India: Ramco Cements' sales were US$987m during the 2023 financial year, up by 36% year-on-year from US$726m during the 2022 financial year. The producer sold 15Mt of cement and dry mortar products, up by 36%. The Times of India newspaper has reported that the producer's profit after tax declined by 62% to US$41.5m from US$108m.

The producer expects that anticipated infrastructure investments and a 'normal' monsoon will maintain strong cement demand in India in the full-year 2023 financial year. It forecast growth in its profit margins from the second quarter of the 2024 financial year (July - September 2023) onward.

Peru: Unacem recorded consolidated sales of US$380m during the first quarter of 2023, corresponding to year-on-year growth of 2.6%. Despite this, the producer's earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 7.4% to US$105m. Unacem attributed its sales growth to 'strong' cement sales volumes in the US, as well as increased prices across its markets. The domestic Peruvian market contributed US$247m (65%) of Unacem's sales, up by 0.5% year-on-year. Peruvian cement volumes fell by 8%, while high fuel costs there contributed to a local decline in earnings.

Looking ahead to the full 2023 financial year, Unacem CEO Pedro Lerner expects the group's consolidated sales to rise year-on-year. He forecast a 10% drop in Peruvian cement volumes to 6Mt. Lerner said that the company is 'monitoring events' in neighbouring Ecuador, but considers it inevitable that on-going political disturbances will 'affect economic conditions' in the market.

World: The Global Cement and Concrete Association (GCCA) has received over 70 submissions to its Innovandi Open Challenge 2023, and is now preparing the shortlist of startups to present their pitches on 30 June 2023. The Innovandi Open Challenge seeks new disruptive technologies to help to achieve net zero cement and concrete production by 2050. Startups selected under the challenge will have the opportunity to partner with the GCCA and its members to further develop their products.

GCCA cement director and innovation lead Claude Loréa said “To receive more than 70 quality applications from start-ups for this year’s Innovandi Open Challenge is hugely encouraging, and shows what level of interest and work is being done to help drive climate action, with applications received from every region of the world." She concluded "Our vital industry needs products which are affordable, scalable and easily adopted. We look forward to sifting through the applications with our member companies and working with those who are selected.”

India: Century Textiles & Industries plans to raise US$48.3m by issue of non-convertible debentures (NCDs) on a private placement basis. Accord Fintech News has reported that the NCDs will be listed, rated, unsecured and redeemable.