Displaying items by tag: India

India: JSW Group has announced the combination of the distribution and supply chain of its cement and steel businesses under an integrated JSW One initiative to make it easier for customers to source its products. JSW One has commenced operations in eastern India and will be scaled-up across the country over the next couple of years.

“JSW One will derive synergies to benefit both the steel and cement businesses by streamlining and maximising the depth and expanse of JSW Group’s sales and supply chain network,” said the group in a statement. “It will also combine the group’s expertise across product portfolio to provide comprehensive service capability to its customers.”

India: Shiva Cement has reported a standalone net loss of US$365m for the first quarter of the current fiscal year (1 April 2020 – 30 June 2020). However, the loss was 33% lower than the US$556m that it lost in the corresponding quarter of the 2019-2020 fiscal year. Shiva’s net revenue also declined substantially, by 22.6%, to US$1.11bn during the quarter, compared to US$1.43bn a year earlier. The company’s operating profit slipped to a loss of US$273m, as against a profit of just US$12,000 a year ago.

India: Metals producer Hindalco has won a contract to supply fellow Aditya Birla subsidiary UltraTech Cement with 1.2Mt/yr of bauxite residue from its aluminium operations, up by 180% from 250,000t in the 2020 financial year, which ended on 31 March 2020. The Economic Times newspaper has reported that UltraTech Cement will use the bauxite residue – or ‘red mud’ – in cement production at 14 of its plants across seven states. As a result of the deal, Hindalco, the world’s largest producer of rolled aluminium, will have full bauxite residue utilisation across three of its refineries. Managing director Satish Pai said, “We have been working with producers to develop high-grade inputs for the cement industry.”

India: Birla Corporation has launched a promotional video entitled ‘Never Will I Ever’ that celebrates the idea of home as somewhere with room for everyone. The video, launched to coincide with Independence Day, consists of inspiring coronavirus lockdown stories. Marketing vice president Suvadip Ghosh Mazumdar said, “Construction is not only about brick and mortar. In the last few months, we have seen many occasions of relationships being built and bonds of togetherness being created. The film is our salute to this spirit of togetherness and coming together of people."

India: State-owned energy supplier NTPC Limited has announced the shipment of 3450t of fly ash from its 3.0GW Rihand power station in Uttar Pradesh to Switzerland-based LafargeHolcim subsidiary ACC Cement’s 3.0Mt/yr Tikaria grinding plant, also in Uttar Pradesh. The Orissa Diary newspaper has reported that the shipment – the first from a new purpose-built rail depot – over 458km is part of NTPC Limited’s commitment to 100% total fly ash utilisation, up from 73% in the 2020 financial year, ended 31 March 2020. ACC supply chain head Suresh Rathi said, “This will pave the way for efficient and safe transportation of all fly ash from power plants to cement production units located at a distance in larger quantity.”

NTPC Limited generates some 60.5Mt/yr of fly ash alongside 62.9GW of power.

India: Low demand for power due to the 25 March 2020 – 31 August 2020 nationwide coronavirus lockdown has caused Shree Cement to suspend some of its power plant operations due to a lack of buyers. The Business Standard newspaper has reported that 300MW of Shree Cement’s 650MW power generation capacity produces power for sale to other users on the national grid. Joint managing director Prashant Bangur said, “Owing to the lockdown, power demand was impacted and some of our power capacities were shut. Power demand has not completely recovered yet. Right now, power plants are shut because there is no demand; viability is the second part.”

The first stage of lifting lockdown was announced on 1 June 2020.

India: Aditya Birla subsidiary Grasim Industries recorded a loss of US$36.0m in the first-quarter of the 2021 financial year (1 April 2020 – 30 June 2020), compared to US$26.9m profit in the first quarter of the 2020 financial year. The company attributed this to a 61% year-on-year fall in sales to US$260m from US$668m due to ‘lower realisation and weak demand’ during coronavirus lockdown. Consolidated cement sales over the period were US$228m, down by 29% year-on-year from US$320m.

India: Aditya Birla subsidiary UltraTech Cement said that it will spend US$200m in capital expenditure (CAPEX) during the 2021 financial year, which ends on 31 March 2021. The plans consist of a capacity expansion to 118Mt/yr from 115Mt/yr, including the completion of the 4.0Mt/yr Bara grinding plant in Uttar Pradesh and 1.2Mt/yr-worth of brownfield projects in Bihar and West Bengal. Solar and wind power capacity will increase to 350MW from 95MW, while waste heat recovery (WHR) capacity will increase to 185MW from 118MW.

Chair Kumar Birla said, “While 2021 will be a challenging year, Birla remains confident that the economy will revert to the 6 - 8% growth trajectory in 2022.”

India: Star Cement’s profit in the first quarter of the 2021 financial year, to 30 June 2020, fell by 47% year-on-year to US$5.91m from US$11.2m. This was caused by a by 37% decline in sales to US$39.0m from US$61.6m. Earnings before interest, taxation, depreciation and amortisation (EBITDA) also fell, by 42% to US$8.72m from US$15.0m.

India: Shree Cement recorded a profit of US$49.6m between 1 April 2020 and 30 June 2020, up by 2.1% year-on-year from US$48.6m in the corresponding quarter of the previous financial year. Sales fell by 23% to US$311m from US$406m due to the impacts of the coronavirus lockdown, which ended during the quarter, on cement demand.