Displaying items by tag: India

India: Ambuja Cements' sales were US$495m in the first quarter of its 2023 financial year, up by 18% year-on-year from first-quarter 2022 financial year levels. Its net profit rose by 45% to US$131m from US$90.4m.The company said that it experienced rising fuel prices and related inflationary impacts during the quarter. It mitigated their impacts through the improved efficiencies delivered under its I Can operating strategy. Meanwhile, its master supply agreement with ACC also helped to restrict growth in transport costs.

Holcim India chief executive officer (CEO) and Ambuja Cements managing director and CEO Neeraj Akhoury said "Ambuja has recorded robust volume growth of 15% and top line growth of 18%. Ambuja Kawach, our green cement, demonstrated a sales growth of 22% year on year."

India: Grasim Industries plans to establish a building materials sales platform with a total investment of US$250m over the five-year period to 2027. The Business Standard newspaper has reported that the new platform offers clear adjacencies with the cement and building materials producer's existing businesses and associate companies.

Parent company Aditya Birla's chair Kumar Mangalam Birla said "The building materials segment presents a huge scalable business opportunity with a proven path to profitability. With this foray, Grasim will be able to leverage the large business-to-business ecosystem within the Aditya Birla Group."

India: Andhra Pradesh Chief Minister Yeduguri Sandinti Jagan Mohan Reddy has laid the foundation stone for the upcoming Ramayapatnam Port in his state's Nellore district. Phase 1 of the port's construction will cost US$467m and is due to conclude in July 2025. The Hans India newspaper has reported that the new 25Mt/yr-capacity port will ship cement and other goods from four berths. Phase 2 of construction will subsequently increase the number of berths to 15, with a total export capacity of 139Mt/yr.

India: ACC recorded sales of US$559m in the first quarter of the 2023 financial year. The figure corresponds to a 15% year-on-year rise from US$486m in the first quarter of the 2022 financial year. The company's cement sales during the quarter rose by 13% to US$520m from US$460m. Its net profit was US$28.5m, down by 60% year-on-year.

Press Trust of India News has reported that ACC attributed the profit drop to 'rising global fuel costs and related inflationary impacts.' It said that waste heat recovery (WHR) installations at its Jamul, Kymore and Ametha cement plants will increase its renewable energy share to 15%, 'further accelerating the cost reduction journey.'

India: The Indian Ministry of Mines and Indian Bureau of Mines have awarded UltraTech Cement Five Star ratings for 10 limestone mines across India. Assessment took place within the Indian mining Sustainable Development Framework, which quantifies sustainability, efficiency, land use and resettlement, besides other social impacts.

Nepal: Palpa Cement Industries has exported cement produced at its 3000t/day Sunwal cement plant to India. Indo-Asian News Service has reported that the shipment consisted of 3000 bags of the company’s Tansen brand cement. The producer says that it will continue with daily despatches to India, subject to demand.

The Nepal government offers 8% subsidies to cement exporters which use Nepali raw materials.

India: Punjab National Bank (PNB) has invited asset reconstruction companies' bids for US$6.31m-worth of outstanding loans owed by Burnpur Cement. Press Trust of India News has reported that account has a reserve price of US$2.52m.

India: Dalmia Bharat Refractories and Japan-based Shinagawa Refractories have launched a refractories partnership to serve India and other markets.

Dalmia Bharat Refractories managing director Sameer Nagpal said "We have been strategically expanding our partnerships to bring best-in-the world products and solutions to our customers, and this relationship very well complements our objective. Dalmia Bharat Refractories is well positioned to meet the growing demand for refractories over the next few years, with five manufacturing units in India and two overseas, and a manufacturing capacity of 345,000t/yr."

India: Sunil Kumar has resigned as the managing director of RCC Cements. He said he was unable to devote his time to company business.

India: The Assam Human Rights Commission (AHRC) has directed Calcom Cement to create 20 new full-time jobs for local people by January 2023. The Sentinel newspaper has recorded that the new positions must go to people from designated Project Affected Families (PAFs) with regard to the plant's Pipapukhuri cement plant in Assam. The designation covers any household which lost a source of a livelihood following the company's refusal to deliver a previously agreed rehabilitation package.