Page 10 - Cement Industry

Shree Cement to invest Rs 7,000 crore to add 12 million tonnes of capacity

The company has also decided to diversify into ready mix concrete business and will start setting up five RMC units in the country by the end of this financial year

India's carbon credit trading scheme spins a maze of regulatory complexity

A complex and unwieldy regulatory and monitoring process could raise the costs for Indian companies

Cement industry production to grow 7-8%: Icra gives 'stable' outlook

The domestic cement industry is expected to have a volumetric growth of 7-8 per cent in FY24, helped by a rise in demand from the housing and infrastructure sector, a report by ICRA said on Monday, giving a 'stable' outlook for the sector. Besides, the softening of input costs would help the cement industry to improve its operating profits before interest, tax, depreciation and amortisation by 14-18 per cent Year-on-Year (YoY) to Rs 900-950 per MT in FY24, it added. Moreover, supported by healthy demand prospects, the capacity addition in the cement industry is estimated at 63-69 million metric tonnes (MT) between FY24 and FY25. In this, a capacity worth around 33-36 million MT will be added in FY24 and around 30-33 million MT in FY25. "The cement capacity is expected to rise by 6 per cent in FY2024, the highest addition in the last five years," it said. ICRA has given a "stable" outlook for the cement sector. Steady demand from the housing and infrastructure sectors along with a

UltraTech Cement Q1 consolidated sales increased by 19.64% to 29.96 MT

Leading cement maker UltraTech's consolidated sales increased 19.64 per cent to 29.96 million tonne (MT) in the first quarter ended June 2023. The company produced 25.04 MT of cement in the April-June quarter a year ago, Aditya Birla Group firm said in a regulatory filing on Saturday. Its total sales volume in the domestic market rose 19.87 per cent to 29.01 MT during the quarter under review. It was 24.20 MT in Q1 FY23. Its grey cement production in the domestic market was 28.60 MT in the June quarter of FY24, a 20 per cent growth, while its white cement production was 0.41 MT, up 11 per cent. UltraTech's overseas production, mainly grey cement, was 1.04 MT in Q1 FY24, up 10.63 per cent. The company registered a "capacity utilisation of 90 per cent for the quarter," it added. UltraTech has a consolidated capacity of 135.55 million tonnes per annum (MTPA) of grey cement. It has 23 integrated manufacturing units, 29 grinding units, one clinkerisation unit and eight bulk packaging

Shree Cement completes Rs 550-cr cement plant in Bengal's Purulia

Shree Cement on Friday said it has completed the Rs 550-crore greenfield cement plant in the Purulia district, Bengal. The company said this is its first production facility in Bengal and has begun trial production from Friday. With this plant, the total cement production capacity of the group has increased to around 50 mt per annum across 15 plants. The 3-million-tonne per annum plant set up at an investment of around Rs 550 crore was entirely funded through internal accruals. This new plant will serve the growing cement demand in fast-growing Bengal and Jharkhand markets, helping faster supplies to its customers, Neeraj Akhoury, the managing director, said. He also said the company is determined to reach over 80 mt capacity at an accelerated pace over the next few years.

Dalmia Bharat lines up Rs 19K cr to battle Adani, UltraTech Cement

Housing, infra push to raise demand for cement, according to MD and CEO Puneet Dalmia

J K Cement accords in-principle approval to sign agreement with Toshali

The company will acquire management control and hold 100 per cent of the paid-up capital of Toshali

ACC, Ambuja Cement launch Cement & Concrete Research Development facility

Adani Group-owned ACC and Ambuja Cement have launched a Cement and Concrete Research & Development facility at Kalamboli, Navi Mumbai. The newly established R&D facility will help Ambuja and ACC drive progress, enhance cost optimization, and create sustainable solutions to shape the future of the cement industry, said a statement. A focus on new product development, productivity enhancement, reduction in energy consumption and environmental impact have been major drivers for the establishment of the R&D facility, it added. "Our new R&D facility is our reinforcement towards our collective commitment to pushing boundaries, driving innovation, and addressing industry challenges," said Ajay Kapur, CEO, Cement Business. ***** UltraTech Cement partnering with Finland-based Coolbrook * Leading cement producer UltraTech is partnering with Finland-based Coolbrook to start a joint development project. It will install Coolbrook's RotoDynamic Heater (RDH) technology at an ...

Shree Cement Q4 results: Consolidated net profit falls 15% to Rs 546 cr

The company's net revenue up QoQ by 18% from Rs 4,069 crore to Rs 4,785 crore

Core sector output slows to 3-month low of 6% in Feb, crude production dips

Six of eight key infrastructure industries report sequential deceleration

Challenges ease, cement companies may now go from strength to strength

Aided by volume growth, analysts see earnings improving in March quarter

Cement firms set for 3rd year of growth, volume seen jumping 7-9% in FY24

The heavy infrastructure push in the budget will help cement demand log in the third consecutive year of growth next fiscal, taking the volume to 425 million tonne or 7-9 per cent more than the current fiscal, forecasts a report. The Union budget has allocated Rs 10 lakh crore, which is a full 33 per cent more funds than it had allocated for the current fiscal, for building key infrastructure next fiscal. However, operating margin, which has been under pressure, remains clouded with prices of key inputs--coal and pet coke remaining elevated. This will have a bearing on the credit risk profiles of players as well, Crisil said in a report on Wednesday. Cement demand grew 11 per cent on-year in the first 10 months of the current fiscal, led by rapid execution of infrastructure projects and strong traction in the real estate and rural affordable housing segments. The momentum is likely to stay healthy in the remaining months of this fiscal as it is a seasonally strong period for ...

UltraTech to ACC, cement stocks strengthen on price hikes of Rs 5-15/bag

Cement demand remains firm amid a pick-up in construction and infra activities

Shree Cements posts 44% fall in Dec-quarter profit on high fuel costs

The Kolkata-based company posted a standalone profit of 2.77 billion Indian rupees ($33.5 million) for the quarter ended Dec. 31, compared with 4.92 billion rupees a year earlier

Will get fitment panel to look into 28% GST for cement: FM Sitharaman

Urges industry to ensure its output is compliant with sustainable development goals, says this is crucial for negotiating non-tariff barriers arising out of environmental concerns around the world

'Cement industry to close FY23 with 380 million ton production'

With healthy demand drivers for cement - urban housing, government's infrastructure and rural development thrust, the industry is expected to close FY23 with a production of 380-390 mn ton

Q3 results preview: Cement sector profits seen weak despite strong sales

While improving demand has strengthened sales growth of cement firms, input costs have declined marginally: Analysts

India's cement industry continues to present a puzzle to investors

Given margin pressure and gradual demand revival, companies with strong balance sheet may gain in long run

India eyes quality control measures for rubber, cement industries: Report

India aims to implement quality control measures for the light engineering, rubber, cement and concrete building materials industry by next year, a government source said

Jaiprakash to sell cement, power units to Dalmia Group for Rs 5,666 cr

Deal will give buyer entry into high-growth markets of UP and MP, may turn the firm into a net debt company from almost debt free now