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30% cut in India Cements profits

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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.

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Concrete

thyssenkrupp Polysius, SaltX partner for electrified production

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thyssenkrupp Polysius and Swedish startup SaltX have signed a Letter of Intent (LOI) to co-develop the next generation of electrified production facilities, advancing industrial decarbonisation. Their collaboration will integrate SaltX’s patented Electric Arc Calciner (EAC) technology into thyssenkrupp Polysius’ green system solutions, enabling electric calcination, replacing fossil fuels with renewable energy, and capturing CO2 for emission-free production. Dr Luc Rudowski, Head of Innovation, thyssenkrupp Polysius, emphasised that this partnership expands their portfolio of sustainable solutions, particularly in cement, lime, and Direct-Air-Capture (DAC). Lina Jorheden, CEO, SaltX, highlighted the significant CO2 reduction potential, reinforcing their commitment to sustainable industrial processes.

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Concrete

Terra CO2 secures $82m to scale low-carbon cement technology

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Terra CO2, a US-based sustainable building materials company, has raised $82 million in Series B funding, co-led by Just Climate, Eagle Materials and GenZero, with continued support from Breakthrough Energy Ventures. The investment will accelerate the commercial deployment of Terra’s OPUS technology, enabling the construction of multiple production facilities across North America and Europe. With the cement industry responsible for 8 per cent of global CO2 emissions, Terra’s solution provides an immediate, scalable alternative using abundant raw materials that integrate seamlessly with existing infrastructure. The company has secured key partnerships, including a deal with Eagle Materials for multiple 240,000-tonne plants.

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Concrete

Titan Cement Group enters South Asia

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Titan Cement Group has expanded into the South Asian market through a joint venture with JAYCEE, an India-based producer of supplementary cementitious materials. Titan will hold a majority stake in the newly formed company, Atlas EcoSolutions, which will focus on sourcing, processing, marketing, and distributing SCMs globally. This initiative aims to support sustainable construction by promoting alternatives to clinker-based cement. Jean-Philippe Benard, Head of Supply Chain and Energy Development, emphasised that the venture aligns with Titan’s strategy to lead in low-carbon building materials while reinforcing its commitment to sustainability and innovation. The move strengthens Titan’s position in a high-growth market while ensuring long-term access to SCMs.

 

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