Displaying items by tag: JK Lakshmi Cement

India: Built at a cost of more than US$276m, JK Lakshmi Cement's new Durg cement plant in Chhattisgarh has started production.

The plant has an installed capacity of nearly 2.7Mt/yr. Following commissioning, JK Lakshmi Cement's installed cement production capacity stands at 9.3Mt/yr. A part of the US$4bn JK Organisation, the Durg plant will produce various types of cement, including Ordinary Portland cement, Portland pozzolana cement and slag cement.

The Durg project had in 2013 attracted the wrath of the local inhabitants, who set fire to part of the under-construction plant. They were reportedly angered by the reluctance of JK Lakshmi Cement to give jobs to people affected by the project. This caused serious damages at the construction site.

India: JK Lakshmi Cement has reported a 31% turnover increase to US$111m in the second quarter of 2014, which ended on 30 June 2014, compared to US$85.0m in the corresponding quarter of 2013. The increase was attributed to 14% growth in production and an 18% increase in sales volumes.

JK Lakshmi Cement's operating profit during the quarter stood at US$19.3m. This represents a 58% increase compared to the same period of 2013, when operating profit was US$12.2m. After providing for interest and depreciation, the company's pre-tax profit rose to US$11.0m, compared to US$2.96m in the same period of 2013. After accounting for exceptional items and tax, JK Lakshmi Cement posted a net profit of US$6.73m for the second quarter of 2014, up from US$2.61m in the corresponding quarter of 2013.

JK Lakshmi Cement has reduced its fuel consumption to 715,000Cal/Kg of clinker in the second quarter of 2014, compared to 731,000Cal/Kg of clinker in the corresponding quarter of 2013. It has also reported satisfactory progress in its 2.7Mt/yr capacity greenfield cement plant in Durg, Chhattisgarh, which is expected to be commissioned in the third quarter of 2014.

India: Local villagers have been accused of setting fire to the JK Lakshmi Cement plant at Malpuri Khurd in Durg district on 4 April 2013. Police arrested 50 people following the disturbance.

Villagers of Malpuri Khurd, located around 50km from the state capital, were staging demonstrations in demand for jobs at the cement plant in exchange for their farmland. According to police reports the protest turned violent as around 200 protesters set fire to infrastructure including the cement plant, cars and tractors on the on the 80-acre site.

A company official for JK Lakshmi Cement estimated the loss in the fire to be around US$92m to US$128m, stating that almost 50% of the plant was gutted in the fire. The plant 's employees and officers also alleged that they were attacked by the mob.

However, villagers claim they did not set fire to the plant. Some villagers have been reported as having left their homes fearing police retaliation and local media has reported claims of intimidation by the plant management.

India: UltraTech Cement, one of India's largest cement producers, made 3.33Mt of cement in February 2013. Its cement dispatches stood at 3.31Mt for the same month.

Meanwhile, Shree Cement has reported that its production stood at 98,300t for the month, while its cement dispatches stood at 96,700t. Sales were down 16% year-on-year compared to February 2012.

Elsewhere, JK Lakshmi Cement has reported that its production (including clinker) for the month of February 2013 was 44,700t, while dispatches (including clinker) for the same period stood at 44,600t.

In the north, Mangalam Cement cement production of 153,793t during February 2013, while its cement dispatch stood at 163,034t.

India: JK Lakshmi Cement Ltd has informed the Bombay Stock Exchange that Shri Hari Shankar Singhania, chairman of the board of directors of the company and president, JK Organisation, passed away on 22 February 2013 at the age of 80.