Economy & Market

Cement production growth forecast downgraded

Published

8 years ago

January 15, 2017

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Cement producers will be hit by the country’s demonetisation programme and higher pet coke prices, according to ratings agency, India Ratings and Research (Ind-Ra).
According to Ind-Ra, cement production is likely to grow by 4 per cent in the 2017 fiscal (FY17). This is down from its earlier estimate of 4-6 per cent, as the real estate and construction sectors bear the brunt of the economic impacts of demonetisation, which saw the government ban higher denomination currency notes.
Lower cement output is expected to be focused in the November-December 2016 period, Ind-Ra said. Production growth was just 0.5 per cent in November, compared to 6.2 per cent in October and 4.3 per cent on average between April and November. Prices have also fallen between Rs 15 and Rs 20 per bag.
In addition to weaker demand, Indian cement producers are having to deal with a rise in the cost of pet coke to around $60-70 per tonne from $40 per tonne at the start of FY17. More costly pet coke – as well as higher diesel prices – increases input costs for cement production, while lower demand limits the ability of cement companies to pass on higher prices to their customers, squeezing margins.
This could place smaller-scale producers under stress in coming quarters, according to Ind-Ra, although the outlook for bigger cement producers is more stable.

Economy & Market

Celebrating Haryana’s Wrestling Heroes: Nuvoco Concludes 45-Day ‘Sabse Khaas Pehelwaan’ Campaign

Published

2 days ago

May 7, 2025

Roshna

Nuvoco Vistas Corp Ltd., India’s fifth-largest cement group by capacity, successfully concluded the grand finale of ‘Sabse Khaas Pehelwaan’, presented by Nuvoco Duraguard Cement, on May 2, 2025, at New Delhi’s iconic Talkatora Indoor Stadium. The wrestling championship, rooted in Haryana’s rich sporting culture, was a celebration of strength, resilience, and community pride—values that mirror the essence of Nuvoco’s Duraguard Cement brand.

The 45-day campaign attracted over 1,500 participants from all 22 districts of Haryana, culminating in a high-energy finale featuring the top contenders from district-level qualifiers. The competition included freestyle bouts across multiple weight classes for both men and women. The winners were awarded cash prizes of ₹1,00,000 for first place, ₹50,000 for second, and ₹25,000 each for the joint third-place finishers. Notably, champions such as Aakash Kumar (61 kg), Jaideep (74 kg), Anirudh (125 kg), Parveen (53 kg), Neha (62 kg), and Priya (76 kg) will also be featured as micro-market brand ambassadors, deepening Nuvoco’s local engagement.

Chirag Shah, Head of Marketing, Innovation and Sales Excellence at Nuvoco, said, “Sabse Khaas Pehelwaan brought our brand closer to the heart of Haryana by uniting sport, culture, and community. This platform not only showcased remarkable athleticism but reinforced Duraguard Cement’s brand values of strength and durability.”

Manish Kumar, Head of North Sales, added, “Haryana is a vital market for Nuvoco. Through this campaign, we’ve built authentic relationships and increased brand trust at the grassroots level. It has opened new avenues for engagement and sustainable growth.”

The event’s live broadcast, combined with vibrant community events and digital outreach, created a powerful blend of cultural celebration and brand building across one of India’s most dynamic regions.

Concrete

UltraTech Cement boosts capacity with new clinker line

Published

3 weeks ago

April 21, 2025

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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.

Concrete

Ambuja Cements gets a new CEO

Published

3 weeks ago

April 21, 2025

Roshna

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.

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