Displaying items by tag: Dalmia Bharat

India: LafargeHolcim and HeidelbergCement have joined a bidding war for Emami Cement. LafargeHolcim is reported to have submitted an expression of interest via its subsidiary Ambuja Cement, according to the Hindu newspaper. HeidelbergCement has submitted its bids through HeidelbergCement India. Emami Cement has an expected value of around US$845m. Nuvoco Vistas Corporation, Shree Cement and Dalmia Bharat have also been linked to the sale.

Emami Cement operates a 2.5Mt/yr integrated plant at Risda in Chhattisgarh and a 2.5Mt/yr grinding plant at Panagarh in West Bengal. It acquired a 0.6Mt/yr grinding plant at Bhabua, Bihar in September 2018. In addition, the firm has mining assets in Guntur in Andhra Pradesh and near Jaipur in Rajasthan. Its main markets are in West Bengal, Chhattisgarh, Odisha, Jharkhand, Bihar, Maharashtra and Madhya Pradesh. It markets its products under the Double Bull brand.

India: Dalmia Bharat has blamed the general election for its slow cement sales volumes growth in its first quarter. Its sales volumes of cement increased slightly to 4.55Mt. Its revenue grew by 7% year-on-year to US$365m in the first fiscal quarter to 30 June 2019 from US$340m in the same period in 2018. Its earnings before interest, taxation, deprecation and amortisation (EBITDA) rose by 27% to US$95.7m from US$75.2m.

The cement producer also said that its power and fuel costs per tonne had been negatively affected by its Kalyanpur plant operating at low capacity utilisation levels, partly due to a lack of coal. However, it noted that its raw material costs had been ‘moderated’ due to falling slag prices.

India: The National Company Law Tribunal (NCLT) in Mumbai has approved Dalmia Bharat’s offer for debt-laden Murli Industries, subject to conditions intended to stop the company going into liquidation. The tribunal has given Dalmia Bharat until 12 July 2019 to decide if it wants to proceed, according to the Economic Times newspaper. The conditions include forcing the buyer to reinstate lapsed mining leases related to Murli Industries itself and removing clauses allowing Dalmia Bharat to modify or withdraw its plans at any stage. Dalmia Bharat bid around US$60m to buy Murli Industries’ 3Mt/yr cement plant in Maharashtra in late 2017.

India: Cement producers and the World Business Council for Sustainable Development (WBCSD) have launched the Indian Cement Sector SDG Roadmap. The planning framework uses the United Nation’s (UN) sustainable development goals (SDG) to set a series of goals in energy and climate, people and communities, the circular economy and natural resource management. It is intended to contribute to the UN’s 2030 Agenda for Sustainable Development.

This initiative has been convened by nine cement companies: ACC, Ambuja Cement, CRH, Dalmia Cement (Bharat), Heidelberg Cement, Shree Cement, Orient Cement, UltraTech Cement, Votorantim Cimentos. It is also partially funded by the Swiss Agency for Development and Cooperation (SDC).

Notable goals from the roadmap include promoting railway and waterway transport networks, improving transport safety, increasing the use of blended cements and encouraging the use of alternative fuels. The framework also plans to increase the number of women in the indsutry workforce at every level from entry to board.

India: Dalmia Seven, a joint venture between Dalmia Bharat Group and Austria’s Seven Refractories, has launched a new monolithic refractory production line at its Katni plant in Madhya Pradesh. Following the upgrade the unit has a production capacity of 45,000t/yr, according to the Press Trust of India. The new production line is intended to meeting growing demand nationally from the cement, steel and iron industries.

India: Dalmia Bharat’s income rose by 7% year-on-year to US$1.36bn in the year to 31 March 2019 from US$1.26bn in the same period in 2018. Its cement sales volumes grew by 10% to 18.7Mt from 17Mt. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 5% to US$278m from US$292m. The cement producer blamed mounting slag and petcoke costs for the growing production costs although it noted that the prices had started to ‘soften’ in the most recent quarter.

India: The Supreme Court has dismissed a request by Rajputana Properties, a subsidiary of Dalmia Bharat, to review to decision to dismiss a plea challenging the National Company Law Appellate Tribunal's (NCLAT) order allowing UltraTech Cement to acquire Binani Cement, according to the Financial Express newspaper. UltraTech Cement declared that Binani Cement was its subsidiary in November 2018 following a protracted legal battle with Dalmia Bharat. It changed its name to UltraTech Nathdwara Cement in December 2018.

India: Rajputana Properties, a subsidiary of Dalmia Bharat, has requested that the Supreme Court consider a review of its decision to dismiss a plea challenging the National Company Law Appellate Tribunal's (NCLAT) order allowing UltraTech Cement to acquire Binani Cement. The Supreme Court is scheduled to consider the review request in early January 2019, according to the Financial Express newspaper. UltraTech Cement declared that Binani Cement was its subsidiary in November 2018 following a protracted legal battle with Dalmia Bharat. It changed its name to UltraTech Nathdwara Cement in December 2018.

India: The Central Pollution Control Board (CPCB) has penalised four cement producers in Tamil Nadu for failing to follow emission standards. Chettinad Cement’s plants at Puliyur and Karikkali, Tamil Nadu Cements’ plant at Alangulam, Dalmia Cements’ plant at Salmiapuram and ACC’s plant at Coimbatore have been accused by the Ministry of Environment, Forests and Climate Change for not complying with emission standards for particulate matter, SO_x and NO_x, according to the New Indian Express newspaper. ACC and Dalmia Cements have been fined around US$420/day since 31 August 2018, Chettinad Cement has been fined around US$5000 for a 12 day delay in compliance and Tamil Nadu Cements has been fined over US$23,000 for a delay of 55 days.

India: The Cement Manufacturers Association (CMA) has elected Mahendra Singhi, the chief executive officer (CEO) of Dalmia Cement (Bharat), as its new president. He succeeds Shailendra Chouksey, according to the Press Trust of India. Singhi was previously the president of the Rajasthan Manufacturers Association. He also ran Shree Cement before leading Dalmia Bharat group.