Displaying items by tag: Shiva Cement
India: JSW Cement subsidiary Shiva Cement’s three-month net loss for the quarter ended 30 September 2020 – the second quarter of the 2021 financial year – was US$0.85m, up slightly from the second quarter of the 2020 financial year. Dion News Service has reported that the company recorded a revenue fall of 6.5%, to US$0.72m from US$0.77m. Operating expenses fell by 12% to US$1m from US$1.2m.
Shiva posts loss in first fiscal quarter
26 August 2020India: 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.
JSW eyes 25Mt/yr capacity expansion by 2023
28 November 2019India: JSW Cement has revised its planned expansion to its 14Mt/yr total installed capacity to 39Mt/yr before 1 January 2023, an increase of 5Mt/yr compared to its initial target of 34Mt/yr by 2020. The figure includes JSW’s 54% subsidiary Shiva Cement’s new 1Mt/yr integrated and 1Mt/yr grinding plant, valued at a total of US$112m. Parth Jindal, JSW Cement managing director, said that the figure had been revised upward because Shiva Cement had become self-sufficient in clinker production, freeing the group’s east Indian cement production from ‘volatile import costs.’
Economic Times has reported that Shiva Cement is set to bring its limestone reserves to 100Mt with the acquisition of the Khatkurbahal mine. The company sources its granulated blast furnace slag from the Odisha steel industry. Production of JSW Cement’s flagship product, JSW Portland Slag Cement (PSC), releases CO2 at a rate of 325kg/Mt compared to between 760kg/Mt and 800kg/Mt for typical Ordinary Portland Cement (OPC).
Shiva Cement buys ACC’s stake in JSW Cement
13 March 2017India: ACC has sold its 12.1% in Shiva Cement to JSW Cement for US$5.8m. Following the sale JSW Cement now holds the entire promoter holding in Shiva Cement, according to the Mint newspaper. In January 2017 JSW Cement announced that it was making an open offer to buy out Shiva Cement. Shiva Cement operates a 0.2Mt/yr cement plant in Rourkela, Odisha.
JSW Cement makes open offer to buy out Shiva Cement
11 January 2017India: JSW Cement has acquired a promoters' share in Shiva Cement and has also launched an open offer to acquire a 32% stake from public shareholders in the company. JSW Cement, with Sun Investments Private and Reynold Traders, has made an open offer to the public equity shareholders of Shiva Cement to buy up to a 32% share in the company at a value of US$12.8m. In late September 2016 promoters of Shina Cement held a 37.15% stake, while public shareholders held the remaining 62.85%, according to Indian media.
Demonetisation halves cement demand in November 2016
09 December 2016India: Demonetisation of high value Indian rupee currency notes reduced cement demand by 45 – 50% in November 2016. Demand for cement fell across regions with the central region including Uttar Pradesh and Madhya Pradesh suffering the least, according to the Hindu newspaper. The decline has hit the industry when it was expecting an increase in demand stimulated by infrastructure development following the monsoon season.
A slowdown in real estate activity has particularly affected the cement industry as the majority of cement in the country is used by the realty sector. RP Gupta, chairman and managing director of Shiva Cement, said that contractors are finding it difficult to make cash payments for buying raw materials such as sand, bricks and stones as well as paying wages. Cement companies are reportedly trying to help dealers install bank or credit card payment machines to reduce cash-based transactions.
Shree Cement denies links to Shiva Cement deal
21 November 2016India: Shree Cement has denied that it is in talks to buy a majority stake in Shiva Cement describing media reports as ‘purely speculative.’ Local media had reported that Shree was considering buying Shiva for around US$0.22/share.
Shiva Cement has a 0.2Mt/yr cement plant near Rourkela in Sundergarh district in Odisha with on-going plans to upgrade the site to 1Mt/yr. The company also has captive limestone reserves in the area and produces both Sumangal
Nepal: Nepal has endorsed a US$360m Foreign Direct Investment (FDI) proposal made by China's Hongshi Holdings to establish a cement plant in Nepal in partnership with Nepal's Shiva Cement. This is the largest FDI pledge yet from China, according to the government officials.
China's Hongshi Holdings and Nepal's Shiva Cement reached an agreement in March 2015 to set up a cement plant in Nepal. Officials at the IBN said this is the third-largest FDI in cement plants in Nepal. As per the agreement, Hongshi Holdings will invest 70% in the project, while the Shiva Cement will invest the remaining amount.
According to Nepal's Cement Manufacturers' Association, there are more than 40 (mainly mini) cement plants in the country and domestic products only account for 85% of domestic consumption.
Shiva Cement's cement dispatches up by 16%
20 July 2015India: Shiva Cement's dispatches of cement and clinker in the April – June 2015 quarter rose by 16% year-on-year, according to MoneyControl.
New Chinese-led cement plant coming to Nepal
18 March 2015Nepal: Two private companies have signed an agreement of joint venture investment worth US$300m for cement production in Nepal. The investment, one of the biggest in Nepal's cement sector, has a 7:3 equity structure between Hongshi Holdings Limited of China and Nepal's Shiva Cement.
"This project will adopt a dry process with the use of 95% domestic raw materials," Xu Youyuan, Executive Vice President of the Chinese company said at the signing ceremony. He added that Hongshi had been attracted to Nepal's market by its booming cement industry in 2012.
Addressing the ceremony, Finance Minister of Nepal, Ram Sharan Mahat, said that the signing of this project was a landmark between the economic ties of the two neighbours and that he was happy to see that Chinese investors had shown confidence in Nepal. He even suggested that Nepal might become a net exporter of cement in the coming years.