Displaying items by tag: JK Lakshmi Cement

India: JK Lakshmi Cement has reported that its total income for the financial year that ended on 31 March 2016 rose by 14.8% year-on-year to US$398m from US$347m in the same period in the previous year. However, its net profit fell by 93% to US$9.3m from US$14.2m. For the fourth quarter of its financial year, the Indian cement producer reported that its net profit grew nearly eight times to US$7.2m from US$0.9m.

India: Shailendra Chouksey, a director of JK Lakshmi Cement, has been appointed as the new president of the Cement Manufacturers' Association (CMA) for a two year term. He replaces OP Puranmalka, the managing director of Ultratech Cement. Previously Chouksey was the vice-president of the association.

"As the newly elected president of the CMA, my priority is to device methods to work with different stakeholders, including the government of India to spur the cement demand," said Chouksey.

Chouksey holds a PhD in managerial economics, an MBA in marketing from the Faculty of Management Studies, Delhi and a post-graduate degree in physics. He has worked in the cement industry for nearly 40 years.

India: JK Lakshmi Cement has commissioned a 1.7Mt/yr cement plant in Durg, Chhattisgarh at a cost of US$263m.

India: JK Lakshmi Cement has posted a standalone net loss of US$2.27m for the second quarter of its 2016 fiscal year, which ended on 30 September 2015, down from US$4.66m in the same period of its 2015 fiscal year, due to an additional burden of interest and depreciation cost on commissioning of the new Durg cement plant. Its standalone income rose by 13% year-on-year to US$98.2m during the quarter. The company said that its sales volume and prices were both impacted by subdued market conditions.

India: JK Lakshmi Cement has gained approval to establish a 1.5Mt/yr grinding plant with a 1000m³/day 10MW diesel generator (DG) set and autoclaved aerated concrete block unit in Kishanganj, Bihar for US$46.3m.

"Based on the recommendations of the Expert Appraisal Committee, the Environment Ministry has given environmental clearance to JK Lakshmi Cement's proposed project in Bihar," said a senior Environment Ministry official.

The clearance was given with certain conditions. Among the conditions specified, JK Lakshmi Cement has been asked to develop a green belt in at least 33% of the area in and around the cement plant, as per the norms. The company has also been asked to install air monitoring devices, control secondary fugitive emissions and reduce the impact of transport of the raw materials and end products on the surrounding environment, among others.

JK Lakshmi Cement has more than 9Mt/yr of installed cement capacity in India. In the first quarter of its 2015-2016 fiscal year, the company reported a standalone net loss of US$3.62m due to the subdued market and higher costs, compared to a net profit of US$6.25m in the April - June period of the previous fiscal year.

India: JK Lakshmi Cement has reported an 88.6% fall in its net profit to US$0.95m for the quarter that ended on 31 March 2015. Total income fell by 11.4% year-on-year to US$93.8m for quarter.
For the year that ended on 31 March 2015, JK Lakshmi Cement posted a 2.8% rise in its net profit to US$15m. Its total income surged by 11.2% to US$367m for the year and its net profit after tax grew by 9.65% year-on-year to US$16.2m.

India: Built at a cost of more than US$276m, JK Lakshmi Cement's new Durg cement plant in Chhattisgarh has started production.

The plant has an installed capacity of nearly 2.7Mt/yr. Following commissioning, JK Lakshmi Cement's installed cement production capacity stands at 9.3Mt/yr. A part of the US$4bn JK Organisation, the Durg plant will produce various types of cement, including Ordinary Portland cement, Portland pozzolana cement and slag cement.

The Durg project had in 2013 attracted the wrath of the local inhabitants, who set fire to part of the under-construction plant. They were reportedly angered by the reluctance of JK Lakshmi Cement to give jobs to people affected by the project. This caused serious damages at the construction site.

India: JK Lakshmi Cement has reported a 31% turnover increase to US$111m in the second quarter of 2014, which ended on 30 June 2014, compared to US$85.0m in the corresponding quarter of 2013. The increase was attributed to 14% growth in production and an 18% increase in sales volumes.

JK Lakshmi Cement's operating profit during the quarter stood at US$19.3m. This represents a 58% increase compared to the same period of 2013, when operating profit was US$12.2m. After providing for interest and depreciation, the company's pre-tax profit rose to US$11.0m, compared to US$2.96m in the same period of 2013. After accounting for exceptional items and tax, JK Lakshmi Cement posted a net profit of US$6.73m for the second quarter of 2014, up from US$2.61m in the corresponding quarter of 2013.

JK Lakshmi Cement has reduced its fuel consumption to 715,000Cal/Kg of clinker in the second quarter of 2014, compared to 731,000Cal/Kg of clinker in the corresponding quarter of 2013. It has also reported satisfactory progress in its 2.7Mt/yr capacity greenfield cement plant in Durg, Chhattisgarh, which is expected to be commissioned in the third quarter of 2014.

India: Local villagers have been accused of setting fire to the JK Lakshmi Cement plant at Malpuri Khurd in Durg district on 4 April 2013. Police arrested 50 people following the disturbance.

Villagers of Malpuri Khurd, located around 50km from the state capital, were staging demonstrations in demand for jobs at the cement plant in exchange for their farmland. According to police reports the protest turned violent as around 200 protesters set fire to infrastructure including the cement plant, cars and tractors on the on the 80-acre site.

A company official for JK Lakshmi Cement estimated the loss in the fire to be around US$92m to US$128m, stating that almost 50% of the plant was gutted in the fire. The plant 's employees and officers also alleged that they were attacked by the mob.

However, villagers claim they did not set fire to the plant. Some villagers have been reported as having left their homes fearing police retaliation and local media has reported claims of intimidation by the plant management.

India: UltraTech Cement, one of India's largest cement producers, made 3.33Mt of cement in February 2013. Its cement dispatches stood at 3.31Mt for the same month.

Meanwhile, Shree Cement has reported that its production stood at 98,300t for the month, while its cement dispatches stood at 96,700t. Sales were down 16% year-on-year compared to February 2012.

Elsewhere, JK Lakshmi Cement has reported that its production (including clinker) for the month of February 2013 was 44,700t, while dispatches (including clinker) for the same period stood at 44,600t.

In the north, Mangalam Cement cement production of 153,793t during February 2013, while its cement dispatch stood at 163,034t.