Economy & Market

Shree Cement Pulling ahead

Published

12 years ago

August 31, 2014

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Shree Cement (SRCM) reported an EBITDA/t of Rs 1,183, much higher than peers. Volume growth continued to impress (3.7 mTPA, 17.3 per cent YoY) and realisations remained strong in the aftermath of the Binani closure (Rs 4,009/t, 11.3 per cent YoY, 3.4 per cent QoQ). Power division barely broke even (EBITDA loss of Rs 10 mn), given higher landed fuel costs. This was also reflected in cement operating costs hardening by ~1.4 per cent QoQ (to Rs 2,825/t or Rs 141/bag)

SRCM announced the acquisition of JPA?s Panipat grinding unit (1.5 mTPA) for Rs 3.6 bn (US$ 40/t). Given its excess clinker capacity in North, the acquisition is a shot in the arm as it provides a ready grinding capacity at a reasonable valuation. It also brings the company closer to its target of 25 mTPA by 2015. The company may show positive movement in stock valuations given, 1) Unmatched operational excellence, outlined in its lowest cost; and 2) Capital cost leadership, as demonstrated through continued reinvestment at reasonable cost.

Concrete

WCA Welcomes SiloConnect as associate corporate member

Published

4 days ago

April 13, 2026

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The World Cement Association (WCA) has announced SiloConnect as its newest associate corporate member, expanding its network of technology providers supporting digitalisation in the cement industry. SiloConnect offers smart sensor technology that provides real-time visibility of cement inventory levels at customer silos, enabling producers to monitor stock remotely and plan deliveries more efficiently. The solution helps companies move from reactive to proactive logistics, improving delivery planning, operational efficiency and safety by reducing manual inspections. The technology is already used by major cement producers such as Holcim, Cemex and Heidelberg Materials and is deployed across more than 30 countries worldwide.

Concrete

TotalEnergies and Holcim Launch Floating Solar Plant in Belgium

Published

4 days ago

April 13, 2026

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TotalEnergies and Holcim have commissioned a floating solar power plant in Obourg, Belgium, built on a rehabilitated former chalk quarry that has been converted into a lake. The project has a generation capacity of 31 MW and produces around 30 GWh of renewable electricity annually, which will be used to power Holcim’s nearby industrial operations. The project is currently the largest floating solar installation in Europe dedicated entirely to industrial self-consumption. To ensure minimal impact on the surrounding landscape, more than 700 metres of horizontal directional drilling were used to connect the solar installation to the electrical substation. The project reflects ongoing collaboration between the two companies to support industrial decarbonisation through renewable energy solutions and innovative infrastructure development.

Concrete

Cortec® Corporation applauded for its strong safety performance

Published

4 days ago

April 13, 2026

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Cortec® Corporation has been recognised for its strong safety performance, receiving its sixth Governor’s Workplace Safety Award for its outstanding performance in 2025. As a Silver Achievement recipient, the company continues to maintain safety metrics well above national industry averages, an impressive accomplishment for a chemical manufacturing organisation. This achievement reflects Cortec’s proactive approach to workplace safety, focused on early hazard detection and employee involvement. The company will be formally recognised at the Minnesota Safety and Health Conference in May, highlighting how industrial companies are effectively strengthening workplace safety standards.