Cement News tagged under: indian subcontinent
Deccan Cements posts fall in revenue for June quarter11 August 2022, Published under Cement NewsIndia’s Deccan Cements Ltd has reported unaudited revenue of INR1940.16m (US$24.4m) in the quarter ended 30 June 2022, compared to INR2242.36m in the same period a year earlier. Profit for the period came in at INR206.77m, down from the INR368.33m seen in the same quarter in 2021. Like so many companies, Deccan Cements has seen its power and fuel costs surge, rising from INR572.41m in the quarter ended 30 June 2021, to INR711.39m in the same period this year. However, freight charges ov... |
Sagar Cements to submit acquisition plan for Andhra Cements11 August 2022, Published under Cement NewsSagar Cements will submit a resolution plan for its acquisition of Andhra Cements before 18 August 2022. According to The BusinessLine, the company hopes to receive the necessary clearances by October this year but also expects to require around three months for maintenance works at Andhra Cement’s plants in Dachepalle and Visakhapatnam. Although Sagar Cements claims it cannot reveal more information at this stage, the deal is believed to be worth around INR14,000m (US$176m). Sagar Cement... |
Mangalam Cement reports 43% uptick in income in 1QFY2309 August 2022, Published under Cement NewsMangalam Cement has reported a 42.9 per cent YoY increase in total income to INR5181.7m (US$65.13m) in the 1QFY23, compared to INR3625.1m in the same quarter a year earlier. Over the same period, net profit declined by 19.8 per cent to INR28.1m, while earnings per share fell 19.8 per cent to INR10.22, compared to INR12.75 in the 1QFY22. Compared QoQ rather than annually, the company’s total income advanced by 12.7 per cent in the 1QFY23 versus the 4QFY22. Over the same period, net profi... |
Birla Corporation hit by escalating fuel costs08 August 2022, Published under Cement NewsBirla Corp Ltd has reported a 25.2 per cent increase in revenue to INR22,180.6m (US$278.8m) in the first quarter of FY22-23, despite tepid cement demand. However, profitability was hit by rising power, fuel and freight costs, along with the costs incurred with the optimisation of the newly-commissioned Mukutban plant in eastern Maharashtra. Commercial production at the plant began on 30 April 2022 with capacity at the unit expected to reach 3.9Mta, taking the company's total production cap... |
Star Cement 1Q net profit drops 24%03 August 2022, Published under Cement NewsIndia-based Star Cement has seen its net profit decline by 23.7 per cent YoY to INR413.2m (US$5.23m) in the first quarter of FY22-23 (ended 30 June 2022) when compared with a net profit of INR541.8m in the year-ago period. Net revenue increased by 28.7 per cent to INR6.393bn in the 1QFY22-23 from INR5.044bn in the 1QFY21-22. Operating expenses were up by 32.7 per cent YoY to INR5.721bn in the 1QFY22-23. Other income advanced y 32 per cent YoY to INR83.4m. Operating profit edged up by 5... |
Dewan Cement appoints new CEO and director25 July 2022, Published under Cement NewsPakistani cement producer Dewan Cement Ltd informed Pakistan Stock Exchange that Ishtiaq Ahmed and Waseem-ul-Haque Ansari have been appointed as CEO and director of the company, respectively. The appointments are effective of 15 July 2022 and replace Malik Bilal Omar. |
HeidelbergCement India sees revenue increase20 July 2022, Published under Cement NewsHeidelbergCement India has posted revenue of INR6001.5m (US$75.1m) in the quarter ended 30 June 2022, compared to INR5664.5m in the same quarter a year earlier. Profit over the same period has contracted from INR686.5m to INR516.1m. Expenses came in at INR5308.4m in the quarter ended 30 June 2022, up from INR4626m in the same quarter in the year-ago period. Power and fuel costs have risen over the same period from INR1345.9m to INR2103.4m. |
Sagar Cements and Dalmia Cement express interest in Andhra Cements13 July 2022, Published under Cement NewsSagar Cements and Dalmia Cement are reportedly among the companies expressing an interest in Andhra Cements, which is currently undergoing insolvency proceedings, according to The Economic Times. Andhra Cements, part of the Jaypee Group, currently runs two plants in India located in Dachepalli and Visakhapatnam. In the quarter ended 31 March 2022 the company incurred a loss of INR683.1m (US$8.5m), compared to the same period a year earlier. The loss for the financial year ended 31 March ... |
Nepal makes export debut to India11 July 2022, Published under Cement NewsNepal has exported cement to India for the first time. According to Palpa Cement Industries Ltd, the company shipped 3000 sacks of its Tansen brand to India on 9 July 2022 and will be exporting there on a daily basis as per demand going forward. Although Nepali cement products face stiff price competition in India, demand for PPC cement is high in the Indian market, compared to OPC cement. Palpa Cement believes cement exports could reduce Nepal's trade deficit with India by 15 per cent, r... |
UltraTech Cement stalls on plant purchase04 July 2022, Published under Cement NewsUltraTech Cement has reportedly done a U-turn on its agreement to purchase a cement plant from Jaiprakash Associates. The 3Mta plant formed part of UltraTech's acquisition of six integrated cement plants and five grinding units from the Jaypee Group , at a total cost of INR161,890m (US$2.4bn). A number of environnmental clearances were pending related to the plant, according to The Economic Times. Both companies agreed that the final date for payment for the plant would be 30 June 2022... |