Displaying items by tag: India

India: Kaushalya Logistics (KLL) has launched a new cement depot in Ahmednagar, Maharashtra, enhancing its logistics services for Adani Cement. The depot will handle approximately 120,000t/yr of cement, supporting ACC and Ambuja Cement brands.

KLL has also introduced a new vertical in freight forwarding under full truck load services, commencing operations with VMS Equipment, a group company of construction equipment manufacturer ACE.

Managing director Uddhav Poddar said “We are thrilled to start this new association with Adani group with a new depot in Ahmednagar. Our collaboration with Adani Cement showcases our cement logistics capabilities, and our entry into the freight forwarding market marks a pivotal step in our growth strategy.”

India: Ambuja Cements will invest US$190m to establish a 6Mt/yr grinding plant in Warisaliganj, Bihar. The project is scheduled in three phases, with the first phase of 2.4Mt/yr costing US$131m, according to the company. The plant has secured environmental clearance and land allocation for potential future expansions, The Telegraph India reports. The project will reportedly create 250 direct jobs and 1000 indirect jobs and will contribute US$30m/yr to Bihar’s economy. It is targeted for completion by December 2025.

Pranav Adani, director of Adani Enterprises, said “This investment aligns with the state government’s development programmes and our growth plans. The cement industry is witnessing healthy volumes due to the government’s infrastructure thrust, and Ambuja Cements is well positioned to support sustainable infrastructure development in the country.”

India: JK Lakshmi Cement board has approved a corporate restructuring to merge three subsidiaries: Udaipur Cement Works, Hansdeep Industries and Trading, and Hidrive Developers and Industries. The merger is due for completion on 1 April 2025.

India: JSW Cement has entered the competition to acquire a 38% stake in Orient Cement from the CK Birla Group, against UltraTech Cement and Adani Group. UltraTech Cement is reportedly in advanced discussions with CK Birla, having proposed a share price range of US$4.18 - 4.48, which places the enterprise value at US$872m-931m. The Adani Group has also expressed interest in acquiring Orient Cement, although their negotiations have been hindered by valuation disputes and environmental clearance issues.

India: The board of Shiva Cement has approved plans to build a 1Mt/yr cement grinding plant at Sambalpur in Odisha. The unit will be built with Bhushan Power and Steel at one of its operating sites. As part of the deal Shiva Cement, a subsidiary of JSW Cement, has the option to buy the plant for US$45m. Approval from the Odisha Industrial Infrastructure Development Corporation and other relevant governmental authorities will be required to set up the plant.

India: UltraTech Cement, a subsidiary of Aditya Birla, has purchased a 33% stake in India Cements for US$472m. UltraTech now controls a 55% stake and plans to make an open offer for a further 20% at US$4.66 per share. The transaction, subject to regulatory approvals, values India Cements at approximately US$1.39bn and could increase UltraTech's holding to 75.49%, according to The Northlines news.

India: Wonder Cement has appointed Sanjiv Waid as State Head. He previously worked as a Sales Marketing Manager for Ambuja Cements and has held roles with Nuvoco Vistas and ACC. He holds a bachelor’s in Industrial Chemistry from Delhi University.

India: Gebr. Pfeiffer India has appointed Sridhar Shanmugha Sundaram as Senior Vice President, Head of Sales & Marketing.

Sundaram previously worked for FLSmidth for over 30 years. He started in the early 1990s as an Engineer – Plant Engineering and later became Manager - Cement Project Sales in India in the mid-2000s. Amongst other roles he was the Head of Project Sales in India in the mid-2010s and his last position with FLSmidth was as Vice President, Head of Global Product Line - Grinding and Gears from early 2023. Sundaram holds an undergraduate degree in Engineering from the College of Engineering Guindy in Chennai and an Executive Masters of Business Administration from Copenhagen Business School in Denmark.

India: Dalmia Bharat reported a net profit rise to US$17.3m for the first quarter of the 2025 financial year, up from US$17.2m crore in the same period in 2024. The company’s revenue from operations remained steady at US$433m. Cement sales volumes increased by 6% year-on-year to 7.4Mt, compared to 7Mt in 2023.

Managing director and CEO, Puneet Dalmia, said "During the quarter, even though cement demand was weak across regions amidst general elections, our volumes grew 6.2% year-on-year while margins improved to 18.5% from 16.9% in 2023."

India: UltraTech Cement reported a flat net profit for the three month period ending 30 June 2024 of US$203m, compared to US$202m in the same period in 2023. The company's income rose by 2% to US$2.18bn, while domestic sales volumes grew 7% year-on-year to 32Mt, despite a 9% decline from the previous quarter. EBITDA slightly declined to US$383m from US$384m.