Economy & Market

30% cut in India Cements profits

Published

13 years ago

November 5, 2012

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The India Cements on November 5 said it earned a net profit of Rs 49.08 crore for the quarter ended September 2012, down 30 per cent from Rs 69.71 crore it earned in the corresponding period last year, disappointing markets.

India Cements is South India’s largest cement maker by volume.

N Srinivasan, vice-chairman and MD of India Cements said that the company’s profits were lower as it suffered from increased input costs due to power and fuel. The company’s power and fuel costs were up 21 per cent during the quarter at Rs 328.48 crore.

The profits disappointed markets. Numbers were below our estimate with sales being largely inline. However, lower realisation and increase in power cost dragged EBITDA margin to 18.3 per cent versus the estimate of 22 per cent. Going forward we expect power costs to reduce with shipments from Indonesian coal mines likely by the January-March quarter, Rikesh Parikh of Motilal Oswal, a domestic brokerage said.

With the 12-day power holiday every month, only 20 hours of supply a day in Andhra Pradesh and the precarious power situation in Tamil Nadu, the company was forced to buy 3.8 crore units of power at an average cost of Rs 8.80 a unit. The company purchased only 42 lakh units in the corresponding quarter last year.

Concrete

Shree Cement reports 2025 financial year results

Published

4 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

4 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

4 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/