Cement News tagged under: indian sub-continent
Indian cement demand recovers after lockdown26 June 2020, Published under Cement NewsFollowing the lifting of the coronavirus lockdown in several Indian states, the country’s cement industry is witnessing some pick-up in demand, according to Livemint. Research into the cement dealers’ channel by various brokers has shown that pent-up demand is supporting capacity utilisation levels with rural areas expected to provide a further rise in sales going forward. “Rural and pent-up demand has led to higher-than-expected volumes in May-June 2020 and the industry could just suffe... |
Burnpur Cement sees net loss widen in 4Q25 June 2020, Published under Cement NewsIndia’s Burnpur Cement has seen its standalone net loss widen to INR1.25bn (US$16.53m) in the quarter ending 31 March 2020, compared to an INR31.2m net loss in the corresponding period last year. Net revenue was down 25.7 per cent to INR178.5m from INR240.2m in the 4QFY18-19. However, operating expenses also declined 25.7 per cent YoY to INR176.7m from INR237.8m. |
India Cements doubles net profit in FY19-2025 June 2020, Published under Cement NewsIndia Cements reported consolidated net profit of INR534.6m in FY19-20 when compared with INR252.6m in FY18-19. Total income rose from INR58.1bn in FY18-19 to INR52.231bn in FY19-20. India Cement's net loss in the 4QFY19-20 reached INR117.6m when compared with a profit of INR325.7m in the 4QFY18-19. The company incurred a one-time loss of INR1bn owing to coronavirus uncertainty in the quarter under review. Total income stood at INR11.98bn in 4QFY19-20 when compared with INR16.23bn in the y... |
Ramco Cements posts 18% profit increase in FY19-2022 June 2020, Published under Cement NewsIndia’s Ramco Cements recorded a 13.2 per cent YoY decline in consolidated net profit to INR1.43bn (US$18.8m) during the 4QFY19-20, compared with INR1.65bn in the year-ago period. Consolidated revenue also fell 9.2 per cent YoY to INR14.04bn from INR15.46bn. However, the company posted an 18.4 per cent rise in net profit to INR6.02bn for the full FY19-20 period, against INR5.11bn in the previous fiscal. Revenue advanced 4.5 per cent YoY to INR54.23bn from Rs51.87bn. In FY19-20, cement ... |
Indian demand decline slows in May19 June 2020, Published under Cement NewsDespite expectations of a significant decline, Indian cement dispatches are estimated to have only fallen by 15-20 per cent in May, compared with an 80-86 per cent drop in the previous month. The positive development has been attributed to pent-up retail demand and the resumption of some construction projects. Cement prices have also been reported to increase by 0.8 per cent MoM in June, according to IDBI Capital Markets & Securities. However, the prices may begin to dip in the coming mont... |
BCMA calls for withdrawal of import tax19 June 2020, Published under Cement NewsThe Bangladesh Cement Manufacturers Association (BCMA) has called for the withdrawal of a non-adjustable advance income tax (AIT), which is applied at both the import and supply stage, according to The Financial Express. "So far we know this non-adjustable tax is not applicable for any other sectors. I also do not know whether such type of tax is realised in other countries," said BCMA president, Alamgir Kabir. Currently, local manufacturers pay three per cent tax at the import stage and ... |
INSEE ramping up output at Galle plant18 June 2020, Published under Cement NewsINSEE Cement will be ramping up production at its Galle cement plant to support the local economy’s fast recovery from the COVID-19 pandemic. The company said in a statement that over the years, local cement manufacturers have contributed immensely in enriching the national economy through value additions that support the employment opportunities, up-skilling of local construction professionals through continuous training and education provided across all levels of stakeholders along with ... |
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. |
India Cements denies reports of acquisition18 June 2020, Published under Cement NewsDespite recent reports, India Cements has denied that Radhakishan Damani, owner of Avenue Supermarts Ltd, will be acquiring a controlling interest in the company. Mr Damani currently holds a stake of around 20 per cent, while the related group has a stake of around 29 per cent. "Damani is an investor, so he has been acquiring a stake in India Cements over a period of time. It does not seem like he would want to own and operate a cement company," said a Mumbai broker to The Hindu Business... |
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... |