent YoY to INR4.5bn from INR3.04bn, on the back of improved margins. During the quarter, the stability in cement prices, improved sale of its flagship products and premium products in the trade segment played ou... |
India: beyond the headwinds03 November 2020, Published under Cement NewsIndia has become the second-worst affected country by the COVID-19 health crisis. Consequently, construction activity has taken a hit and cement demand saw a dramatic collapse in the April-June 2020 quarter. As the pandemic continues to play out, ICR assesses the impact on domestic cement producers and prospects for recovery. As COVID-19 exerts unprecedented stress on India’s cement industry, ICR looks at the latest available data to date for the April-June 2020 period and... |
Pakistan records 33% growth in October cement dispatches03 November 2020, Published under Cement NewsPakistan's domestic and overseas cement dispatches figures for October 2020 are officially yet to be released by the All Pakistan Cement Manufacturer Association (APCMA), but Lucky Cement Ltd's CEO, Mohammad Ali Tabba, has estimated a record growth to 5.7Mt, increasing from 4.4Mt in September 2020. The MoM rise of 29.5 per cent in dispatches in October was possible due to the increase in domestic and export demand as well as the speedy momentum in Pakistan's economy. During an intervi... |
Power Cement sees net sales surge 459%03 November 2020, Published under Cement NewsPakistan’s Power Cement saw its net sales surge 458.9 per cent YoY in the quarter ending 30 September 2020, rising to PKR3.26bn (US$20.36m) from PKR583m. However, the company has also reported a loss after tax of PKR170.78m against a PKR7.9m profit in the corresponding period of the previous fiscal. |
Fecto Cement records 21% rise in net sales30 October 2020, Published under Cement NewsPakistan’s Fecto Cement saw its net sales advance 20.5 per cent YoY to PKR1.08bn (US$6.76m) in the third quarter of 2020, against PKR897.7m in the year-ago period. The company also announced a contraction in its loss after tax to PKR39.35m from PKR52.9m in the 3Q19. |
Kohat Cement Co announces US$21.67m expansion programme27 October 2020, Published under Cement NewsKohat Cement Co Ltd (KOHC) in Pakistan announced a big expansion programme in the north of the country at an estimated cost of PKR3.5bn (US$21.67m). KOHC will implement three projects at the plant site in Kohat in Khyber Pakhtunkhwa. The company is setting up a 16.2MW coal-fired boiler at an estimated cost of PKR1.04bn. This will result in energy cost savings and availability of other power sources, the company believes. KOHC is also to undertake construction of a 6700tpd production l... |
Ambuja Cements reports 51% increase in net profit23 October 2020, Published under Cement NewsIndia’s Ambuja Cements reported a 50.5 per cent YoY rise in consolidated net profit to INR8.04bn (US$109.15m) for the July-September quarter this year, compared to INR5.34bn during the year-ago period. Standalone profits also surged 88 per cent YoY to INR4.41bn, mainly on account of the company’s cost reduction programmes and volume growth. "Robust improvements in operational efficiency and cost reduction programmes coupled with volume growth, have led to an earnings increase for the quarte... |
Gharibwal Cement sees revenue advance 27% YoY23 October 2020, Published under Cement NewsPakistan’s Gharibwal Cement has reported a 27 per cent YoY rise in unaudited revenue for the quarter ending 30 September 2020, increasing to PKR2.6bn (US$16.19m) from PKR2.06m. The company also returned to a net profit of PKR263.3m from a PKR235.3m loss in the July-September 2019 period. |
Clinker handling resumes in Bangladesh23 October 2020, Published under Cement NewsHandling of imported clinker and other raw materials for cement industry resumed at the ports of Chittagong and Mongla, Bangladesh, following the withdrawal of indefinite strike by workers of goods-carrying river vessels on Thursday. This was announced after the vessel owners assured them of giving food allowance, as they demanded during a meeting with State Minister for Labour and Employment, Begum Monnujan Sufian, at the secretariat on the evening of 22 October. Around 200,000... |
UltraTech Cement records net sales of INR102.31bn in 2QFY2122 October 2020, Published under Cement NewsUltraTech Cement Ltd (Aditya Birla group) announced earned consolidated net sales of INR102.31bn (US$1.389bn) in 2QFY21 compared to INR94.86bn in 2QFY20. Profit after tax was INR1234m for the financial period ended 30 September 2020. On a standalone basis, net sales stood at INR98.95bn in 2QFY21 compared to INR91.23bn in 2QFY20. Profit before interest, depreciation and tax in 2QFY21 was INR26,990m and profit after tax was INR12,090m. Operating margins reached 27 per cent and for t... |