Page 11 - Cement Industry
Cement maker Dalmia Bharat Sept quarter profit falls 77% to Rs 47 cr
Cement maker Dalmia Bharat Ltd on Wednesday reported a 76.84 per cent decline in consolidated net profit at Rs 47 crore for the quarter ended September. The company had posted a net profit of Rs 203 crore during the July-September quarter a year ago, Dalmia Bharat said in a regulatory filing. Its revenue from operations increased 15.11 per cent to Rs 2,971 crore in the second quarter of the current fiscal. In the year-ago period, the same stood at Rs 2,581 crore. Dalmia Bharat's total expenses rose nearly 29 per cent to Rs 2,980 crore in the latest quarter under review. Sales volume increased 13.72 per cent in the September quarter to 5.8 Million Tonnes (MT) compared to the year-ago period. Dalmia Cement (Bharat) Managing Director and CEO Mahendra Singhi said that despite a seasonally weak quarter, "we are encouraged with recent momentum in prices and volumes." "Our past investments in strengthening our operational efficiencies and cost rationalisations have enabled us to maintai
 "Cement maker Dalmia Bharat Sept quarter profit falls 77% to Rs 47 cr")
India Cements looks to fortify base but future growth remains a question
ICL's challenges come at a time when the cement industry in India is under pressure owing to a sharp rise in raw material prices leading to a lower capacity utilisation of around 64%
 "India Cements looks to fortify base but future growth remains a question")
ACC logs surprise net loss of Rs 87.35 crore on high fuel, power costs
Net sales up 7%; royalty agreement with Holcim terminated on Sept 16; paid Rs 264 cr as royalty and technical fees in CY21
 "ACC logs surprise net loss of Rs 87.35 crore on high fuel, power costs")
ACC reports net loss of Rs 87 cr for Sept qtr, revenue rises 6%
According to ACC, its EBITDA in the quarter 'stood at Rs 16 crore largely due to steep rise in fuel cost' as against Rs 712 crore earlier
 "ACC reports net loss of Rs 87 cr for Sept qtr, revenue rises 6%")
Top headlines: Byju's raises $250 mn; ACC posts surprise Q2 loss
Business Standard brings you top news of the evening
 "Top headlines: Byju's raises $250 mn; ACC posts surprise Q2 loss")
Several Indian corporate houses set to become carbon neutral by 2050
Companies including Mahindra & Mahindra, Aditya Birla Group, JSW Group, Adani Transmission, Vedanta, and Dalmia Cement have set decarbonisation goals to achieve carbon neutrality by 2050
 "Several Indian corporate houses set to become carbon neutral by 2050")
Cement cos regain pricing power as demand improves from infra, construction
Cost pressures a concern, though, as crude, currency volatility remain
 "Cement cos regain pricing power as demand improves from infra, construction")
Sale of cement units to Adani group a relief for Jaiprakash lenders
Lenders said they are still awaiting the resolution of a debt worth Rs 21,658 crore with Jaypee Infratech -- the real estate arm of the group
 "Sale of cement units to Adani group a relief for Jaiprakash lenders")
Adani to buy Jaypee cement units; JSW buys India Cements' MP unit
Adani aims to become India's top cement company by 2030; rival Ultratech stepping up capacity
 "Adani to buy Jaypee cement units; JSW buys India Cements' MP unit")
Adani Group may buy debt-laden Jaiprakash's cement unit for $606 mn: Report
The acquisition will be made by one of the cement units recently acquired by Asia's richest person, the people said, adding an announcement was expected as early as this week
 "Adani Group may buy debt-laden Jaiprakash's cement unit for $606 mn: Report")
Ambuja, ACC capacity to double to 140 mtpa in 5 years: Gautam Adani
Both companies will become country's most profitable cement firms as margins will go up due to rising demand: Gautam Adani
 "Ambuja, ACC capacity to double to 140 mtpa in 5 years: Gautam Adani")
Adani's foray expected to trigger consolidation in cement industry
Adani, Ultratech, Dalmia Bharat, Shree Cement to buy smaller companies, say analysts
 "Adani's foray expected to trigger consolidation in cement industry")
Top Headlines: 35-50 bps rate hike by MPC; advance tax mop-up rises 17%
The RBI's Monetary Policy Committee (MPC) is likely to lift the policy repo rate by 35-50 basis points (bps) on September 30, according to a Business Standard poll
 "Top Headlines: 35-50 bps rate hike by MPC; advance tax mop-up rises 17%")
Gautam Adani now chairman of Ambuja Cements; son Karan is ACC boss
The Adani group to infuse Rs 20,000 crore more in Ambuja Cements
Ambuja Cements up 3%, hits new high in a weak market on fund raising plan
The board of directors of Ambuja Cements is scheduled to meet on September 16, 2022 to consider and evaluate proposal for raising of funds
 "Ambuja Cements up 3%, hits new high in a weak market on fund raising plan")
With Q2 history against them, cement stocks' valuations looks stretched
Most analysts have a 'sell' or 'reduce' recommendation on the sector
How Holcim units, other cement firms fixed prices: Antitrust probe
Cement production is a lucrative business in India's booming economy, with high demand especially from rural housing and infrastructure firms
India's cement sector to add 80-100 mt capacity by FY25: K M Birla
Birla said the new round of expansion by UltraTech will take its capacity to 159.25 mtpa, reinforcing its position as the third-largest cement company in the world, outside of China
 "India's cement sector to add 80-100 mt capacity by FY25: K M Birla")
Top Headlines: Maha CM resigns, generational change in India Inc, and more
Business Standard brings you the top headlines at this hour
 "Top Headlines: Maha CM resigns, generational change in India Inc, and more")
TMSEp195: 5G auction, Agnipath scheme, markets, Udyam registration
How will 5G auction effect telcos & industry 4.0? Will 'Agnipath' affec army's modernisation drive? What is in store for cement, steel, paint stocks? What is Udyam registration for MSMEs? Answers here
 "TMSEp195: 5G auction, Agnipath scheme, markets, Udyam registration")