Displaying items by tag: India

France: Vicat’s sales rose by 4.6% year-on-year to Euro1.34bn in the first half of 2019 from Euro1.28bn in the same period in 2018. This was mainly due to its acquisition of Brazil’s Ciplan in late 2018. At constant scope and exchange rates its sales fell by 0.6% due to poor markets in Turkey, Switzerland, Indian and West Africa. Its earnings before interest and tax fell by 9.4% to Euro97m from Euro107m. Cement sales volumes dropped by 4.9% to 10.8Mt from 11.4Mt and concrete volumes decreased by 6.7% to 4.3Mm³ from 4.57Mm³.

“In the first half of 2019, solid performances in France, Asia and the US drove an increase in our sales and earnings before interest, taxation, deprecation and amortisation (EBITDA). These results reflect a marked improvement in the operational profitability given the on-going increase in consumed energy costs, the deteriorating macroeconomic situation in Turkey and the exceptional rainfalls in California that we experienced in the first half,” said Guy Sidos, the group’s chief executive officer (CEO).

By region, the group’s sales and earnings rose in France but fell in the rest of Europe. Sales grew in the Americas region, even without the Ciplan acquisition, but earnings fell due to a Euro10.6mn settlement payment booked in the US in the first half of 2018. The group’s sales fell in India but earnings rose due to price increases. Poor markets in Turkey and Egypt hit sales and caused a loss.

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: Wonder Cement has launched the third production line at its Nimbahera plant at Chittorgarh in Rajasthan. The new 2Mt/yr integrated line had an investment of US$159m, according to the Hindu newspaper. The unit at Nimbahera now has a total production capacity of 9Mt/yr and the company also operates a 2Mt/yr cement grinding plant at Dhule in Maharashtra.

Sanjay Joshi, the executive director of Wonder Cement, said that he expected domestic cement demand to grow by 8% year-on-year in the 2019 – 2020 financial year. He added that, although the market was crowed, he thought that a new company could stand out if it delivered quality products.

India: Data from the Ministry of Commerce & Industry shows that cement production rose by 6.3% year-on-year to 178Mt in the first half of 2019 from 167Mt in the same period in 2018. On a month-on-month basis production fell by 1.5% to 28.3Mt in June 2019 from 28.8Mt in June 2018. June 2019 was the first month since October 2017 that cement production had fallen in this way.

India: Ambuja Cement’s net sales increased by 5% year-on-year to US$834m in the first half of 2019 from US$824m in the same period in 2018. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 3% to US$168m from US$164m. However, its sales volumes of cement dropped by 3% to 12.2Mt from 12.6Mt. Bimlendra Jha, the managing Director and chief executive officer (CEO) of the subsidiary of LafargeHolcim, said that the company managed to optimise its logistics, raw material and fixed costs.

India: Kumar Mangalam Birla has been elected as the chairman of Century Textiles and Industries. The appointment follows the death of his grandfather Basant Kumar Birla early in July 2019. Kumar Mangalam Birla is the head of Aditya Birla Group, the owner of UltraTech Cement amongst other subsidiaries.

Japan: UBE Machinery Corporation has signed a license agreement for the design, manufacture and commissioning of vertical roller mills for cement plants and related applications on exclusive basis with India’s AMCL Machinery for markets in India, Nepal, Bangladesh and Bhutan. The deal was signed in late May 2019. This license agreement has been signed to explore ‘mutual cooperation and opportunities’ between UBE Machinery Corporation and AMCL Machinery.

AMCL Machinery is part of Hindusthan National Glass & Industries. It manufactures vertical roller pre-grinding mills for cement plants in India and the Middle East. It also produces rubber and tyre building machines for the local tyre industry.

India: UltraTech Cement plans to complete its merger with Century Cement by September 2019. Chairman Kumar Mangalam Birla said the company has approval from shareholders, the Competition Commission and stock exchanges, according to the Mint newspaper. However, it still needs permission from the National Company Law Tribunal (NCLT).

The merger, which was first announced in May 2018, is a long running reorganisation of assets belonging to the Birla family. Once complete it is expected to give UltraTech Cement dominance in all regional markets with the addition of 13.4Mt/yr of production capacity in Madhya Pradesh, Chhattisgarh and Maharashtra.

India: ACC’s net sales grew by 8% year-on-year to US$1.15bn in the first half of 2019 from US$1.06bn in the same period in 2018. Its operating earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 18% to US$191m from US$162m. Its cement sales volumes rose by 2% to 14.7Mt from 14.4Mt and its ready-mixed concrete (RMX) sales volumes jumped by 15% to 1.79Mm3 from 1.56Mm3.

“I am pleased that EBITDA improved significantly on account of better realisations, operational efficiencies and supply chain efficiency improvement. Despite subdued cement demand, our strong customer relationships, loyal channel network and range of innovative products have helped us deliver a robust quarter,” said Neeraj Akhoury, the managing director and chief executive officer (CEO) of ACC. He added that the company’s concrete business grew ‘strongly’ due to eight new RMX plants it added in the second quarter. Altogether the company operates 82 operational.

India: Zuari Cement’s integrated cement plant at Sitapuram, Telangana has been issued a show cause notice by the Central Pollution Control Board (CPCB) for exceeding particulate matter emissions. During an inspection it has found to be emitting 40.6mg/Nm³ from the kiln and 78mg/Nm³ from the cement mill, according to the Times of India newspaper. The limit is 30mg/Nm³. CPCB officials also found other violations including an alleged deliberate attempt show reduced levels of sulphur dioxide and nitrogen oxide. The plant has been asked to calibrate its dust monitors properly and submit a compliance report by late July 2019.