Displaying items by tag: Nuvoco Vistas

India: Nuvoco Vistas sold 4.5Mt of cement during the second quarter of its 2024 financial year (FY2024), up by 1.2% year-on-year. Its revenues grew by 7% to US$309m, while its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 73% to US$40.4m. The producer achieved specific CO₂ emissions of 462kg/t and an alternate fuel (AF) substitution rate of 14%. During the quarter, it completed debottlenecking projects at the Risda, Chhattisgarh, and Nimbol, Rajasthan, cement plants. The company said that these raised its clinker capacity by 2000t/day. It also secured a new patent, for its fibre reinforced cement composition, and introduced its Concreto UNO and Duraguard F2F premium cements on the Jharkhand market.

Managing director Jayakumar Krishnaswamy said “Our value over volume strategy has positively contributed to the company’s performance. Our trade share has increased from 72% in the second quarter of the 2023 financial year (FY2023) to 74% in the second quarter of FY2024. In addition, the results also demonstrate our commitment to managing the dynamic cost environment through an optimised power and fuel mix, between conventional and clean energy sources.” He added “The expansion at the Haryana cement plant is expected to be completed in FY2024, which will enable us cater to strong demand in the Northern India region.”

India: Nuvoco Vistas has launched Duraguard Microfibre Cement, a fibre reinforced cement. The cement’s clinker is 48-52% tricalcium silicate, with low tricalcium aluminate, and contains electrostatically precipitated dry fly ash. The producer says that it offers enhanced bonding, crack resistance, strength and durability and reduced permeability, as well as a smoother surface finish, compared with ordinary Portland cement (OPC). Nuvoco Vistas first applied for a patent for the product in mid-2018.

Managing director Jayakumar Krishnaswamy said "We prioritise innovation. Our Construction Development and Innovation Centre (CDIC) is dedicated to creating sustainable and innovative products that meet the highest global standards. The awarded patent validates our unwavering commitment to innovation and keeps us in the forefront of pioneering advances in the cement industry, delivering exceptional quality and responsible business practices."

India: Nuvoco Vistas has commissioned feeding systems for alternative fuel (AF) in the pyro-process sections of its Nimbol and Risda cement plants. The systems will handle municipal solid waste, including unrecyclable plastic.

Managing director Jayakumar Krishnaswamy said "As part of our Protect Our Planet agenda, we view the AF projects as an important step towards fulfilling our commitment to sustainable cement manufacturing and reducing the environmental impacts. The successful completion of this project demonstrates our commitment to reducing carbon emissions, maximising waste consumption and demonstrating responsible resource management practices.” He added "This along with, other themes under Protect Our Planet agenda, is enabling Nuvoco to build robust partnerships with several stakeholders, and contribute to society at large.”

India: Nuvoco Vistas’ sales rose by 14% year-on-year during the 2023 financial year, to US$1.29bn. The group’s cement sales volumes were 18.8Mt, up by 5%. It recorded a profit after tax of US$1.95bn.

In 2023, Nuvoco Vistas achieved a cement alternative fuel (AF) substitution rate of 12%. Its emphasis on developing blended cements enabled it to achieve an industry-leading cement to clinker factor of 55%. It operations during the year relied on over 20% renewable energy.

India: Nuvoco Vistas recorded consolidated sales of US$315m during the third quarter of its 2023 financial year. This corresponds to a rise of 20% year-on-year from US$262m during the third quarter of the 2022 financial year. The producer's earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 13% year-on-year to US$33m from US$29.2m. As a result, the company was able to overcome increased costs to reduce its net loss by 12% to US$9.1m.

India: Nuvoco Vistas is promoting its products in Northern India with the launch of its Double Bull cement brand in the region. As part of the initiative it has increased its dealer network in the states of Haryana, Western Uttar Pradesh, Punjab, Delhi and Madhya Pradesh. It is also preparing to build a 1.2Mt/yr grinding plant at Bhiwani in Haryana to support its presence in the north of the country.

The cement producer manufactures Ordinary Portland Cement (OPC), Portland Slag Cement (PSC), Portland Pozzolana Cement (PPC) and Portland Composite Cement (PCC) products. Its flagship brands include the Concreto, Duraguard and Double Bull products.

India: Nuvoco Vistas recorded full-year consolidated sales of US$1.2bn in its 2022 financial year, up by 24% year-on-year. The group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) remained level year-on-year at US$198m. Its profit after tax also remained level at US$4.12m.

The Pioneer newspaper has reported that Nuvoco Vistas’ Chittor cement plant achieved an alternative fuel (AF) substitution capacity of 23% during the 2022 financial year. The group says that it remains focused on increasing its proportion of blended cement products, in addition to AF and waste heat recovery (WHR) projects.

India: Nuvoco Vistas plans to increase its installed cement production capacity by 21% to 26.9Mt through capital expenditures of more than US$253m. The Hindu BusinessLine News has reported that the company will invest US$200m in the establishment of its upcoming 2.18Mt/yr Kalaburagi cement plant in Karnataka. It will invest a further US$53.1m in upgrading its Bhiwani, Haryana, blending plant to make it into a 2.4Mt/yr grinding plant. Additionally, Nuvoco Vistas will establish alternative fuel (AF) processing plants at its Nimbol, Maharashtra, and Risda, Chhattisgarh, cement plants.

India: Nuvoco Vistas has received approval from the Securities and Exchange Board of India to launch an initial public offering (IPO) of shares worth US$670m. The Hindu newspaper has reported that the offering will consist of a US$201m issuance of shares and a US$469m offer for sale. Around US$180m of the funds will be used to reduce the group’s debts and the remainder will be used for general corporate purposes.

India: Nuvoco Vistas has appointed Abhijit Bhalerao as its chief information officer (CIO). He will be responsible for leading the technology initiatives at Nuvoco Group companies in business applications, enterprise architecture and infrastructure domains, according to the Economic Times of India newspaper.

Bhalerao was previously the Head of Group IT at Dr Abhay Firodia Group, including Force Motors, Jaya Hind Industries and several joint-ventures. He holds over 20 years of professional and technology consulting expertise using emerging technologies to deliver business-focused solutions. He has served as director at Ernst and Young and advised business chief executive officers on technology, infrastructure, IT architecture and organisation-wide analytics adoption. Other positions include working for HCL Technology, Essar, Raymond and Steelage Industries. He holds a master’s degree in Computer Software & Applications and a bachelor's degree in Engineering.