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Cement market up

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Cement markets have performed well over the past year, gaining the share market with most cement company shares looking up.

With infrastructure development in full swing in India, the cement sector stands to gain by the demand for cement in India. Markets have performed well over the past one year with Sensex delivering approximately 2.90 per cent over a one year period and almost 7.50 per cent on YTD basis.

Even as broader markets struggled to gain in double digits, three cement stocks have more than doubled in one year time frame. Kakatiya Cement Sugar & Industries Ltd (KCSI), Shiva Cement Ltd, and Deccan Cements Ltd, are the three stocks that have gained more than 100 per cent in one year time frame.

From Oct-15 to Oct-16 period KCSI has gained almost 226 per cent, Shiva Cement Ltd 147 per cent and Deccan Cement-128 per cent.

The other cement stocks that did well by generating more than 50 per cent returns over one year are Shree Digvijay Cement Company Ltd, Ramco Industries Ltd, OCL India Ltd, Burnpur Cement Ltd, Sainik Finance & Industries Ltd, Century Textiles & Industries Ltd, Heidelberg Cement India Ltd, Mangalam Cement Ltd, and Barak Cement Ltd.

(Source: PM)

ICICI Direct is bullish on UltraTech Cement and has recommended buy rating on the stock with a target price of Rs 4,600 in its research report. UltraTech Cement announced its Q2FY17 results that are not directly comparable due to adoption of new accounting standard (IND-AS). Under the new accounting standard, the company reported sales including excise duty. Hence, optically revenues look significantly higher than estimates (Rs 6,134.6 crore as against the estimated Rs 5,502.8 crore).

After adjusting for excise duty, revenues of Rs 5,397.9 crore are in line with the estimated figure. However, the EBITDA and PAT were above estimates mainly due to lower than anticipated power cost and higher than anticipated other income (IND AS impact). Revenues during the quarter declined 2.3 per cent year-on-year (YoY) to Rs 5,397.9 crore due to 3.1 per cent YoY decline in realisation (Rs 4,828 per tonne against the estimated Rs 4,804 per tonne), partly offset by 0.8 per cent YoY growth in volumes (11.2 MT as against the estimate of 11.5 MT) EBITDA per tonne increased 17.6 per cent YoY to Rs 978 per tonne (against estimateed Rs 900 per tonne) in Q2FY17, led by lower power and fuel cost per tonne and freight cost per tonne. The cement sector is poised to witness robust growth in the coming years, led by: improving demand, slowdown in capacity addition and consolidation. UltraTech being a pan India player makes it a key beneficiary of this upturn. Further, improving realisation and the companyGC?s focus on cost rationalisation is expected to aid margins. With the industry-leading growth, higher margins and healthy balance-sheet, maintain our positive view with a target price of Rs 4,600 per share (at 20.0 x FY18E EV/EBITDA).

(Source: ICICI Direct)

JK Lakshmi Cement plans to raise up to Rs 500 crore through private placement for which it will seek shareholders approval. The Board shall consider issue of non-convertible debentures (NCDs) of up to Rs 500 crore, in one or more tranches, on private placement basis subject to requisite approval of the shareholders, according to the company. Part of the $4 billion JK Group, JK Lakshmi Cement operates integrated cement facilities at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat (Gujarat) and Jharli (Haryana).

At present, it produces 8.4 million tonne annually and its capacity is scheduled to go up to 12 million tonne per annum shortly.

(Source: Moneycontrol)

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Economy & Market

Leonard Unveils Dual-Head Robotic Arm for Hazardous Industrial Demolition

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 Leonard unveils Descender Duo, a dual-head robotic demolition arm designed to improve industrial safety and reduce shutdown time by up to 50 per cent.

Industrial robotics and refractory services specialist Leonard has launched Descender Duo, a dual-head robotic demolition arm designed to improve safety, accelerate maintenance and reduce shutdown times in hazardous industrial environments. The system made its debut at Lisahally Power Station in Northern Ireland, removing 25 tonnes of slag material within hours.

Developed for the cement, metals, waste-to-energy and petrochemical industries, Descender Duo enables remote-controlled refractory demolition, anchor cutting and welding, and refractory spraying inside boilers, calciners and silos. Its vertical-access design eliminates the need for personnel to enter confined, high-risk spaces during these operations.

Weighing less than two tonnes, the pre-assembled system requires an access opening of just 1.2 m². Supported by an external overhead hoist, it uses electrically operated hydraulic stabilising legs to secure itself inside vessels. The robotic arm offers 360-degree rotation and is suited to vessels approximately 9 m in diameter, with its operating reach extendable through strategically positioned access points.

Equipped with two independently controlled robotic heads, Descender Duo can perform identical or different tasks simultaneously, including refractory demolition, anchor cutting and spraying. Its remote-control system incorporates live camera feeds, allowing operators to monitor operations without entering hazardous environments.

According to Leonard, the technology can deliver time savings of up to 50 per cent compared with manual methods. Its ability to operate at temperatures exceeding 100°C allows maintenance to begin as early as 24 hours after burner shutdown. An all-electric power supply further supports cleaner and more cost-efficient operations.

First Deployment Demonstrates Shutdown Efficiency

The system was first deployed at Burmeister & Wain Scandinavian Contractor’s (BWSC) Lisahally Power Station in Londonderry, Northern Ireland. The facility generates electricity from grade C waste wood, supplying approximately 40,000 homes and businesses.

Leonard and BWSC collaborated to develop a customised solution for the plant’s 26-metre furnace, where extensive external pipework created significant access challenges.

Mark Leonard, Managing Director, Leonard, said, “It required new thinking and rather than step away from the problem we were committed to solving it for the customer, with the customer. We’re relentless in our approach to tackling complex challenges, head-on. We took our years of cement plant experience, coupled with our working knowledge of the BWSC plant, and designed, engineered and tested a completely new vertical solution within just seven weeks from that initial conversation with the customer. That solution was the Descender Duo as we know it today.”

Traditionally, the furnace required a cooling period of up to 36 hours before preparatory work could begin, followed by manual slag removal using rope-access personnel. With Descender Duo, work commenced just 24 hours after shutdown, reducing downtime by up to one day.

The deployment removed 25 tonnes of slag within hours, eliminated the need for at least six workers to enter the hazardous furnace interior and saved 26 hours in the shutdown programme.

“The effectiveness exceeded expectation,” said Martin Doran, Plant Manager at Lisahally Power Station.

“When the Descender Duo concept was first discussed, we had to spend some time with the team from Leonard looking at how it was going to be moved into the furnace. Every site is different and that presented its own challenges, but nothing that the team couldn’t overcome. Once it was installed we were hugely impressed by its efficiency.”

Expanding Industrial Robotics Applications

Descender Duo joins Leonard’s existing portfolio of robotic maintenance solutions, including the Axis horizontal-access arm, Nano confined-space access arm, Charger cement mill media recharging system and Calibre cement mill media grading system.

Headquartered in Northern Ireland, Leonard provides robotic refractory demolition, installation, inspection and industrial maintenance services across the cement, metals, energy, biomass, glass and civil engineering sectors.

Formerly known as G Leonard, the company has more than 35 years of industry experience and operates across Europe, North America, the Middle East, Africa and Asia-Pacific.

The latest innovation reinforces Leonard’s focus on replacing hazardous manual processes with robotic systems that improve workforce safety, enhance operational efficiency and minimise industrial downtime.

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Concrete

Martin Engineering Appoints Ashwini Khunte as India General Manager

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Martin Engineering names Ashwini Khunte India General Manager to strengthen operations and drive growth across key bulk material handling sectors.

Pune

Martin Engineering, a global provider of bulk material handling solutions, has appointed Ashwini Khunte as General Manager of its India business, strengthening its leadership as the company expands its presence across the country’s cement, mining, steel, power and infrastructure sectors.

Khunte brings more than a decade of experience with Martin Engineering, having joined its Indian operations in 2013 as a Design Engineer, shortly after the company established its presence in the country in 2012.

A mechanical engineer by qualification, she spent her initial five years developing bulk material handling solutions in collaboration with the company’s operations team. During this period, she gained extensive experience addressing operational challenges in the steel, cement and coal industries. She subsequently moved into project engineering, managing major engineering, procurement and construction (EPC) and original equipment manufacturer (OEM) projects from initial enquiry to commissioning. Her responsibilities later expanded to overseeing Martin Engineering’s conveyor product portfolio in India, involving customer engagement, technical presentations and site visits across heavy industries.

In 2024, Khunte was promoted to Head of Sales & Marketing for the company’s Europe, Middle East, Africa and India (EMEAI) region. The position broadened her international market exposure and strengthened her strategic and commercial leadership capabilities.

Commenting on her appointment, Ashwini Khunte, General Manager, Martin Engineering India, said: “India represents a tremendous opportunity for Martin Engineering. The country’s continued investment in cement, mining, steel, power and infrastructure is creating increasing demand for safer, cleaner and more productive bulk material handling, and that’s exactly what we do. My priority will be to build on the strong foundations already established in India, while continuing to develop our people, strengthen customer relationships and bring practical solutions to the challenges faced by our industry.”

Robert Whetstone, Area Vice President – EMEAI, Martin Engineering, highlighted Khunte’s technical expertise, market understanding and leadership experience.

“Ashwini brings an exceptional combination of technical understanding, customer knowledge and commercial leadership. She has grown as Martin Engineering has grown, and has consistently demonstrated outstanding capability to transform her expertise into practical solutions. Her knowledge of the Indian market, together with her international experience, makes her ideally suited to lead our India business through its next stage of growth for years to come.”

Since establishing its Indian business in 2012, Martin Engineering has expanded its local workforce, manufacturing capabilities and dealership network. The company supplies conveyor products, transfer point solutions, material flow aids, training and technical support to bulk material handling industries. Khunte’s appointment positions the company to further strengthen customer relationships and expand its solutions portfolio in India’s growing industrial and infrastructure markets.

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Concrete

Fornnax Wins AIRIA’s Special Export Award for Rubber Machinery in 2025-26

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Fornnax Technology Pvt. Ltd. has been honoured with the Special Export Award – Rubber Machinery for 2025–26 by the All-India Rubber Industries Association (AIRIA), in recognition of its highest exports of tyre recycling plants to the European region.

With more than a decade of experience in India’s tyre recycling industry, Fornnax has contributed to the development of advanced recycling technologies and infrastructure. The company currently holds a 90% market share in India’s domestic tyre recycling sector, while exports account for 30% of its business, spanning markets such as Europe, Australia and the GCC.

The award marks another milestone for Fornnax, whose tyre recycling lines and advanced shredding technologies are supporting the growth of the circular economy in India and international markets.

Commenting on the recognition, Mr. Jignesh Kundaria, Founder and Director of Fornnax, said:

“This honour from AIRIA is a reflection of an incredible journey we have undertaken over the years. When we started Fornnax, there was no established recycling industry in India to follow. We chose to build for the future instead. Today, when you see India’s tyre recycling sector, it has already transformed into a dynamic, high-growth industry and we are extremely proud to have played our part in building it.”

Unlike standalone equipment suppliers, Fornnax focuses on developing complete, high-capacity recycling infrastructure. Its integrated systems combine multiple stages of shredding and size reduction to enable efficient, continuous operations. This system-level engineering approach helps recycling operators improve throughput, equipment reliability and operational consistency.

The recognition reinforces Fornnax’s commitment to developing engineering technologies that contribute to a more efficient and circular recycling ecosystem.

Looking ahead, the company aims to expand its international presence while continuing to develop advanced shredding and recycling solutions to address the growing volumes and evolving requirements of the global recycling industry.

For more information, visit: www.fornnax.com

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