Displaying items by tag: Dalmia Cement

India: Dalmia Bharat sold 13.2Mt of cement during the first half of the 2024 financial year (1 April 2023 – 30 September 2023), up by 9.6% year-on-year 12Mt in the first half of the 2023 financial year. This contributed towards a 24% year-on-year rise in the producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) to US$144m from US$116m in the previous first half. During the first half of the current financial year, Dalmia Bharat commenced commercial production from its new 500,000t/yr Ariyalur clinker plant and 2Mt/yr Sattur grinding plant, both in Tamil Nadu. The former commissioning raised the company’s clinker capacity to 22.2Mt/yr.

Group managing director and CEO Puneet Dalmia said “We see a multi-year-strong cement demand trend continuing, as India is undergoing a large-scale metamorphosis. We were one of the first ones to foresee this upcycle and started building our capacity ahead of time. In the past 3.5 years, we have added 17.2Mt/yr-worth of cement capacity, which is 65% growth over 2020 financial year capacity. In line with our vision to reach 110 – 130Mt/yr by 2031, we are continuing to make consistent strides in that direction and capitalise upon the huge opportunity ahead of us.”

The company’s cement managing director and CEO, Mahendra Singhi, noted the effects of a ‘reduction in fuel prices, increased usage of renewable power and improvement in key performance indicators.’ He added “We continue to demonstrate our commitment towards the environment, as we have further brought down our CO₂ footprint to 456kg/t of cement, which is one of the lowest in the global cement sector.”

India: Dalmia Bharat has announced a planned investment of US$10.9m in a grinding unit expansion at its 1Mt/yr Banjari cement plant in Bihar. The expansion will raise the plant’s capacity by 500,000t/yr and conclude before 31 March 2025.

India: Dalmia Bharat says that it will complete its acquisition of Jaiprakash Associates’ cement business, Jaypee Cement, towards the end of the 2024 financial year on 31 March 2024. Informist EquityWire News has reported that the deal is ‘taking more time’ than expected to conclude.

Jaypee Cement’s Madhya Pradesh-based subsidiary Jaybee Bhilai Cement is subject to an on-going shareholder dispute, due to which a court has frozen the company’s 74% shareholding in the unit.

India: Dalmia Cement (Bharat) faces a potential stumbling block to its planned acquisition of Jaiprakash Associates’ cement business for US$683m due to an on-going shareholder dispute at subsidiary Jaypee Bhilai Cement. The Economic Times newspaper has reported that a court has frozen Jaiprakash Associates’ 74% shareholding in the company, and ordered it not to create new third party rights. State-owned Steel Authority of India Limited holds the remaining 26% stake in the cement producer, which operates the 2.2Mt/yr Bhilai Jaypee grinding plant in Durg, Chhattisgarh.

Dalmia Cement (Bharat) and Jaiprakash Associates concluded multiple separate agreements for the transfer of ownership of Jaiprakash Associates’ cement subsidiaries on 26 April 2023. Besides Jaypee Bhilai Cement, these include cement plant and limestone mine operator JP Super and grinding plant operator Jaiprakash Power Ventures.

India: A worker had been killed and two others seriously injured at a fire that broke out at Dalmia Cement’s Banjari cement plant on 1 September 2023. The staff were reportedly cleaning the kiln at the unit in Bihar when the incident took place, according to the Hindustan Times newspaper. The name of the dead worker has been confirmed as Sanjiv Kumar Singh.

India: Dalmia Cement (Bharat) has appointed Puneet Dalmia as its managing director (MD) and chief executive officer (CEO). He will succeed Mahendra Singhi in the role in December 2023. Singhi will remain working for the company as Director and Strategic Advisor to the MD and CEO to aid the transition process.

Puneet Dalmia has been the MD of Dalmia Cement (Bharat)’s parent company Dalmia Bharat since 2004. Prior to this co-founded JobsAhead.com in 1999, which was sold to Monster.com in 2004. Dalmia is also the chair of the Development Council for Cement Industry (DCCI), set up by the Government of India in June 2021. He holds a master of business administration (MBA) postgraduate degree from IIM-Bangalore and holds a bachelor of technology degree from IIT-Delhi.

India: Germany-based Gebr. Pfeiffer says that it has received orders for two MVR 3750 C-4 vertical roller mills from Dalmia Cement (Bharat). The producer plans to install one mill at its Ariyalur grinding plant in Tamil Nadu and the other at its Kadapa grinding plant in Andhra Pradesh. Gebr. Pfeiffer says that the mills will be employed in grinding clinker and pond ash. Each will produce 160t/hr of cement or fly ash cement. The supplier said that the mills' vertical design will help them to dry pond ash, as well as grinding and classifying it.

India: Dalmia Bharat sold 7Mt of cement during the first quarter of the 2024 financial year, up by 12% year-on-year from 6.2Mt in the first quarter of the 2023 financial year. The company's income also rose, by 10% to US$442m, while its net profit dropped by 30% to US$17.6m. Hindu BusinessLine News has reported that the producer noted a continued downward trajectory to its fuel costs. During the quarter, Dalmia Bharat commissioned its new 2.5Mt/yr Bokaro cement plant in Jharkhand, and completed de-bottlenecking work at its 0.6Mt/yr Midnapore plant in West Bengal.

Managing Director and CEO Puneet Dalmia said "This quarter has been a disappointment as against our expectations. Having said so, we remain focused on seizing the emerging demand opportunities.”

Cement Managing Director and CEO Mahendra Singhi added “Given the promising outlook for cement demand, the expectation of stable cement prices during the rest of the year, and the softening in commodity costs, we anticipate a gradual improvement in profitability."

India: Dalmia Cement (Bharat) plans to invest US$560m following the signing of a memorandum of understanding (MoU) with the Assam government on the construction of a new cement plant in the state. The Economic Times newspaper has reported that the producer expects the project to generate a total of 2500 new jobs.

Managing director and chief executive officer Mahendra Singhi said “This year also marks the 10th anniversary of Dalmia Bharat’s manufacturing presence in Northeast India. We remain deeply committed to continuing to be a partner in the region’s economic progress." He continued "The Northeast region has showcased a very forward-leaning mindset, being one of the fastest adaptors of low-carbon blended cement. The penetration of Low Carbon Green Cement is in line with our vision of becoming carbon negative by 2040, and further intensifies our commitment towards the Grey to Green movement.”

India: Dalmia Cement (Bharat) has launched Dalmia Supreme cement, a Portland pozzolana cement (PPC), in the Eastern India market. The producer says that the cement is a is a specialised, best-in-class product formulated for all construction applications, offering better workability, higher density, chemical resistance and strength and faster setting times than ordinary Portland cement (OPC). Dalmia Cement already sells Portland fly ash cement under its Konark cement brand.

Dalmia Cement (Bharat)'s head of sales, logistics, technical services and marketing Rajiv Prasad said “We are excited to introduce Dalmia Supreme Cement in the Eastern market. In line with the company’s customer-centric approach, this new offering is to cater to the growing needs of a specialised product for 'Stronger, Faster and Better' construction."