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Price hikes improve cement profitability outlook: CLSA

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Capital markets and investment group Credit Lyonnais Securities Asia (CLSA) Limited, told the media that the recent price hikes of the cement manufacturers aided the margin growth of the cement companies in FY22. Cement companies had a consecutive increase in prices in March, April, and May. The current prices of all the Indian blended cement are 5-7% above Q4 FY21.

According to CLSA, the cement sector’s profitability outlook has improved after the increase in prices. It has forecasted that the industry’s Ebitda per tonne will increase 3% year-on-year in FY22. CLSA expects that by FY24, the industry’s profitability will be around 85% for a greenfield project to break even. CLSA expects cement demand to grow 10% year-on-year in FY22 on a low base in FY21.

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Concrete

UltraTech Cement boosts capacity with new clinker line

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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.

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Concrete

Ambuja Cements gets a new CEO

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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

 

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Concrete

‘Sabse Khaas Pehelwan’ by Nuvoco

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Nuvoco Vistas Corp has introduced Nuvoco Duraguard Cement ‘Sabse Khaas Pehelwan’, a one-of-a-kind wrestling championship aimed at honouring and nurturing Haryana’s proud wrestling legacy. The initiative offers budding wrestlers an opportunity to compete at a professional level, gain visibility and represent their districts in a prestigious state-wide competition. ‘Seedhi Baat Hai, Duraguard Khaas Hai’ is aligned with Nuvoco’s brand philosophy.

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