Page 9 - Cement Industry

Competition Commission of India launches market study on cement sector

CCI said that some of the objectives of the study are to study the market trends including movements in cement price, cost, production, capacity, capacity utilisation and profitability

JK Lakshmi Cement Q2 result: PAT increases by 55% to Rs 95.87 crore

JK Lakshmi Cement Ltd on Thursday reported a 55.15 per cent increase in consolidated profit after tax to Rs 95.87 crore in the second quarter ended September 30, 2023. The company posted a consolidated profit after tax of Rs 61.79 crore in the July-September quarter last fiscal, according to a regulatory filing from JK Lakshmi Cement Ltd. Its revenue from operations was up 14.63 per cent to Rs 1,574.53 crore compared to Rs 1,373.55 crore in the year-ago period. Total expenses of JK Lakshmi Cement was at Rs 1,447.52 crore, up 11.36 per cent. Shares of JK Lakshmi Cement Ltd on Thursday settled at Rs 674.30 on BSE, up 0.33 per cent from the previous close.

India Cements' net loss contracts to Rs 81.39 crore during Jul-Sep quarter

Cement maker The India Cements Ltd has reported a standalone net loss for the July-September 2023 quarter at Rs 81.39 crore, the company said on Wednesday. The standalone net loss during the corresponding quarter of last year stood at Rs 137.58 crore. For the six-month period ended September 30, 2023 the net loss was at Rs 156.66 crore, as against a net loss of Rs 61.49 crore registered in the year-ago period. The standalone total income slipped to Rs 1,228.06 crore, from Rs 1,258.52 crore registered during the same period last year. For the half year ended September 30, 2023, the standalone total income was at Rs 2,627.97 crore as compared to Rs 2,712.79 crore registered in the same period of last year. The performance of the company was better than that of earlier quarters turning out a marginally positive EBITDA despite the restricted operations caused by the stressed working capital position, the company said. The EBITDA for the quarter under review was at Rs 14 crore sizably

Adani Group refinances $3.5 bn debt taken for ACC-Ambuja acquisition

The refinancing programme was concluded with 10 international banks with a debt maturity of up to 3 years

Rs 47 trn required to decarbonise country's steel, cement plants: Study

India's existing steel and cement plants, which play a vital role in the country's economic development, will require Rs 47 lakh crore in additional capital expenditure (CAPEX) to achieve net-zero carbon emissions, according to a new study. India is the second-largest producer of steel and cement in the world. But both are emission-intensive processes making these hard-to-abate industries. The study, the first-of-its-kind calculation of the cost of decarbonising these industries, also pointed out these two sectors will need Rs 1 lakh crore each year in additional operational expenditure (OPEX) to achieve net zero. Net zero means achieving a balance between the greenhouse gases put into the atmosphere and those taken out. The analysis by the Council on Energy, Environment and Water (CEEW) also found that an 8 to 25 per cent reduction in steel emissions and a 32 per cent reduction in cement emissions is possible without any price increase by adopting efficient technologies such as ..

Steel, cement industry need Rs 47 trn investment to meet net zero goals

The domestic steel and cement industry will require an additional Rs 47 lakh crore investment to meet net zero targets, according to a report. India is the second-largest producer of steel and cement in the world, and both are emission-intensive hard-to-abate industries. "India's existing steel and cement plants will require Rs 47 lakh crore (USD 627 billion) in additional capital expenditure (CAPEX) to achieve net-zero carbon emissions," the Council on Energy, Environment and Water (CEEW) report said. These two sectors will need Rs 1 lakh crore each year in additional operational expenditure (OPEX) to go net-zero, the report added. The CEEW analyses also found that an 825 per cent reduction in steel emissions and a 32 per cent reduction in cement emissions is possible without any price increase by adopting efficient technologies such as waste-heat recovery and energy-efficient drives and controls. Moreover, a 33 per cent reduction in the combined carbon emissions of the steel and

Adani's $3.5 bn Ambuja loan moves ahead after some banks get approval

The three banks are Barclays Plc, Deutsche Bank AG and Standard Chartered Plc

Result preview: Cement companies may report firm profit growth for Q2

Stable prices and costs to help earnings report a higher growth over a low profitability base of last year

UltraTech Cement's consolidated sales up 15% to 26.69 MT in 2nd quarter

UltraTech Cement's consolidated sales rose 15.54 per cent to 26.69 million tonne (MT) year-on-year in the second quarter ended September 30, 2023. The company produced 23.10 MT cement in July-September period a year ago, the Aditya Birla Group firm said in a sales volume data filed on bourses. Total sales volume in the domestic market was up 15.37 per cent to 25.66 MT during the quarter under review. It was 22.24 MT in Q2/FY23. Its grey cement production in the domestic market was at 25.24 MT in September quarter FY24, reporting 15.46 per cent growth, while its white cement production was 0.42 MT, up 10.52 per cent. UltraTech's overseas production, mainly grey cement was 1.18 MT in Q2/FY24, up 21.64 per cent. The company has a consolidated capacity of 137.85 million tonne 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 wor

Key infra sector growth rises to 14-month high of 12.1% in August

The expansion in August is the highest since June 2022, when it was 13.2 per cent

Infra push to drive cement demand up 10-12% this fiscal: Crisil Ratings

The massive infra spending by the government towards building roads, railway lines and power, among others, will boost cement demand by 10-12 per cent this fiscal, according to a report. The Centre has increased its budget allocation for infrastructure -- such as roads, railway lines/stations, power, including renewables, urban infra, telecom, ports, airports, and water works, among others -- by Rs 1.6 lakh crore to Rs 5.9 lakh crore for fiscal 2024 from a revised estimate of Rs 4.3 lakh crore for fiscal 2023. Continuing the robust ride of the past two fiscals, cement demand is likely to grow 10-12 per cent year-on-year to 440 million tonne in fiscal 2024, driven by strong offtake from the infrastructure segment, Crisil Ratings said in a note Friday. Cement demand grew by 12 per cent in fiscal 2023 and by 8 per cent in fiscal 2022. Combined with stable cement prices and softening power and fuel costs, the operating profit of cement manufacturers is likely to recover by Rs 200/tonne

Birla Corp plans to ramp up cement production to 25 mt by 2025-26 fiscal

MP Birla Group flagship company Birla Corporation has drawn up a strategy to augment its cement production capacity to 25 million tonnes by the 2025-26 fiscal from the existing 20 million tonnes, officials said on Tuesday. The cement maker is planning to meet its targeted production by increasing capacity utilisation at its Mukutban plant in Maharashtra, setting up the second clinker unit at Maihar in Madhya Pradesh and constructing new grinding units. "With the commissioning of Mukutban plant, we have virtually ring-fenced our core market of central India which we can service seamlessly from our six plants, namely Maihar, Satna, Kundangunj, Raebareli, Chanderia, and now, Mukutban. The strategic location of these plants and standardisation of product quality allow us to interchange source of supplies to maximise realisation and serviceability for our customers," Birla Corporation Chairman Harsh V Lodha told shareholders during the 103rd annual general meeting of the company ...

UltraTech Cement targets 200 MTPA cement capacity: Chairman KM Birla

Country leading cement maker UltraTech Cement is targetting a production capacity of 200 million tonnes per annum (MTPA) as it looks to become one of the largest cement companies in the world, its Chairman Kumar Mangalam Birla said while addressing the AGM of the company. The company has already commenced work on the next growth phase of adding 22.6 MTPA additional capacity and after its completion, UltraTech will have over 160 MTPA cement production capacity. "Your Company is now targeting an ambitious goal of achieving a production capacity of 200 million tonnes. This will further reinforce our position as one of the largest cement companies in the world," said Birla while addressing shareholders on the 23rd AGM of UltraTech Cement. UltraTech had an installed capacity of 132.4 MTPA in FY22 and then added another 5.5 MTPA in FY23, elevating its total cement production capacity to 137.85 MTPA. The Aditya Birla group firm has doubled its grey cement production capacity from 66.3 MTP

India Cements posts wider Q1 adjusted loss as raw material costs weigh

Revenue from operations fell about 4% to 1393 crore rupees, while raw materials cost surged 13.2%

Ambuja Cements to buy 56.7% stake in Sanghi at a valuation of Rs 5,000 cr

Ambuja Cements' acquisition of Sanghi Industries is expected to be completed in the next three to four months

Adani group-company Ambuja Cement to buy Sanghi Cement for Rs 6,000 cr

The Adani group will invest Rs 4,500 cr in acquiring the promoters' stake and take over the company's debt of around 1,500 cr

India's core sector output rises to five-month high of 8.2% in June: Govt

The government revised the final growth rate of the index of eight core industries for March 2023 to 4.2%

ACC not to carry out any investigation into Hindenburg's allegations

Leading cement maker ACC Ltd, now a part of Adani Group, said it will not conduct any independent investigations against the allegations of financial misconduct made by the short-selling firm Hindenburg Research. Adani Group had already undertaken a review by independent law firms, whose opinions confirmed that the company is in compliance with the requirements of applicable laws and regulations, said ACC Cement while declaring its quarter results on Thursday. "Based on the foregoing and pending final outcome of the regulatory investigations and related proceedings as mentioned above, the Company has decided to not carry out any separate independent Investigation in the matter, and the financial results do not carry any adjustments in this regard," it said. Hindenburg on January 24 accused Adani of "brazen stock manipulation and accounting fraud" as well as using a "labyrinthian network" of shell companies for surreptitious money movements, allegations that the conglomerate has ...

ACC Q1 results: Net profit jumps 105% to Rs 466 crore, revenue up 16.4%

Adani firm to not conduct separate, independent probe into Hindenburg allegations

Shree Cement to invest Rs 7,000 cr on capacity expansion projects

Bangur family promoted Shree Cement on Wednesday announced to invest Rs 7,000 crore for capacity expansion in the next phase of capacity augmentation. The board of Shree Cement in its meeting held on Wednesday approved "clinker & cement capacity expansion projects with a total capital expenditure of around Rs 7,000 crore", said regulatory updates by the company. Shree Cement, the third largest cement manufacturer, will invest in setting up a clinker capacity of 3.65 million tonnes in Pali, Rajasthan. Besides, it will also invest in a cement capacity of 6 million tonnes at Pali, Rajasthan and Etah, Uttar Pradesh. Similarly, it will also invest in two Karnataka-based units in Kodla and Bangalore. "We are also happy to announce our next phase of capacity expansion projects of 12 million tonnes that will take the group's cement capacity to 72.4 million tonnes, it said. According to the information available, Shree Cement is among India's top three cement producers, with an installed