Displaying items by tag: India

India: JSW Cement has undertaken work to improve a dried-up canal in order make it a source of water for the irrigation needs of farmers in Bilakalaguduru village, Andhra Pradesh. The Hindu newspaper has reported that the JSW Cement team has redirected overflow water from a limestone quarry. JSW Cement also built a new temple to the gods Balaji and Varahaswamy in Nandyal, Andhra Pradesh using local black limestone.

India: Mahendra Singhi, the president of the Cement Manufacturers Association (CMA), says that the cement sector can grow its exports with support from the government. He made his comments at the 16th Green Cementech 2020, a virtual conference organised by the CMA and the Confederation of Indian Industry (CII), according to the Hindu newspaper. Singhi said, “The cement industry in India is already aligned with the new vision of self reliance (atmanirbharta) of Prime Minister Narendra Modi. With the right policies in place and support from the government, the Indian cement industry can even increase its production capacity and contribute significantly to India’s global trade and exports.”

India: The India Cements recorded a profit of US$4.70m in the fiscal year ending 31 March 2020, down by 49% year-on-year from US$9.18m in the 2019 fiscal year. Sales fell by 10% to US$669m from US$744m. The company attributed the fall in revenue partly to the suspension of operations in the fourth quarter following the beginning of the nationwide coronavirus lockdown in late March 2020.

India: The Great Places to Work Institute (GPWI) has awarded the title of ‘Best Place to Work’ in the cement and building materials sectors to Shree Cement. India Blooms News has reported that Shree Cement is also among the GPWI’s 100 Best Places to Work in all sectors. The certificating body reached its conclusions by collating responses from 2.1m employees of over 1000 companies in 21 different industries across India.

France: Vicat says that group business activity increased month-on-month between April and May 2020. In a special update on business in the context of the coronavirus, the company said that the outbreak’s impacts varied across the 12 countries in which it operates, all of which locked down due to the pandemic.

In France, the level of business is “slightly lower” than in May 2019 following a steady recovery from a “strong slowdown in mid-March 2020.” Macroeconomic and competition issues continue in Egypt and Turkey, not however due to the coronavirus outbreak, while volumes and prices have generally increased in Switzerland, the US, Brazil and Western Africa, except in Senegal, where the government has cancelled infrastructure projects. Following the pan-Indian lockdown between 24 March 2020 and 17 April 2020, business in India has resumed, albeit at a “level significantly below that of the same period of 2019.”

The group says that it is planning cost-cutting measures and has postponed a planned US price rise to late 2020.

India: Retail investor Radhakishan Damani has announced plans to acquire a majority stake in The India Cements. The deal is subject to the approval of competition authorities.

India: JK Cement’s sales rose by 10% year-on-year to US$763m in the financial year to 31 March 2020 from US$691m in the same period in 2019. Its sales volumes of cement decreased slightly to 9.8Mt and its profit after tax nearly doubled to US$63.5m. However, its sales fell slightly in the fourth quarter, sales volumes of cement dropped by 7% year-on-year to 2.9Mt and it reported a significantly reduced standalone net profit.

The cement producer said that its operations had gradually stabilising since coronavirus lockdown measures were relaxed. All of its integrated and cement grinding plants had resumed production and despatch. It noted that due to lower power demands less fly ash was available so it is sourcing this from other locations. Labour shortages are also affecting bag supplies and the availability of drivers. As part of cash conservation measures it has restricted capital expenditure to US$66m in the current financial year.

India: Odisha has received its first cement-free road near Amanapada, Cuttack District. The Pioneer newspaper has reported that researchers from the Kalinga Institute of Industrial Technology (KIIT) developed the new material, made from 100% industrial waste, in order to cut the CO₂ emissions involved in cement production and in anticipation of an acute limestone shortage in India in 25 – 50 years. KIIT founder Achyuta Samanta thanked the students whose work brought this pilot project to fruition. “The new technology has the potential to bring about a revolution in engineering construction,” he said.

India: JSW Cement has said that it will delay a planned US$382m expansion of its installed capacity of 14Mt/yr to 25Mt/yr in 2023 until at least January 2021. The Business Standard newspaper has reported that JSW Cement previously postponed work to raise its capacity to 20Mt/yr in 2020, and that the economic situation following the coronavirus lockdown is “not conducive to the construction agenda.” JSW Cement chief executive officer (CEO) Nilesh Narwekar said, “The plans are being deferred by 6 – 12 months but we are not sure that they will happen.” Financing for the work was due to be split 50:50 between internal accruals and bank loans.

India: In the fourth quarter of the fiscal year ending 31 March 2020 Dalmia Bharat sold 5.17Mt of cement worth US$326m, down by 13% year-on-year from US$374m in the same period of the previous fiscal year. Net profit for the quarter was US$3.16m. The company said that the figure was “not comparable to the previous year’s fourth quarter profit of US$34.6 due to a change in reporting standards, according to the Press Trust of India. Full year net profit fell by 32% to US$31.3m from US$45.9m and revenues grew by 2% to US$1.27bn from US$1.25bn.