Displaying items by tag: Nuvoco Vistas
Nuvoco Vistas raises nine-month revenues in 2024 financial year
31 January 2024India: Nuvoco Vistas recorded revenues of US$943m in the first nine months of the 2024 financial year (1 April – 31 December 2023). This represents a rise of 2% year-on-year from the corresponding period of the previous financial year. This enabled Nuvoco Vistas to turn a positive net income, of US$5.66m, compared to a loss of US$22.3m one year previously. Premium products constituted 1.45Mt (36%) of the producer’s total third-quarter cement sales of 4.02Mt. Nuvoco Vistas ended 2023 with 25Mt/yr in installed production capacity, making it India’s fifth largest cement producer.
Managing director Jayakumar Krishnaswamy said “Despite the challenging demand environment, the company continues to deliver strong growth in earnings before interest, taxation, depreciation and amortisation (EBITDA). During the third quarter of the 2024 financial year, we achieved the highest EBITDA per tonne in 10 quarters, a testament to our operational excellence, focussing on cost efficiency and value-led growth.”
Nuvoco Vistas expands Bhiwani cement plant’s grinding capacity
31 January 2024India: Nuvoco Vistas has commissioned a 1.2Mt/yr cement mill at its Haryana Bhiwani cement plant in Haryana. This expansion will help Nuvoco Vistas to raise its production volumes in Northern India and to diversify its product offering.
Managing director Jayakumar Krishnaswamy said “We are set to seize the opportunities. We continue to emphasise quality and innovation, and secure a larger market share in the North while retaining our leadership position in the East. On the ready-mix concrete end of the value chain, we have also commissioned five new plants in the current fiscal, bringing our total to 56 plants pan-India.”
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.”
Nuvoco Vistas launches Duraguard Microfibre fibre reinforced cement
15 September 2023India: 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."
Nuvoco Vistas commissions alternative fuel feeding systems at Nimbol and Risda cement plants
23 June 2023India: 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.
Third quarter of 2023 financial year yields increased sales and earnings for Nuvoco Vistas
07 February 2023India: 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.
Nuvoco Vistas to increase cement capacity by 4.58Mt/yr
11 February 2022India: 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.