Page 8 - Cement Industry

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

UltraTech Cement slapped with two GST demand orders totalling Rs 72 lakh

Leading cement maker UltraTech Cement has received two demand orders, interest and penalties totalling Rs 72.06 lakh from the GST authorities. The company said it will challenge the orders before the appellate authorities. It has received an order from Assistant Commissioner, Bathinda, for a demand of "Rs 25.11 lakh together with interest and penalty, alleging that the ISD (Input Service Distributor) credit not reflected" in the statement of FY18, the Aditya Birla Group firm said in a regulatory filing on Friday. On Saturday, UltraTech in a regulatory informed that it has received another order on GST from Deputy Commissioner, State Tax, Bhavnagar, raising demand for "Rs 46.95 lakh together with interest and penalty, alleging availing ineligible ITC (input tax credit )". According to UltraTech, it has a "good case on merits to defend the matter before the Appellate Authorities" and shall contest the order. The order has no major financial impact on the company, it added. The Adit

UltraTech Cement Q3 sales up 6% to 27.3 MT, overseas production up 20%

Leading cement maker UltraTech's consolidated sales rose by 6 per cent to 27.32 million tonnes (MT) year-on-year in the third quarter ended December 31, 2023. The total sales volume in the domestic market was up 5 per cent to 26.06 MT during the quarter under review, the Aditya Birla Group firm said in a regulatory filing. The company's grey cement production in the domestic market was at 25.44 MT in the October-December quarter FY24, reporting 5 per cent growth, while its white cement production was 0.48 MT, up 14 per cent. UltraTech's overseas production, mainly grey cement, was 1.38 MT in Q3/FY24, up 20 per cent, the statement added. The Aditya Birla Group firm has a consolidated capacity of 138.39 million tonnes per annum (MTPA) of grey cement. It has 23 integrated manufacturing units, 29 grinding units, one clinkerisation unit and eight Bulk Packaging Terminals. UltraTech is the third largest cement producer in the world, excluding the China market.

Eight core industries growth up at 7.8% in November vs 5.7% year-ago

The output of eight key infrastructure sectors increased by 7.8 per cent in November 2023 against a 5.7 per cent expansion in the year-ago period, according to the official data released on Friday. All sectors except crude oil and cement recorded healthy production growth in the month under review. The core sector (coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity) growth in October was 12 per cent. Coal and refinery products output recorded double-digit growth. The output growth of eight sectors was 8.6 per cent in April-November 2023-24 against 8.1 per cent in the year-ago period.

UltraTech eyeing Volume expansion in south, unlikely to disturb prices

Deal with Kesoram Industries likely to add 10.75 million tonnes capacity under UltraTech Cement's fold

Shree Cement commissions high capacity kiln for Rs 3,500 cr Rajasthan plant

Shree Cement Limited on Thursday announced the commissioning of a kiln at its new integrated production facility in Nawalgarh, Rajasthan, with a rated capacity of 11,500 tonnes per day. This kiln stands among one of the highest capacity units in the world, and is empowered by cutting-edge technology, allowing utilisation of alternative fuels and ensuring optimal energy efficiency, the company said. The Rs 3,500 crore new cement plant has an annual production capacity of 3.5 million tonnes of cement annually. The plant also features a 33 MW waste heat recovery-based power plant, contributing to electricity generation without relying on fossil fuels. This innovative approach utilises waste gases from the clinkerisation process, aligning with the company's dedication to environmental responsibility. "In our pursuit to become an 80 million tonnes company by the year 2028, we are thrilled to announce the commissioning of the kiln at our new integrated facility in Nawalgarh, Rajasthan. T

Ambuja Cements completes acquisition of Sanghi Industries at Rs 5,185 crore

As part of the deal's completion, Ambuja Cements also executed a trade (in on and off-market trade) to acquire 54.51 per cent of the voting share capital from the promoters of Sanghi Industries

Hit by regional factors, cement makers witness uneven volume growth in Q2

Dalmia Cement, a dominant player in the East Indian market attributed its lower growth volumes to the lingering impact of a failed strategy tried in the June-23 ended quarter

JSW, Vedanta's Rs 10K cr investment in cement plants stuck in red tape

Mega investments of JSW Group and Vedanta in setting up cement plants in Punjab are awaiting approval from the state government, sources aware of the matter said. The Vedanta Group company, Talwandi Sabo Power Plant (TSPL) plans to set up cement manufacturing plants in Punjab, with an overall investment of around Rs 10,000 crore. TSPL has plans to set up multiple cement plants adjacent to its existing power plant in the Mansa district of Punjab, and one of these plants will be set up by the JSW Group. The Fly ash from the TSPL's power plant will be used to manufacture cement. However, the cement project, which has the potential to generate over 2,000 jobs for the Punjab, is awaiting approvals from various state government departments, they said. According to the sources, TSPL's proposal has been awaiting approval from the Punjab Government's office of the Chief Town Planner and Director of Factories for the last 18 months. This is despite assurance at the highest level at the Inve

JK Cement Q2 results: Profit up 62% to Rs 178 cr, revenue rises 23%

JK Cement Ltd (JKCL) on Saturday reported 62.18 per cent rise in consolidated profit to Rs 178.47 crore for the second quarter ended September 2023. It logged a net profit of Rs 110.04 crore in the July-September period a year ago, according to a regulatory filing by JKCL. Revenue from operation was up 23.23 per cent to Rs 2,752.77 crore during the quarter as against Rs 2,233.84 crore a year ago. Total expense in the September quarter was up 21.08 per cent at Rs 2,537.89 crore. Total income was Rs 2,782.10 crore, up 23.66 per cent year-on-year.