Displaying items by tag: India
India: A high court has ruled that all cement producers have the right to use common words on their cement bags, even where those words are trademarked by another producer. The Times of India newspaper has reported that the Bureau of Indian Standards (BIS) has until mid-July 2021 to respond to the ruling. JK Cement previously launched the legal action against the BIS’s blanket ban on trademarked words including ‘super,’ ‘strong,’ 'damp-proof,' 'corrosion-proof' and 'weather shield.'
Ramco Cements commissions US$68,500 oxygen plant to help fight against Covid-19 outbreak
18 May 2021India: Ramco Cements has commissioned a 48 cylinder/day oxygen plant at its Ramasamy Raja Nagar cement plant in Virudhunagar district, Tamil Nadu. It is donating the oxygen to local hospitals treating Covid-19 patients. The cost of the plant was US$68,500. Each 45l cylinder has a useful life of 10 – 12 hours. The company says that the new plant will save around 24 lives a day.
India: Penna Cement has filed for an initial public offering (IPO) worth US$212m. It plans to offer US$34m-worth of shares for sale and to issue equity shares worth US$177m. United News of India has reported that part of the money raised will fund capital expenditure (capex) investments worth US$58m. The company’s plans consist of a second line at its Krishnapatnam grinding plant in Andhra Pradesh, an upgrade of raw materials and clinker grinding at its integrated Talaricheruvu plant in Andhra Pradesh, and new waste heat recovery (WHR) units at its Talaricherevu plant and its integrated Tandur plant in Telangana. It additionally plans to repay previous loans.
India: Birla Corporation’s board of directors has approved the issuance of up to US$27.3m-worth of secured redeemable non-convertible debentures (NCDs). The Telegraph newspaper has reported that the company will issue the NCDs in one or more tranches before May 2022.
Karnataka government approves Shree Cement’s Doddaballapur grinding and bagging plant plans
13 May 2021India: Shree Cement has received approval from the state government of Karnataka for its planned US$81.5m Doddaballapur cement grinding and bagging plant. The Hindu newspaper has reported that, when operational, the plant will employ 300 local people.
India: Birla Corporation’s consolidated revenue fell by 1.6% year-on-year to US$936m in its 2021 financial year that ended on 31 March 2021 from US$951m in its 2020 financial year. Its cement sales volumes decreased by 1.8% to 13.4Mt from 13.6Mt. However, its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 1.2% to US$195m from US$193m. It blamed falling sales on the coronavarus pandemic but it said it was able to increase earnings and profits by ‘aggressively’ rationalising costs.
"In the light of the massive disruptions faced at the beginning of the financial year, the 2021 financial year wasn't disappointing from the standpoint of profitability. Our performance reflected the resilience we have built over the years to external shocks. We also benefited from the stimulus provided by the government. But in the wake of the second wave of the pandemic, the year ahead looks more challenging. To my mind, India's ability to contain the pandemic through rapid inoculation and other means holds the key to economic revival," said Harsh Vardhan Lodha, chairman of Birla Corporation.
The cement producer also said that work on its new 3.9Mt/yr integrated cement plant in Mukutban, Maharashtra had been delayed due to a shortage of workers related to the ongoing health crisis. The plant is currently scheduled for commissioning by the end of the 2021 calendar year.
India: Dalmia Bharat subsidiary Dalmia Cement plans to increase its installed cement production capacity in Eastern India by a further 4.8Mt/yr. The Economic Times newspaper has reported that its remaining planned upgrades in the region consist of a 2.3Mt/yr capacity expansion at a grinding plant in Odisha and a 2.5Mt/yr capacity expansion at a grinding plant in Bihar. The Odisha upgrade is scheduled for commissioning in mid-2021 and the Bihar upgrade is scheduled for commissioning in 2023. When both completed, the new lines will increase the producer’s cement capacity to 40Mt/yr.
The company says that it plans to announce further capital expenditure (capex) investments. It said that its subsidiary Murli Industries requires US$47.7 - 54.5m-worth of capex spending. It acquired the company, based in the western Indian state of Maharashtra, in the 2021 financial year. Managing director Puneet Dalmia said that the company would wait for greater economic certainty before launching the next round of expenditure. He said that the company’s aim is to become a national producer.
India: Aditya Birla subsidiary UltraTech Cement’s net sales rose by 6% year-on-year to US$6.04bn in its 2021 financial year from US$5.70bn in the same period in 2020. Its cement sales volumes increased by 5% to 80.2Mt. The company’s profit before interest, depreciation and tax grew by 24% to US$1.68bn from US$1.35bn. It attributed the result to ‘prudent’ working capital management and control on cash flows aided by its overheads control programme.
The producer forecast an increase in cement consumption from pent-up urban construction demand in the 2022 financial year.
India: Nirma Group subsidiary Nuvoco Vistas plans to launch a US$677m initial public offering (IPO). The Economic Times newspaper has reported that the IPO consists of a US$190m – US$203m fresh issue and a US$474m offer for sale. The company’s targeted valuation after listing is US$4.74bn, in line with the value of Switzerland-based LafargeHolcim subsidiary ACC.
Nuvoco Vistas first acquired its cement assets from Lafarge India in 2017.
Gebr. Pfeiffer to supply modular grinding plant to Gallantt Industry’s Gorakhpur cement plant
05 May 2021India: Gallantt Industry has ordered a Ready2Grind compact grinding plant from Germany-based Gebr. Pfeiffer for its Gorakhpur cement plant in Uttar Pradesh. The supplier says that the 65t/hr-capacity plant will grind cement to a Blaine fineness of 3750cm²/g. The planned MVR 2500 C-4 represents the medium size of the portfolio of the supplier’s modular mill range. Due to the planned installation in the vicinity of a steelworks, blast furnace slag, steelworks slag from an induction furnace and fly ash from an in-house power plant will also be considered as supplementary cementitious materials addition to clinker and gypsum. The mill will be equipped with a 1270kW main drive and an integrated SLS 2650 VC high-performance classifier.