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Ambuja Cements ranks 5th on Global Capital Hurun India Impact 50

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Ambuja Cements was ranked based on alignment with UNs’ 17 SDGs

Ambuja Cements Ltd, a member of the Holcim Group, has ranked 5th on the 2021 Capri Global Capital Hurun India Impact 50—a list of the top 50 companies headquartered in India.Ambuja Cements was ranked based on its alignment with the United Nations’ 17 Sustainable Development Goals (SDGs). This ranking functions as a recognition of the firm’s impactful work toward building a more sustainable future and forming higher standards in India’s cement sector.The award citation from 2021 Capri Global Capital Hurun India Impact 50 also underlined the efforts of Ambuja Cements in three major UN SDGs, namely Clean Water & Sanitation, Sustainable Cities, and Communities.Ambuja Cements has aligned with its parent Holcim’s Net Zero plan and sustainability plan. The firm has developed 2030 carbon emission reduction targets that have been validated by Science-Based Target Initiatives (SBTi), and it has collaborated with the Carbon Disclosure Project (CDP), India’s SBTi Incubator Program to execute a decarbonisation roadmap.Neeraj Akhoury, CEO of Holcim India and Managing Director & CEO, of Ambuja Cements, told the media that the mainstreaming of sustainability is the most important affirmative step taken by the global cement industry. The company’s sustainability plan and the roadmap to reaching Net Zero are closely aligned with Holcim’s commitment to becoming a net-zero carbon company by 2050 that will be calculated by clearly defined science-based targets.Ambuja Cements is also infusing in clean energy efforts like Waste Heat Recovery System to decrease clinker factor, energy efficiency (thermal & electrical) and usage of renewable energy from waste derived resources or alternative fuels, optimising fuel composition and rainwater harvesting.The firm has tied up with the Indian Institute of Technology (IIT) to create green products like limestone calcined clay cement, which will allow a further decrease in its carbon footprint. The firm was the first cement company globally to be designated to the CDP 2021 ‘A’ list for water security.Ambuja Cements has also been driving growth in usage of waste-derived resources like fly ash and slag in producing cement.

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Also read: Holcim Group to sell Ambuja Cement and ACC Ltd

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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