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Ramco Cements Q1 net up 57percent at Rs 156 cr

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Ramco Cements Ltd has reported a 57 per cent growth in net profit during the quarter ended June 2016 at Rs 156 crore, as compared to Rs 99.24 crore for the quarter ended June 30, 2015.
Total income has increased from Rs 949.24 crore for the quarter ended June 30, 2015 to Rs 973.95 crore for the quarter ended June 30, 2016.
Sales volume in the domestic market during the quarter increased to 20.45 lakh tonnes from 17.82 lakh tonnes, a year ago. However, exports remained flat at 0.31 lakh tonnes.
The company said that there has been an improvement in the off-take of cement by about 15 per cent during the quarter. Ramco continued to focus on cost reduction measures and reduced the operating and logistics costs significantly and is confident of sustaining the momentum in the coming quarters also.
The cement major also reduced borrowings by around Rs 312 crore out of internal accruals and reduction in working capital during the quarter.

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Concrete

CCU testbeds in Tamil Nadu

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Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

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Concrete

JSW Cement gears up for IPO

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JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

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Concrete

Cement industry to gain from new infrastructure spending

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As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

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