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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

Holcim UK drives sustainable construction

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Holcim UK has released a report titled ‘Making Sustainable Construction a Reality,’ outlining its five-fold commitment to a greener future. The company aims to focus on decarbonisation, circular economy principles, smarter building methods, community engagement, and integrating nature. Based on a survey of 2,000 people, only 41 per cent felt urban spaces in the UK are sustainably built. A significant majority (82 per cent) advocated for more green spaces, 69 per cent called for government leadership in sustainability, and 54 per cent saw businesses as key players. Additionally, 80 per cent of respondents stressed the need for greater transparency from companies regarding their environmental practices.

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Concrete

GCCA releases LCR system

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The Global Cement and Concrete Association (GCCA) has launched the Low Carbon Ratings (LCR) system for cement and concrete, a new global rating based on products’ carbon footprints. The system uses a clear AA to G scale to help customers prioritise sustainability in material selection across construction sectors worldwide. The GCCA says that the LCR system is designed to be easily recognisable, with a simple visual graphic that indicates a product’s rating and provides consistency and comparability to other products.

Image source:highways.today

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Concrete

FLSmidth opens eco-friendly plant in Casablanca

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FLSmidth has inaugurated a €21 million mill liner manufacturing plant in Casablanca, covering 11,250m² with a production capacity of 6,500 tonnes annually. The LEED-certified facility significantly reduces carbon emissions by up to 56 per cent and fully recycles water used in the manufacturing process. Up to 250 jobs will be created in the Valparaíso region. Mikko Keto, CEO, highlighted the plant as a symbol of FLSmidth’s commitment to sustainable mining and community engagement in South America. Earlier in 2024, the Denmark-based company announced plans to sell its cement division to sharpen its focus on mining operations.

 

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