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Centenary of Success

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As an industrial engineering Group with a heritage of over 200 years, Fives designs and supplies machines, process equipment and production lines for the largest industrial players in various sectors such as cement, energy, aluminum, steel, glass, aerospace and logistics. ICR had an opportunity to have a conversation with Daniel Julien , CEO of Fives Pillard, one of Fives??subsidiaries in combustion.

Can you tell us more about Fives Pillard?? history? Its development and more particularly in the cement industry?

Fives Pillard was founded in 1920 by the brothers Andr? and Marcel Pillard and started manufacturing coal burners for steam locomotives. A few years later, in 1957, the company entered the international market by opening its subsidiary Fives Pillard Deutschland. Spain and China followed, and more recently, India in 2012, through our subsidiary Fives Combustion Systems. It is now a major player in the Indian market.

In 2018, we launched a new R&D centre in Piacenza, northern Italy. Fives European Combustion Center is a state-of-the-art facility and where the majority of our products development takes place.

Regarding the cement market, we started offering kiln burners in the 1950s. During that period, oil was used as a fuel to run the kilns and it led to the development of the MY atomizing. It is still the reference point regarding oil application in this industry.

Thirty years later, we developed one of the best performers aiming to reduce NOx emissions from the kiln: the Pillard ROTAFLAM?. This burner has been a market leader for 20 years with numerous success stories for cement as well mineral players.

Following this success, we launched the Pillard NOVAFLAM? in 2009. Specifically designed for the cement market to maximise clinker quality, to enable high alternative fuel substitution rates and limit emissions levels, it has sold over 600 units worldwide so far.

Despite the difficulties of this year, it seems that you have some achievements to celebrate.

Indeed, in 2020, not only are we celebrating Fives Pillard 100th anniversary, but marking this milestone with the launch of the avant-garde Pillard NOVAFLAM? Evolution for the cement industry. This achievement is another proof of our dedication to our customers, offering them the best products available.


The new Pillard NOVAFLAM? Evolution burner

We work closely with our customers, taking into account their priorities and requirements to design our products and services that fulfill their expectations. This new product, which encompasses multiple breakthrough innovations, will offer its users numerous benefits: low emissions, best clinker quality, enhanced adaptability to kiln conditions, and unrivalled ease of adjustment to name a few.

We are committed to deliver products that combine quality and durability as our success comes from customers satisfaction. The cement industry is a small world and you need to earn the trust of your customers and partners alike. We are proud to have customers that are still using Fives Pillard?? burners that are 50 years old! We deliver on what we promise.

As mentioned above, it is essential for us as a business, but also as people, to stay close to our customers. Thanks to our and the group Fives international network, we always manage to get feedback from our customers and keep on improving our products and processes.

You also mentioned the importance of R&D.

Yes! Knowing customer needs and priorities is one thing but to turn feedback into a product you need to have a strong R&D team that supports your innovations. A centre like the one we have in Piacenza, with a team of experts and Engineers ready to find new ways to optimise products and increase customers benefits is essential to stay ahead in the market. Not just in cement, but across all the industries that Fives Pillard serves. Our company Fives Pillard has shown the way forward in many aspects and has often been copied by competitors as a result. We hope to do the same thing regarding new services and products that are more environmentally friendly.

Can you tell us more about these environmentally friendly solutions?

People across the globe feel more concerned about climate change and are looking at ways to be more respectful of the environment. We can see that shift in combustion as well and the different industries we provide products for. The cement industry has the responsibility to improve their environmental footprint and drastically reduce CO2 and other pollutant emissions. Fives Pillard with its subsidiaries, including Fives Combustion Systems, will be at their side to achieve these challenges.

Fives Pillard and its teams worldwide are very much committed to take part in the fight against climate change by using the latest burner technology, providing an optimised combustion efficiency, limited NOx emissions, and a better clinker quality with improved grindability properties. Indeed, all these innovations, including sustainable engineering, are what make the Pillard NOVAFLAM? Evolution an avant-garde burner. Helping our customers to maximise their profitability while reducing their environmental footprint, the new Pillard NOVAFLAM? Evolution has also received the EU Ecolabel.

So what does the future look like for Fives Pillard?

As mentioned, part of our focus is on the development of products and services that meet our customers needs including the reduction of their pollutant emissions and carbon footprint. We are working on new fuel possibilities (hydrogen, syngas from biomass), oxygen combustion, for example.

We will also continue to innovate on our services offering and more particularly on our SMART technology package, which monitors the performance of our burners, and provides assistance regarding adjustments and preventive maintenance so as to ensure that optimal efficiency is maintained throughout the burner lifetime and customers remain satisfied

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Concrete

Shree Digvijay Cement Reports Annual And Quarterly Results

Annual revenue rises as EBITDA expands sequentially

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Shree Digvijay Cement Company Limited reported consolidated financial results for the quarter and year ended 31 March 2026, showing higher revenues and improved profitability. Revenue from operations for the quarter was Rs 2,084.7 mn, up from Rs 1,833.4 mn in the prior quarter, while revenue for the year was Rs 7,491.0 mn versus Rs 7,251.5 mn a year earlier. EBITDA for the quarter rose to Rs 251.0 mn from Rs 38.4 mn in the preceding quarter and reached Rs 746.1 mn for the year. Profit after tax for the year was Rs 250.0 mn.

Sales volume for the company s grinding and cement operations was zero point three six four mn t in the quarter and one point four zero three mn t for the year, while traded volumes were zero point zero three mn t in the quarter. EBITDA per tonne improved to Rs637 in the quarter and averaged Rs521 for the year. Under a brand usage, supply and distributorship agreement the company sold 29,928 t of Hi Bond cement, which generated Rs153.6 mn in revenue and Rs20.0 mn in EBITDA during the period.

The company said that it had commenced purchase and distribution of Hi Bond cement effective 19 March 2026 pursuant to the long term distributorship agreement, and that it had paid a refundable security deposit of Rs four bn under the same arrangement. Management indicated that the strategic integration with the Hi Bond network would support future growth and strengthen distribution capabilities. The board cited seasonally higher demand and improved pricing as factors behind the sequential improvement in realisations.

The board recommended a final dividend of Rs one per equity share subject to shareholder approval at the ensuing annual general meeting. The company reiterated focus on sustaining the positive momentum in revenue and margin metrics while integrating the new distributorship, and will continue to monitor market conditions and pricing trends to support further improvement in outcomes.

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Concrete

Cement Production Up Eight Point Six Per Cent To 491.4 mn t In FY26

Icra Sees Seven To Eight Per Cent Growth In FY27

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Icra reported that cement production volumes rose by eight point six per cent in the financial year 2026 to 491.4 million (mn) metric tonne (t). March output was 48.4 mn t, up four per cent year on year on a high base.

The agency projected that volumes are expected to grow by seven to eight per cent in the current financial year, supported by sustained demand from the housing and infrastructure sectors. Average cement prices were reported to have remained flat in March at Rs 340 per bag on a month on month basis, while prices for FY26 increased by two per cent to Rs 345 per bag year on year.

Among inputs, coal prices declined by 17 per cent year on year to USD 102 per t in April 2026 while petcoke prices rose sharply by 19 per cent month on month and 22 per cent year on year to around Rs 15,800 per t in April. Petcoke was higher by about five per cent year on year in FY26 and diesel prices were reported to have remained steady. Icra noted that coal, petcoke and diesel are expected to trend higher in FY27 and remain exposed to risks from the ongoing West Asia conflict.

The report emphasised that operating margins for Icra’s sample set of companies are estimated to moderate by 200 to 400 basis points (bps) in FY27 on account of a likely increase in input costs, with further downside risks should crude prices rise owing to geopolitical tensions. However, debt protection metrics are projected to remain comfortable and Icra maintained a stable outlook on the Indian cement sector.

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Concrete

UltraTech Cement FY26 PAT Crosses Rs 80 bn

Company reports record sales, profit and 200 MTPA capacity milestone

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UltraTech Cement reported record financial performance for Q4 and FY26, supported by strong volumes, higher profitability and improved cost efficiency. Consolidated net sales for Q4 FY26 rose 12 per cent year-on-year to Rs 254.67 billion, while PBIDT increased 20 per cent to Rs 56.88 billion. PAT, excluding exceptional items, grew 21 per cent to Rs 30.11 billion.

For FY26, consolidated net sales stood at Rs 873.84 billion, up 17 per cent from Rs 749.36 billion in FY25. PBIDT rose 32 per cent to Rs 175.98 billion, while PAT increased 36 per cent to Rs 83.05 billion, crossing the Rs 80 billion mark for the first time.

India grey cement volumes reached 42.41 million tonnes in Q4 FY26, up 9.3 per cent year-on-year, with capacity utilisation at 89 per cent. Full-year India grey cement volumes stood at 145 million tonnes. Energy costs declined 3 per cent, aided by a higher green power mix of 43 per cent in Q4.

The company’s domestic grey cement capacity has crossed 200 MTPA, reaching 200.1 MTPA, while global capacity stands at 205.5 MTPA. UltraTech also recommended a special dividend of Rs 2.40 billion per share value basis equivalent to Rs 240.

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