Page 7 - Cement Industry

Ambuja Cements to invest Rs 1,000 cr to set up grinding plant in Jharkhand

Ambuja Cements, now a part of Adani Group, on Wednesday said it has planned to invest Rs 1,000 crore to set up a cement grinding unit in Godda district of Jharkhand. The new 4 Million Tonne Per Annum (MTPA) cement grinding unit would be set up after requisite approvals, Ambuja Cements Ltd (ACL) said in a statement. This project is "planned in the close proximity to Adani Power (Jharkhand) Ltd, as part of a comprehensive approach to disposing of fly ash in an environmentally safe manner and contributing to the circular economy," it said. The unit will generate direct and indirect employment for over 2,500 people, it added. Ambuja Cements operates two cement plants in Jharkhand with a combined capacity of 6 MTPA. "We believe that Jharkhand holds immense potential in terms of resources, infrastructure, and skilled manpower, making it an ideal location for this project. We look forward to working closely with the state to ensure the successful implementation of this project," Ajay Kap

Germany's Thyssenkrupp to divest stake in Indian arm to local partners

The statement said that it is "intended and envisaged" that Thyssenkrupp Polysius and tkII would remain close cooperating partners

Expected Infrastructure push sets South India's cement market in motion

Industry majors and analysts expect the rise in overall infrastructure capital outlay in the Interim Budget to Rs 11.11 trillion in 2024-25

JK Lakshmi Cement Q3 results: Profit jumps 69% to Rs 124 crore on demand

The company, the construction materials arm of JK Group, said net profit after tax rose to Rs 124 crore (around $15 mn) for the quarter ended Dec 31, from Rs 73.59 crore a year earlier

Shah Rukh Khan vs Sunny Deol in the battle for India's cement demand

Celebrities become the face of an industry evolving with rising demand and changing consumer patterns

Cement sales growth in Q3 subdued at 3-4%, say industry executives

Industry executives attributed the impact on demand to a host of factors, including floods in South India, construction bans in the National Capital Region, and fiscal challenges in Bihar, Jharkhand

Orient Cement Q3 results: Net profit rises by 63.5% to Rs 45 crore

CK Birla group firm Orient Cement Ltd on Monday reported a 63.54 per cent increase in consolidated net profit to Rs 44.99 crore for the December quarter. The company had reported a net profit of Rs 27.51 crore in the year-ago period, Orient Cement Ltd (OCL) said in a regulatory filing. Its revenue from operations rose 2.6 per cent to Rs 751.30 crore during the quarter under review from Rs 732.29 crore a year ago. OCL's total expenses were down 1 per cent to Rs 681.44 crore in the third quarter of the ongoing fiscal. Its total income was at Rs 753.22 crore, up 2.7 per cent in the December quarter. Meanwhile, in a separate filing, OCL said its board has approved the reappointment of Desh Deepak Khetrapal as the Managing Director and Chief Executive Officer of the company, subject to approval of the shareholders, for a period of one year. Shares of Orient Cement Ltd on Monday settled at Rs 267.10 on the BSE, down 4.42 per cent from its previous close.

India Cements Q3 result: Loss of Rs 16.5 cr due to subdued demand

India Cements reported a loss for the third quarter on Thursday, hit by subdued demand due to a slow down in construction activity ahead of elections and cyclone in some states

Ambuja Cements Q3 results: Consolidated net profit up 89.5% at Rs 823 cr

Reported profit after tax for the company was at Rs 1,090 crore, up 123 per cent from a year ago

HeidelbergCement India Q3 results: Net profit rises to Rs 31.47 crore

HeidelbergCement India Ltd on Wednesday reported an increase in net profit to Rs 31.47 crore for the December quarter, aided by reduction in operating costs. The company had reported a net profit of Rs 5.58 crore in the year-ago period, HeidelbergCement India said in a regulatory filing. Its total revenue from operations was up 12.4 per cent to Rs 607.13 crore in the third quarter of the ongoing fiscal. It was Rs 540.12 crore in the corresponding quarter of the previous fiscal. "Revenue increased 12 per cent compared to the corresponding quarter of the previous year, driven by 10 per cent volume growth and 2 per cent price increase," the company said in an earning statement. Its operating costs on a per-tonne basis, including freight "decreased 2.4 per cent year-on-year primarily due to decrease in coal and petcoke costs". HeidelbergCement India's total expenses in the December quarter were Rs 577.58 crore, up 6.43 per cent. In the December quarter, HeidelbergCement's sales volum

Shree Cement Q3 resuls: Net profit rises two-fold to Rs 701.85 crore

Bangur family-promoted Shree Cement Ltd on Wednesday reported an over two-fold jump in its consolidated net profit to Rs 701.85 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 281.83 crore in the October-December period a year ago, according to a regulatory filing. Its revenue from operations grew 21.5 per cent to Rs 5,223.18 crore during the quarter under review. It was at Rs 4,299.26 crore in the corresponding period of the preceding fiscal. In the December quarter, it had a "strong & all-round performance led by improved realisation & cost reduction amidst robust demand growth," the company said in a quarterly earnings statement. The total sale volume of Shree Cement Ltd (SCL) increased Year-on-Year (YoY) by 11 per cent from 8.03 million tonnes to 8.89 million tonnes. Its capacity utilisation improved from 72 per cent to 77 per cent on YoY basis. Total expenses of SCL grew 9.12 per cent to Rs 4,458.01 crore in the December ...

Adani Group's Ambuja Cements profit misses estimates on lower volumes

Ambuja's consolidated volumes increased 2.9% to 14.1 million metric tons in the October-December period, lower than the 5.5% growth estimated by Jefferies

Mangalam Cement Q3 results: Profit at Rs 15.9 crore, revenue up 2.4%

Mangalam Cement Ltd on Saturday reported a multi-fold jump in its net profit to Rs 15.95 crore for the quarter ended in December 2023. The company had posted a profit of Rs 0.52 crore in the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations was up 2.38 per cent to Rs 439.43 crore during the quarter under review against Rs 429.19 crore in the year-ago period. Total expenses in the December quarter were down 5.3 per cent to Rs 418.06 crore against Rs 441.50 crore in the third quarter of FY23.

ACC Q3 results: PAT surges five-fold to Rs 527 crore, beats estimates

The Adani Group-owned company's profit after tax surged nearly five-fold to 5.27 billion rupees ($63.4 million) in the three months ended Dec. 31

Dalmia Bharat Q3 net profit rises 22% to Rs 266 cr, revenue up 7.3%

Cement maker Dalmia Bharat Ltd on Wednesday reported a 22 per cent rise in its consolidated net profit to Rs 266 crore for the December quarter, helped by volume sales growth and correction in commodity prices. The company had posted a net profit of Rs 218 crore in the October-December quarter a year ago, according to a regulatory filing. Its revenue from operations grew 7.3 per cent to Rs 3,600 crore during the quarter under review. It was at Rs 3,355 crore in the corresponding period of the previous fiscal. Dalmia Bharat's total expenses increased 6.37 per cent to Rs 3,303 crore during the quarter under review. Its sales volume climbed 8.1 per cent to 6.8 million tonnes in Q3 FY23. During the quarter, it also "received final instalment of Rs 120 crore from Hippostores Technology, a promoter group company, on account of sale of Hippo Stores," the company said in a earnings statement. Hippo Stores is a new business funded by the Dalmia Bharat group based on the Home Depot model b

Cement industry to add 150-160 million tonnes capacity by FY28: CRISIL

To cash in on rising demand from infrastructure and housing sectors, the cement industry is on course to add capacity by 150-160 million tonnes from FY25 to FY28, a report said on Tuesday. In the past five fiscals, the industry has added capacity by 119 million tonnes (MT) per annum to reach a total of 595 MT now, according to a Crisil Ratings report. The capacity addition is for the purpose of meeting the rising demand as well as to consolidate market share in a highly fragmented and competitive industry, the report added. Cement demand grew 8 per cent in fiscal 2022 and 12 per cent in FY23. As much as 70-75 MT capacity addition is expected to be commissioned in next fiscal, with 50-55 per cent concentrated in the eastern and central regions. Large players will account for 50-55 per cent of the planned capacity addition, the report said, adding, however, incremental supply and stiffer competition will cap price growth but benign cost will protect and aid margins. Robust demand i

JK Cement Q3 net profit rises multi-fold to Rs 283.81 cr, revenue up 20%

JK Cement Ltd on Saturday posted a sevenfold increase in consolidated net profit to Rs 283.81 crore for the December quarter. The company had posted a profit of Rs 37.15 crore in the year-ago period, JK Cement said in a regulatory filing. Its revenue from operations rose 20.47 per cent to Rs 2,934.83 crore during the quarter under review from Rs 2,436.09 crore a year ago, it said. JK Cement's total expenses rose 7.5 per cent in the third quarter of the ongoing fiscal to Rs 2,564.29 crore. The company's total income was at Rs 2,973.28 crore, up 21.12 per cent.

UltraTech Cement to acquire 26% in Amplus Ages by investing Rs 49 crore

Leading cement maker UltraTech Cement on Thursday announced the acquisition of 26 per cent stake in Amplus Ages by investing Rs 49 crore. Amplus Ages is engaged in the generation and transmission of renewable energy. UltraTech Cement has entered into a share subscription and shareholders' agreement to acquire 26 per cent equity shares of Amplus Ages Pvt Ltd, the Aditya Birla Group firm said in a regulatory filing. "The acquisition is for the purposes of meeting the company's green energy needs, optimising energy cost and comply with regulatory requirements for captive power consumption under electricity laws," it said. The acquisition is expected to be completed within 180 days from the execution of the electricity offtake agreement and share subscription and shareholders agreement, it added.

ACC gets full ownership of Asian Concretes for Rs 775 cr enterprise value

Asian Concretes (ACCPL) was earlier an associate company of ACC, in which it already held a 45 per cent stake. ACC had first invested in Asian Concretes in 2010 for an undisclosed value

Adani-owned ACC to acquire full stake in Asian Concretes and Cements

ACC currently owns 45 per cent stake in Asian Concretes and Cements and the remaining stake will cost it Rs 425.96 crore