Economy & Market

India Ratings maintains stable outlook for cement firms for FY18

Published

8 years ago

March 1, 2017

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India Ratings and Research has maintained a stable outlook on cement manufacturers for financial year 2017-18 due to stable demand growth, despite an increase in input cost. The rating agency also expects cement prices to go up during FY 2017-18 on stable demand.
"Ind-Ra expects stable cement demand to enable cement manufacturers to pass on increases in cost during FY18," the ratings agency said.
It expects the credit profile of cement manufacturers to remain stable on stable operating profitability and in the absence of debt-led capex. The operating profitability of cement manufacturers in the next financial year will be around the FY16 and estimated FY17 levels on increase in government expenditure, according to the agency.
The ratings agency has revised down its growth estimates for the cement industry to 3-3.5 per cent in the current financial year from 4-6 per cent earlier due to a drop in demand due to demonetisation.
It, however, expects the cement industry to grow 4-5 per cent year-on-year in the next fiscal, driven largely by demand from infrastructure activities and a revival in housing demand in rural areas, both led by government spending.

Concrete

UltraTech Cement boosts capacity with new clinker line

Published

1 week ago

April 21, 2025

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UltraTech Cement has commissioned a 3.35 million tonnes per annum (Mt/yr) brownfield clinker line and one of two 2.7Mt/yr cement grinding mills at its Maihar facility in Madhya Pradesh. The second mill is expected to be operational in Q1 of FY2026. The company has also expanded its Dhule (1.2Mt/yr) and Durgapur (0.6Mt/yr) grinding units and inaugurated its first bulk terminal in Lucknow with a 1.8Mt/yr handling capacity.

Concrete

Ambuja Cements gets a new CEO

Published

1 week ago

April 21, 2025

Roshna

Ambuja Cements has named Vinod Bahety as its CEO for a three-year term, following Ajay Kapur’s elevation to Managing Director. Bahety, formerly the company’s CFO, brings over 25 years of experience in finance and manufacturing, including a previous role as Group Head of M&A at Adani Group. Other key appointments include Rakesh Tiwary as CFO, Madhavi Isanaka as Chief Digital Officer, Vaibhav Dixit as Manufacturing Head, and Ashwin Raikundaliya as Chief Sustainability Officer.

Image source:www.exchange4media.com

Concrete

Dalmia Bharat reaches 49.5 MTPA with Rohtas expansion

Published

1 week ago

April 21, 2025

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Dalmia Bharat has successfully achieved its FY25 production capacity target of 49.5 million tonnes per annum (MTPA). This milestone was reached following the commencement of commercial production at its Rohtas Cement Works (RCW) in Bihar, where an additional 0.5 MTPA capacity has been added from March 30, 2025.
The expansion, which involved an investment of `96 crore, boosts the Rohtas plant’s total capacity to 1.6 MTPA. This development underscores the company’s continued focus on strengthening its presence in eastern India and aligns with its long-term goal of scaling total capacity to between 110 and 130 MTPA by the year 2031.
Puneet Dalmia, Managing Director and CEO, Dalmia Bharat, shared, “The Eastern region holds immense promise, and this expansion is a reflection of our commitment to contribute meaningfully to its infrastructure growth. Reaching the 49.5 MTPA mark is a key step in our journey towards sustainable and strategic expansion.”