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JSW Cement Subsidiaries Achieves Milestones

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Setting the Stage for Rapid Growth

In a significant stride towards cementing its position as a leading player in the industry, JSW Cement, a subsidiary of JSW Group, has achieved several milestones that underscore its commitment to innovation, sustainability, and expansion. The recent announcement by Parth Jindal, Managing Director of JSW Cement, through his Twitter account has brought to light the company’s remarkable achievements and its strategic roadmap for the future.

Parth Jindal, Managing Director of JSW Cement, shared these exciting developments on his official Twitter account:

1. WHRS Commissioning at Shiva Cement: A Step towards Sustainability
Shiva Cement, a subsidiary of JSW Cement, has achieved a notable milestone with the successful commissioning of its waste heat recovery systems. These systems not only enhance operational efficiency but also contribute significantly to the reduction of carbon emissions. The utilization of waste heat to generate energy aligns with the company’s commitment to sustainability and minimizing its environmental footprint.

2. Record Clinker Production by Shiva Cement
In a noteworthy development, Shiva Cement is set to achieve its highest-ever clinker production this month. This accomplishment is a testament to the company’s dedication to optimizing production processes and increasing capacity. The increase in clinker production signifies not only enhanced operational efficiency but also the capability to meet growing market demand.

3. JSW Dolvi Expansion Success: Boosting Overall Capacity
JSW Dolvi, another subsidiary of JSW Cement, has successfully completed its expansion, increasing its capacity to 4.5 million tonnes per annum (MTPA). This expansion contributes to JSW Cement’s overall capacity, which now stands at an impressive 19 MTPA. The expansion of JSW Dolvi demonstrates the company’s strategic approach to cater to the growing infrastructure and construction needs of the nation.

4. Ongoing Projects: Fueling Future Growth
JSW Cement’s expansion plans are not limited to the present achievements. The company is actively engaged in further expansion projects that will significantly boost its production capacity. Work is progressing at a rapid pace at the grinding unit in Vijayanagar and the new clinker line in the UAE. These projects, scheduled to be completed by December 2023, are poised to elevate JSW Cement’s capacity to an impressive 21 MTPA.

5. Ambitious Vision: Aiming for 60 MTPA in Five Years
JSW Cement’s remarkable achievements and strategic expansions reflect its ambitious vision for the future. The company aims to become India’s greenest cement company while positioning itself as a major player on the global stage. With the ongoing projects and their successful completion, JSW Cement is on track to achieve a capacity of 21 MTPA, and its ambitious goal is to further increase this capacity to a staggering 60 MTPA within the next five years.

Conclusion
The successful commissioning of WHRS, the record clinker production at Shiva Cement, the expansion of JSW Dolvi, and the ongoing projects all contribute to the company’s overarching vision.

Concrete

Lower sales realization impacts margins for cement makers in Q2 FY25

The industry encountered several challenges, including an extended monsoon season.

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Major cement manufacturers reported a decline in margins for the September quarter, primarily due to lower prices, which led to decreased sales realization.

With the exception of three leading cement producers—UltraTech Cement, Ambuja Cement, and Dalmia Bharat—smaller companies, including Nuvoco Vistas Corp, JK Cement, Birla Corporation, and Heidelberg Cement, experienced a drop in both topline and sales volume during the second quarter of the current fiscal year.

The industry encountered several challenges, including an extended monsoon season, flooding, and a slow recovery in government demand, all contributing to weak overall demand.

Despite these challenges, power, fuel, and other costs largely remained stable across the industry. The all-India average cement price was approximately Rs 348 per 50 kg bag in June 2024, which represented an 11 per cent year-on-year decrease to Rs 330 per bag in September, although it saw a month-on-month increase of 2 per cent.

In the first half of FY25, cement prices declined by 10 per cent year-on-year, settling at Rs 330 per bag. This decline was notable compared to the previous year’s average prices of Rs 365 per bag and Rs 375 per bag in FY23, as reported by Icra.

Leading cement manufacturer UltraTech reported a capacity utilization rate of 68 per cent, with a 3 per cent growth in volume. However, its sales realization for grey cement declined by 8.4 per cent year-on-year and 2.9 per cent quarter-on-quarter during the July-September period.

In response to a query regarding cement prices during the earnings call, UltraTech’s CFO Atul Daga indicated that there had been an improvement in prices from August to September and noted that prices remained steady from September to October. He mentioned that the prices had risen from Rs 347 in August to approximately Rs 354 currently.

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Concrete

Steel companies face Rs 89,000 crore inventory crisis

Steel firms grapple with Rs 89,000 crore stockpile amid import surge.

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Steel companies in India are facing a significant challenge as they contend with an inventory crisis valued at approximately Rs 89,000 crore. This situation has arisen due to a notable increase in steel imports, which has put pressure on domestic producers struggling to maintain sales in a competitive market.

The surge in imports has been fueled by various factors, including fluctuations in global steel prices and increased production capacities in exporting countries. As a result, domestic steel manufacturers have found it difficult to compete, leading to rising stock levels of unsold products. This inventory buildup has forced several companies to reassess their production strategies and pricing models.

The financial impact of this inventory crisis is profound, affecting cash flows and profitability for many steel firms. With domestic demand remaining volatile, the pressure to reduce prices has increased, further complicating the situation for manufacturers who are already grappling with elevated production costs.

Industry experts are urging policymakers to consider measures that can support local steel producers, such as imposing tariffs on imports or enhancing trade regulations. This would help to protect the domestic market and ensure that Indian steel companies can compete more effectively.

As the steel sector navigates these challenges, stakeholders are closely monitoring the situation, hoping for a turnaround that can stabilize the market and restore confidence among investors. The current dynamics emphasize the need for a robust strategy to bolster domestic production and mitigate the risks associated with excessive imports.

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Concrete

JSW and POSCO collaborate for steel plant

JSW Group and POSCO ink MoU for steel project.

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JSW Group has signed a Memorandum of Understanding (MoU) with South Korea’s POSCO Group to develop an integrated steel plant in India. This collaboration aims to enhance India’s steel production capacity and contribute to the country’s growing manufacturing sector.

The agreement was formalized during a recent meeting between executives from both companies, highlighting their commitment to sustainable development and technological innovation in the steel industry. The planned facility will incorporate advanced manufacturing processes and adhere to environmentally friendly practices, aligning with global standards for sustainability.

JSW Group, a leader in the Indian steel industry, has expressed confidence that the joint venture with POSCO will bolster its position in the market and accelerate growth. The project is expected to attract significant investments, generating thousands of jobs in the region and contributing to local economies.

As India aims to boost its steel output to meet domestic demand and support infrastructure projects, this partnership signifies a crucial step toward achieving those goals. Both companies are committed to leveraging their expertise to develop a state-of-the-art facility that will produce high-quality steel products while minimizing environmental impact.

This initiative also reflects the increasing collaboration between Indian and international firms to enhance industrial capabilities and foster economic growth. The MoU sets the stage for a promising future in the Indian steel sector, emphasizing innovation and sustainability as key drivers of success.

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