India: The India Cements’ earnings before interest, taxation, depreciation and amortisation (EBITDA) reached US$1.68m during the second quarter of the 2024 financial year. The producer recorded a negative EBITDA of US$10.5m during the second quarter of the previous financial year. It succeeded in reducing its net loss by 41% to US$9.73m from US$16.6m. The India Cements said that oversupply and competition placed its cement prices under pressure.

India: Nuvoco Vistas sold 4.5Mt of cement during the second quarter of its 2024 financial year (FY2024), up by 1.2% year-on-year. Its revenues grew by 7% to US$309m, while its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 73% to US$40.4m. The producer achieved specific CO₂ emissions of 462kg/t and an alternate fuel (AF) substitution rate of 14%. During the quarter, it completed debottlenecking projects at the Risda, Chhattisgarh, and Nimbol, Rajasthan, cement plants. The company said that these raised its clinker capacity by 2000t/day. It also secured a new patent, for its fibre reinforced cement composition, and introduced its Concreto UNO and Duraguard F2F premium cements on the Jharkhand market.

Managing director Jayakumar Krishnaswamy said “Our value over volume strategy has positively contributed to the company’s performance. Our trade share has increased from 72% in the second quarter of the 2023 financial year (FY2023) to 74% in the second quarter of FY2024. In addition, the results also demonstrate our commitment to managing the dynamic cost environment through an optimised power and fuel mix, between conventional and clean energy sources.” He added “The expansion at the Haryana cement plant is expected to be completed in FY2024, which will enable us cater to strong demand in the Northern India region.”

India: SRMPR Cements has launched its Portland pozzolana cement (PPC) for the first time, in Tamil Nadu. The Hindu BusinessLine newspaper has reported that the company controls 420,000t/yr of cement production capacity across three facilities in Tamil Nadu and neighbouring Andhra Pradesh. It invested a total US$27m in its production facilities and warehouses. SRMPR Cements will sell its PPC in 50kg bags. It also plans to launch ordinary Portland cement (OPC) in the future. It said that its products will help to meet ‘massive’ demand from public construction projects.

CEO Ohm Prakash said that the producer has already concluded deals with 100 different regional retailers of cement.

Nigeria: Lafarge Africa raised its consolidated sales by 7.1% year-on-year to US$367m throughout the first nine months of 2023. Over the same period, the company’s cost of sales rose by 4.4% to US$179m. Its net profit was US$49.9m, down by 13% year-on-year.