Connect with us

Concrete

Dalmia Cement to infuse Rs 200-300 cr in Belagavi plant in 2 years

Published

on

Shares

Dalmia Cement to invest in Belagavi plant to boost cement production

Dalmia Cement Bharat Limited told the media that it would invest Rs 200-300 crore in its Belagavi plant over the next two years in a bid to increase cement production.The action will create about 1000 jobs and support Dalmia Cement in promoting its national production capacity to 48.5 million tonnes (mt) by 2024 and then to 100 mt by 2031, from 36.9 mt presently.Dalmia will also spend some of the promised amounts to establish a solar power capacity of about 9 megawatts.In 2015, Dalmia Bharat had forayed into Karnataka via its Rs 1,500 crore greenfield facility. It has already generated nearly 3,000 direct and indirect jobs across Karnataka.Dalmia Cement Ltd is one of pioneering homegrown cement companies of India. Headquartered in New Delhi, the firm functions as Dalmia Cement (Bharat) Ltd, which is a 100% subsidiary of Dalmia Bharat Ltd, and is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).Dalmia Cement operates a manufacturing capacity of 35.9 million tonnes per annum (mtpa) across 14 cement plants and grinding units, which are spread over 10 states.

Image Source


Also read: Dalmia Cement increases solar power plant capacity to 17.1 MW

Concrete

NCLT approves Burnpur Cement’s capital reduction scheme

The move aims to optimise the capital structure of the company.

Published

on

By

Shares



The National Company Law Tribunal (NCLT), Kolkata, has approved Burnpur Cement Limited’s scheme for the reduction of capital, as outlined in an exchange filing by the company. The petition was filed under Section 66 of the Companies Act, 2013, in accordance with the National Company Law Tribunal (Procedure for Reduction of Share Capital of Companies) Rules, 2016.

The approved scheme involves reducing the company’s issued, subscribed, and paid-up equity share capital from Rs 86.12 crore, divided into 8,61,24,363 equity shares of Rs 10 each, to Rs 17.22 crore, divided into 1,72,24,873 equity shares of Rs 10 each, fully paid-up. The move aims to optimise the capital structure of the company.

The NCLT order specifies that the capital reduction will not affect any ongoing actions by government or regulatory authorities related to violations of any laws in force. Burnpur Cement is expected to file the certified copy of the order with the Registrar of Companies (RoC) in e-form INC-28.

The bench hearing the matter included D. Arvind (Technical Member) and Bidisha Banerjee (Judicial Member).

Continue Reading

Concrete

Cement manufacturers report margin decline in September quarter amid lower prices

The all-India average cement price saw a year-on-year decline of 11%

Published

on

By

Shares



Cement manufacturers have reported a decline in margins during the September quarter, primarily due to lower prices, which led to reduced sales realization. Smaller companies such as Nuvoco Vistas Corp, JK Cement, Birla Corporation, and Heidelberg Cement experienced a drop in both topline and sales volume. However, leading players like UltraTech Cement, Ambuja Cement, and Dalmia Bharat performed better, primarily due to several recent acquisitions that have bolstered their market position.

The industry faced challenges, including an extended monsoon, floods, and slow government demand, all of which contributed to weak market conditions. Despite these challenges, power, fuel, and other operational costs remained stable.

In terms of pricing, the all-India average cement price saw a year-on-year decline of 11% from ₹348 per 50 kg bag in June 2024 to ₹330 per bag in September, although it rose by 2% month-on-month. In FY25, the average cement price saw a 10% year-on-year reduction, down from ₹365 per bag in FY24.

UltraTech Cement reported a 68% capacity utilization and a 3% growth in sales volume, despite an 8.4% year-on-year decline in sales realization for grey cement. Similarly, Ambuja Cements saw a 9% increase in sales volume, reaching 14.2 million tonnes, but its EBITDA was 15% lower year-on-year at ₹1,074 crore due to lower price realizations.

Continue Reading

Concrete

JK Lakshmi Cement Posts Loss

JK Lakshmi Cement records ?19.24 crore loss.

Published

on

By

Shares



JK Lakshmi Cement reported a net loss of ?19.24 crore for the second quarter of FY25, reversing the previous year’s profits. The cement giant faced a challenging period, with rising input costs and subdued demand in certain markets impacting its financial performance. The company also noted a decline in sales volumes during the quarter, which further contributed to the loss.

Despite the tough quarter, the company remains optimistic about its long-term prospects, citing the ongoing demand for infrastructure development and the potential for recovery in key regions. The management is focusing on cost optimization strategies and exploring new markets to overcome the current challenges.

The net loss marks a significant deviation from the company’s usual profit trajectory, raising questions about the impact of macroeconomic factors and inflationary pressures on the cement sector as a whole. With raw material costs and transportation expenses climbing, the company is grappling with maintaining margins while trying to sustain its market position.

JK Lakshmi Cement’s management is working to boost operational efficiency and improve financial health in the coming quarters. Analysts are keenly observing whether the company will rebound in the second half of the fiscal year, as infrastructure projects and government spending are expected to provide support to the industry.

Continue Reading

Trending News

SUBSCRIBE TO THE NEWSLETTER

 

Don't miss out on valuable insights and opportunities to connect with like minded professionals.

 


    This will close in 0 seconds