Page 3 - India Cements

UltraTech Cement buys grinding unit from India Cements, announces expansion

Aditya Birla group company UltraTech Cement has announced the acquisition of a grinding unit from India Cements for Rs 315 crore and said it will invest an additional Rs 504 crore to expand capacity of two units. In a stock exchange filing, UltraTech said its board has approved acquisition "of a grinding unit having installed capacity of 1.1 million tonnes per annum in addition to a captive railway siding at Parli, Maharashtra from The India Cements Limited... for a consideration of Rs 315 crores". The company said it has entered into an Asset Purchase Agreement with the seller. "This purchase will help the Company to strengthen its presence in the rapidly growing Maharashtra markets." Making a similar regulatory filing, The India Cements said out of the total consideration of Rs 315 crore (exclusive of taxes and levies), "Rs 307 crore will be received by the company shortly and the balance Rs 8 crore within nine months from the date of the agreement." The unit being sold had a ...

UltraTech to acquire India Cements' 1.1 mtpa grinding unit for Rs 315 cr

Strengthening its market in Maharashtra, UltraTech Cement will secure a grinding unit with a capacity of 1.1 million tonnes per annum, including a captive railway siding, from India Cements

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

ED conducting searches at India Cements Ltd offices in Fema probe

The Enforcement Directorate has conducted searches at the offices of leading Chennai-based cement manufacturer-- India Cements Ltd.-- as part of a foreign exchange violation investigation, official sources said on Thursday. Two office premises in Chennai and one in Delhi were covered by the federal probe agency over the last two days, as per provisions of the Foreign Exchange Management Act (FEMA), the sources said. The probe pertains to the affairs of its associate company India Cements Capital Ltd (ICCL) and transfer of funds abroad worth about Rs 550 crore, they said. The role of some alleged dubious agents and directors are under the probe scanner of the ED, they said. An official comment from the company to a PTI query is awaited. Founded in 1946, the company said on its website that "while retaining cement over the years as its mainstay, India Cements has ventured into related fields like shipping, captive power and coal mining.

Nifty resistance at 21,193; LIC, India Cement top buy calls by Vinay Rajani

LIC's share has broken out from downward sloping trend line on the weekly chart

India Cements, Hindustan Copper can rally up to 17%; here's why

On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities expects Nifty to scale a new all-time high soon.

Elections, festivities, and pollution weigh on India's cement demand

While the festive season slows down construction activity, some dealers expect the lull to extend for the entire month as multiple states enter election mode

Stocks to Watch: Tata Steel, Hero Moto, Britannia, GAIL, JK Tyre, Ambuja

Stocks to watch on November 2, 2023: Two-wheeler manufacturer Hero Moto's consolidated net profit rose 47.6 per cent YoY to Rs 1,007 crore in the September quarter

India Cements Q2 results: Net loss of Rs 85.54 cr, revenue falls by 4.72%

The revenue from operations for Q2FY24 was seen at Rs 1,264.39 crore, compared to Rs 1,327.06 crore year-on-year

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

India Cements Ltd Q2FY24 result: Net loss at Rs 85 cr; revenue down 4%

The total income for Q2FY24 came in at Rs 1,272.41 crore, compared to Rs 1,337.70 crore year-on-year

India Cements posts net loss of Rs 74 crore in Q1 due to dip in sales

Its revenue from operations for the quarter under review declined by 5 per cent to Rs 1,437 crore compared to Rs 1,514.4 crore in the corresponding quarter a year ago

India Cements Q1 net loss at Rs 73.58 cr, revenue dips 5% to Rs 1,436.74 cr

India Cements Ltd on Monday reported a consolidated net loss of Rs 73.58 crore in the April-June quarter mainly due to reduction in selling price and loss of volume. The company had posted a net profit of Rs 83.83 crore during the April-June quarter a year ago, India Cements Ltd (ICL) said in a regulatory filing. Its revenue from operations fell 5.12 per cent to Rs 1,436.74 crore during the period under review as against Rs 1,514.35 crore in the corresponding quarter of previous fiscal. "The selling price of cement was lower during the quarter under review due to severe competition caused by supply overhang. There was a reduction in variable cost during the quarter on account of softening of fuel prices," ICL said an earnings statement. The reduction in variable costs was offset by the reduction in realisation resulting in lower margins, it added. "The lower margins impacted the liquidity severely resulting in lower volume for the quarter. The overall sales volume almost remained

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%

LIC offloads over 2% shares in India Cement via open market transactions

Life Insurance Corporation of India (LIC) on Wednesday said it has offloaded a little over 2 per cent stake in India Cement through open market transactions between November 2007 and July 2023. "...Corporation's shareholding in 'India Cement Ltd' has diluted from 18,205,665 to 11,877,759 equity shares decreasing its shareholding from 5.875 per cent to 3.833 per cent of the paid-up capital of the said company," LIC said in a regulatory filing. These shares were sold at an average price of Rs 191.59 apiece during the period from November 21, 2007 to July 4, 2023. The holding decreased from 5.875 per cent to 3.833 per cent, a decline of 2.042 per cent, it said. Shares of LIC closed 0.81 per cent higher at Rs 626.95 apiece on the BSE.

India Cements to monetise about 1,000 acres land in TN, posts loss for FY24

This was compounded by one off charges on account of impairment of certain investments and advances amounting to about Rs 114 crore

India Cements Q3 net up seven fold to Rs 133 crore on sale of subsidiary

Revenue rises 10%; company lines up Rs 1,600 cr plan to revamp old plants

Aided by subsidiary sale, India Cements record net profit of Rs 90.73 crore

The exceptional income item of Rs 294.28 crore is the profit on sale of investments made in Springway Mining Private Ltd

Sensex slumps 981 pts, Nifty ends near 17,800; PSU index crashes 6%

Market at close: The pain was even more severe in the broader market space where the BSE MidCap and SmallCap indices fell 3 and 4 per cent, respectively

Stocks to Watch: Aban Holdings, Landmark Cars, RIL, Lupin, Gail, JK Cement

Stocks to Watch Aban Holdings and Landmak Cars will be debuting on the stock exchanges on Friday. Both these stocks are likely to witness a tepid start to trade.