Displaying items by tag: Gharibwal Cement

Pakistan: Gharibwal Cement recorded sales of US$15.7m during the first quarter of its 2024 financial year (FY2024), up by 14% year-on-year from US$13.8m in the first quarter of its 2023 financial year (FY2023). The producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 10% to US$3.49m from US$3.89m.

Gharibwal Cement said that it expects local cement demand to remain ‘sufficient’ to maintain its sales growth throughout the rest of FY2024. It noted that rising coal and fuel prices may further impact its earnings for the year.

Pakistan: The government of the Punjab will charge cement producers in the state up to US$0.93/m³ for ground water used in their cement production. The Dawn newspaper has reported that the charge will depend on water availability, and be US$0.6/m³ in water secure areas, US$0.85/m³ in semi-critical areas and US$0.93/m³ in critical areas most affected by drought. The measure aims to encourage rainwater harvesting in order to preserve water tables. The charges will fall upon Maple Leaf Cement, Gharibwal Cement, Dandot Cement, Flying Cement, Askari Cement and Fauji Cement. They will remain in force until the establishment of a Punjab Water Services Regulatory Authority and its enactment of water extraction rates.

Pakistan: Gharibwal Cement has blamed reduced exports due to tensions on the Pakistan-Indian border and rising input costs for a reduction in its sales. Its net sales fell by 3% year-on-year to US$72.3m in the year to 30 June 2019 from US$74.5m in the same period in 2018. Its cement dispatches fell by 11.4% to 1.68Mt from 1.89Mt. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 6.5% to US$18.7m from US$20m.

The cement producer said that work on a new 0.15Mt clinker silo is in progress and this is expected to be completed by June 2020. It is also building a rainwater reservoir to capture precipitation for use in the production process. The company operates a 2.1Mt/yr integrated plant at Ismailwal in Punjab Province.

Pakistan: Gharibwal Cement has started commercial operation of a 250t/hr vertical cement mill for grinding cement. It says it is the single largest cement grinding mill in the country. The cement producer operates a 2.1Mt/yr integrated plant at Ismailwal in Chakwal.

Pakistan: Gharibwal Cement has started commercial operation of a 20MW waste heat recovery unit at its Jehuml plant in Punjab. According to its website it will generate 12MW from the waste hot gases of the cement production process and 8MW from a coal-fired system. The plant has a clinker production capacity of 6700t/day.

Pakistan: Gharibwal Cement Ltd (GCL) has shown an impressive increase of 447% in net profit for the third quarter of the current Pakistan fiscal year, which covered the three months to 31 March 2013.

The company made a net profit of US$1.81m compared to just US$330,500 in the three months to 31 March 2012. Net sales of the company were up by 17% to US$18.0m compared to US$15.3m during the year-earlier period.

Muhammad Rafique Khan, director of the company, said, "During the current nine month period cement industry achieved overall net volumetric growth of 4.9%. However, domestic sales volumes increased by 6.2% whereas export decreased by 1.2%."

He said that GCL's improved performance was due to increased sales volumes, improvement in net retention prices and continued efforts of the management to control costs. All these factors over a period of nine months enabled the company to increase its sales volume and sales revenue by 20% and 34% respectively.

During the period company operated at 47% of its installed capacity, which is better than the 39% capacity utilisation seen in the comparative period of 2012, although still very low. Keeping in view the continuous growth of cement dispatches, restructuring by major banks and financial institutions, stable selling prices and tight cost controls by the management, the company says that it will be able to perform better in the future.