Concrete

Building relations with our stakeholders is very important

Published

4 years ago

March 5, 2021

admin

JSW Cement is a pioneer in the Indian cement industry to introduce conversational commerce services to its customers. At the beginning of this year, the company partnered with Yalochat ??a conversational commerce service provider, to introduce artificial intelligence-based Anytime Anywhere Business transactions for its trade customers. The company believes that this initiative will differentiate JSW Cement as it traverses from the current 14 mtpa to 25 mtpa capacity by FY2023.

JSW has been actively undergoing digital transformation intending to deliver to its customers with timely improvements in the overall brand experience. For instance, it has digitised outbound marketing functions through mobile technologies. These technologies are deployed for the sales team to seamlessly interact with the channel partners.

JSW Cement has signed Sourav Ganguly and Sunil Chhetri as its brand ambassadors. It launched a new multi-media marketing campaign ??eader?? Choice??with the two sports icons that promote the ideology of crafting a solid foundation for a better future.

Gurminder Singh, Head of Branding, JSW Cement, says, “At JSW Cement, we believe that brand connect is very important. Not just with our customers, but with all our stakeholders like influencers, channel partners, transporters, society, and the environment.”

Also, the company is active on various social platforms. ??e are present across social media platforms with an intent to spread awareness, educate and interact with our customers. Our posts revolve around product features promoting eco-friendliness, sustainability, useful tips on home building, creating awareness on Covid, and so on. We also conduct interactive campaigns/ contests for our followers and lead generation activities on digital platforms.??/p>

Apart from this, the company has partnered with a few channels and has embraced platforms like Whatsapp, Dealer App, Internal Sales app, etc. To address customer queries faster, they have rolled out an application called– Saathi App.

JSW Cement has rolled out a 360-degree brand communication strategy, which includes market stormings, roadshows, Nukad Natak, IPL schemes, and dealer onboarding schemes.

Moreover, the company embarks on its digital presence through digital campaigns and films. Another interesting branding strategy is festive branding, where the company does the biggest Chandmala during Durga Puja and the biggest National Flag during Ganesh Chaturthi at Lal baghcha Raja.

Singh believes that building relations with our stakeholders is very important. They recognise the need of getting constant feedback and inputs from their dealers. During Covid pandemic, the company supported them in terms of telephonic doctor consultation, online covid care sessions, RTPCR tests, providing oxygen concentrators, and food/ grocery support.

Concrete

Construction Costs Rise 11% in 2024, Driven by Labour Expenses

Cement Prices Decline 15%, But Labour Costs Surge by 25%

Published

3 days ago

November 19, 2024

admin

The cost of construction in India increased by 11% over the past year, primarily driven by a 25% rise in labour expenses, according to Colliers India. While prices of key materials like cement dropped by 15% and steel saw a marginal 1% decrease, the surge in labour costs stretched construction budgets across sectors.

“Labour, which constitutes over a quarter of construction costs, has seen significant inflation due to the demand for skilled workers and associated training and compliance costs,” said Badal Yagnik, CEO of Colliers India.

The residential segment experienced the sharpest cost escalation due to a growing focus on quality construction and demand for gated communities. Meanwhile, commercial and industrial real estate remained resilient, with 37 million square feet of office space and 22 million square feet of warehousing space completed in the first nine months of 2024.

“Despite rising costs, investments in automation and training are helping developers address manpower challenges and streamline project timelines,” said Vimal Nadar, senior director at Colliers India.

With labour costs continuing to influence overall construction expenses, developers are exploring strategies to optimize operations and mitigate rising costs.

Concrete

Swiss Steel to Cut 800 Jobs

Job cuts due to weak demand

Published

4 days ago

November 18, 2024

admin

Swiss Steel has announced plans to cut 800 jobs as part of a restructuring effort, triggered by weak demand in the global steel market. The company, a major player in the European steel industry, cited an ongoing slowdown in demand as the primary reason behind the workforce reduction. These job cuts are expected to impact various departments across its operations, including production and administrative functions.

The steel industry has been facing significant challenges due to reduced demand from key sectors such as construction and automotive manufacturing. Additionally, the broader economic slowdown in Europe, coupled with rising energy costs, has further strained the profitability of steel producers like Swiss Steel. In response to these conditions, the company has decided to streamline its operations to ensure long-term sustainability.

Swiss Steel’s decision to cut jobs is part of a broader trend in the steel industry, where companies are adjusting to volatile market conditions. The move is aimed at reducing operational costs and improving efficiency, but it highlights the continuing pressures faced by the manufacturing sector amid uncertain global economic conditions.

The layoffs are expected to occur across Swiss Steel’s production facilities and corporate offices, as the company focuses on consolidating its workforce. Despite these cuts, Swiss Steel plans to continue its efforts to innovate and adapt to market demands, with an emphasis on high-value, specialty steel products.

Concrete

UltraTech Cement to raise Rs 3,000 crore via NCDs to boost financial flexibility

UltraTech reported a 36% year-on-year (YoY) decline in net profit, dropping to Rs 825 crore

Published

4 days ago

November 18, 2024

admin

UltraTech Cement, the Aditya Birla Group’s flagship company, has announced plans to raise up to Rs 3,000 crore through the private placement of non-convertible debentures (NCDs) in one or more tranches. The move aims to strengthen the company’s financial position amid increasing competition in the cement sector.

UltraTech’s finance committee has approved the issuance of rupee-denominated, unsecured, redeemable, and listed NCDs. The company has experienced strong stock performance, with its share price rising 22% over the past year, boosting its market capitalization to approximately Rs 3.1 lakh crore.

For Q2 FY2025, UltraTech reported a 36% year-on-year (YoY) decline in net profit, dropping to Rs 825 crore, below analyst expectations. Revenue for the quarter also fell 2% YoY to Rs 15,635 crore, and EBITDA margins contracted by 300 basis points. Despite this, the company saw a 3% increase in domestic sales volume, supported by lower energy costs.

In a strategic move, UltraTech invested Rs 3,954 crore for a 32.7% equity stake in India Cements, further solidifying its position in South India. UltraTech holds an 11% market share in the region, while competitor Adani holds 6%. UltraTech also secured $500 million through a sustainability-linked loan, underscoring its focus on sustainable growth driven by infrastructure and housing demand.