Page 7 - Cement Industry

High cost, price war led to sale of India Cements: Srinivasan to staff

"I am going to leave India Cements," he declared. "The reason is that our competitors can crush us with lower prices. With slightly higher cost of productions, we had taken all steps to reduce costs."

ACC Q1 FY25 results: Net profit down 22.5% at Rs 361 crore; stock falls

Cement maker ACC Ltd on Monday reported a decline of 22.46 per cent in its net profit to Rs 361.40 crore in the first quarter ended on June 2024. The company had posted a profit of Rs 466.14 crore in the April-June quarter a year ago, according to a regulatory filing from ACC, now a part of Adani Cement. Its revenue from operations was marginally lower at Rs 5,154.89 crore during the quarter under review. It was Rs 5,201.11 crore in the corresponding period a year ago. ACC's sales volume from Cement & Clinker in the April-June quarter was up 9 per cent at 10.2 million tonnes, which is the "highest ever volume" in Q1 over the last five years, according to an earning statement by the company. The volume growth was "supported by an increase in premium products and improvement in efficiency parameters, ensuring market leadership". Total expenses of ACC rose 1.84 per cent in the June 2024 quarter to Rs 4,741.27 crore. Its Kiln fuel cost improved, helped by change of fuel basket and ..

Billionaire battle heats up as Adani challenges Birla in cement space

The clash of titans is likely to intensify as the deep-pocketed tycoons seek to dominate supplies of a building material that is critical to sustaining India's infrastructure boom

Dip in sales realisation mutes UltraTech net profit at Rs 1,696 crore

Profit before interest, depreciation and tax, the company said, was at Rs 3,205 crore compared to Rs 3223 crore a year ago

Adani Group announces merger, ownership restructuring for its cement assets

As part of the scheme, Adani Cementation will be merged with Ambuja, while Adani Cement Industries will become a wholly-owned subsidiary of Ambuja Cements

Adani Group's Ambuja Cements to buy Penna Cement for Rs 10,422 crore

This is Adani Group's third acquisition since the Ambuja-ACC takeover

Ambuja Cements acquires Penna Cement at enterprise value of Rs 10,422 cr

PCIL's strategic location and sufficient limestone reserves provide an opportunity to increase cement capacity through debottlenecking and additional investment

Market share of top 5 cement makers to rise to 55% by Mar 2025: ICRA

Top five domestic cement manufacturers could expand their market share to up to 55 per cent by March 2025, through organic and inorganic expansions, leading to further consolidation, said a report from rating agency ICRA. Helped by a healthy demand prospect, large companies operating in the cement sector are looking to increase their capacity and maintain market share, it said. "ICRA estimates that the market share of the top five cement companies witnessed a steep rise to 54 per cent as of December 2023, from 45 per cent as of March 2015, and expects it to further increase to 55 per cent by March 2025, resulting in consolidation in the cement industry," it said. While organic growth is expected to continue in the medium-term, cement companies are also preferring the inorganic route to boost capacities rapidly, leading to consolidation in the industry, it added. "Except the ACC and Ambuja acquisitions by the Adani Group, other mergers and acquisitions (M&As) were largely owing to .

Adani Group marks $3 bn for multiple cement acquisitions in expansion bid

Adani Cement is the second-largest cement producer in India after UltraTech Cement and is looking to capture one-fifth of the domestic cement market by FY28

India Cements' Q4 results: Loss shrinks to Rs 50.06 cr on improved sales

India Cements Ltd on Monday reported a narrowing of consolidated net loss to Rs 50.06 crore in the fourth quarter ended March 31, 2024, helped by improved sales volume. The company had posted a net loss of Rs 243.77 crore in the same quarter a year ago, India Cements Ltd said in a regulatory filing. Consolidated revenue from operations in the quarter under review was at Rs 1,266.65 crore as against Rs 1,485.73 crore in the corresponding period a year ago. "With the improved sales volume, India Cements Ltd could turn out a better operating performance and pared the losses for the fourth quarter under review," the company said. The cement and clinker volume for the fourth quarter was 24.36 lakh tonne as compared to 27.85 lakh tonne in the same period of the previous year, it added. Together with the profit arising from the sale of land, the company has made a cash profit of Rs.24 crore for the quarter despite the setback caused by the fall in selling prices of cement, the company ..

Stable prices, lower fuel cost, moderated demand in FY25: Cement executives

…with hints of moderate demand growth in FY25

UltraTech stock at Rs 11,500? Check latest target price post Q4FY24 results

The shares, on Tuesday, jumped over 2.38 per cent to hit an intraday high of Rs 10,200 apiece, following the result announcement

Dalmia Bharat Q4 results: Net profit declines to Rs 315 cr, beats estimates

Cement makers usually report strong sales volumes in the March quarter as they lower prices to clear year-end inventory backlogs

Adanis invest another Rs 8,339 cr in Ambuja Cements, promoter stake up 70%

Completes fund infusion of Rs 20,000 crore, promoter stake now at 70.3 per cent

China expected to keep key rate, liquidity steady to cement recovery

The People's Bank of China will keep the rate on its medium-term lending facility unchanged at 2.5% Monday, according to all 19 analysts surveyed by Bloomberg

Result preview: Analysts note 'unusual' quarter for cement sector

Expect healthy year-on-year growth in margins in Q4, but sequential decline

Top 4 cement firms on capacity expansion spree, plan to add 42 mtpa in FY25

The top four combined are expected to increase their share in total capacity to 54 per cent by FY26, from 48 per cent in FY23

UltraTech Cement to invest Rs 32,400 crore in the next three years

Commissions two greenfield plants adding 5.4 mtpa in Chhattisgarh and Tamil Nadu

Adani family invests Rs 6,661 crore in Ambuja Cements via warrants

The latest fund infusion will take Adani family stake in the cement co to 66.7 per cent

Shree Cement enters ready mix concrete segment with 1st greenfield project

Shree Cement, one of the top three players in the segment, on Friday announced entry into the ready mix concrete (RMC) segment with the commissioning of its first greenfield in Hyderabad. The new RMC plant has a capacity of 90 cubic metres per hour and would help the Bangur family-promoted firm to emerge as a multi-product player in the cement business, as per a company statement. "As part of this strategy, Shree Cements had acquired five operational plants of StarCrete LLP in Mumbai earlier this month for a consideration of Rs 33.5 crore. The company's combined RMC capacity now stands at 512 cubic metres per hour," it said. Shree Cement Managing Director Neeraj Akhoury said the venture into the RMC segment marks Shree Cement's entry into a new line of business. "We recognise the vast potential of RMC business, which is being driven by India's growth momentum, the concerted efforts of both central and state governments to advance infrastructure projects and an uptick in the housing