20 October 2014
UltraTech’s second quarter 2015 profit grows 20 October 2014
India: UltraTech has reported a higher net profit in the second quarter of fiscal 2015, on a standalone and consolidated basis, off the back of increased sales. Second-quarter standalone net profit grew by 55% to US$66.9m compared to US$43.1m in the second quarter of 2014. Quarterly net sales stood at US$878m, 20% higher than US$735m in the prior year quarter.
"During the quarter, domestic cement sales volumes increased by 11% on the back of higher demand and additional volume from the acquired units in Gujarat," said UltraTech. "Costs were impacted mainly on account of increase in prices of petcoke, input material and royalty on limestone."
For the first half of 2015, the company's net profit was US$169m, up by 11% from US$153m in the corresponding period of 2014. Net sales and other operating income rose by 17% to US$1.81bn from US$1.56bn for the comparable period of 2014. The combined domestic cement and clinker sales were 10.4Mt, up by 12% from 9.22Mt in 2014, while white cement and wall care putty sales volumes amounted to 302,000t, up by 3% compared to 294,000t in the year-ago quarter.
India: Sagar Cements has received final approval for the acquisition of the 100% equity stake in BMM Cements, which owns a 1Mt/yr capacity cement plant and a 25MW captive thermal power plant in Gudipadu, Andhra Pradesh.
Everest Industries plans new fibre cement plant in UAE 20 October 2014
UAE: Everest Industries, a leading Indian manufacturer of building solution products, plans to set up a fibre cement board plant in the UAE as part of its global expansion strategy. The new plant, which will produce about 72,000t/yr of fibre cement, will be set up through a wholly-owned subsidiary company of Everest Industries in Mauritius. Everest Industries has already won approval from its board of directors for the new UAE venture.