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Showing posts with label Cement Industry News. Show all posts
Showing posts with label Cement Industry News. Show all posts

HeidelbergCement India - Lackluster Q1 performance due to covid lockdown restrictions

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HeidelbergCement India Ltd on Wednesday reported a 38.07 per cent decline in net profit at ₹ 48.94 crore for the first quarter ended June 2020.
The company had reported a net profit of ₹ 79.03 crore in the April-June 2020 period of the preceding fiscal, HeidelbergCement India said in a BSE filing.
Total revenue from operations declined 30.80 per cent to ₹ 407.70 crore from ₹ 589.23 crore in the corresponding quarter of 2019-20.

The company said its sales volume declined due to suspension of operations during covid lockdown period. "Volume decreased by 32 per cent, primarily driven by the suspension of operations in April 2020. The decrease in volume impacted revenue and profitability during the quarter," said HeidelbergCement India, a subsidiary of HeidelbergCement Group.
Cement sales volume during the quarter was 857 KT as against 1,258 KT earlier. Total expenses were at Rs 342.99 crore as against Rs 479.25 crore in Q1 FY20, down 28.43 per cent.
In an interview to ET Jamshed Naval Cooper, MD of HeidelbergCement India Ltd said, capacity utilization will be hovering between 55% and 60%. Today many of the cement companies will have a very high breakeven.
You cannot keep a cement processing plant shut continuously. We made a big mistake of having a lockdown in the cement plant, he said. However, he is hopeful that after Diwali (which falls in November this year), most migrant labourers will return and capacity utilisation of cement plants should touch 70%.

South African cement industry worst affected due to corona virus lockdown restrictions

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Cement Plant
PPC head of inland business Bheki Mthembu, says the lack of large-scale construction projects in his country has left South African cement industry heavily dependent on residential construction. “Demand is less than the supply. Most of our cement goes to retailers and then local builders, but we still cater to larger companies when bulk deals are required. The lack of large-scale construction projects has left the industry heavily dependent on residential construction. Government needs to support us through infrastructure maintenance and other projects. We were already in survival mode; Covid-19 has almost been the final nail in the coffin,” said Mr. Bheki Mthembu.

South African cement industry at present are working at roughly 50% of the capacity utilisation level in June 2020 compared to that in June 2019 following the restart of production due to the relaxing of the corona virus lockdown to Level 3 from Level 4 on 1 June 2020. The construction sectors reduced by more than half since the 2010 FIFA World Cup when it supported 250,000 jobs. While the Level 5 government lockdown restrictions brought industry to a standstill in March, cement production restarted in May under Level 4.
However, construction was still prohibited and local stores had shortages of cement when they were allowed to open with restrictions being reduced to level 3 in June. The price of cement also has gone high sharply from ZAR80 (US$4.77) to ZAR120-150 (US$7.16-8.96) in June as cement producers have been facing tough situations in sourcing raw materials to produce cement.

 (Source: - edited)

OCL India Commissions 2 MTPA Capacity Cement Plant in West Bengal

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The marvellous journey of OCL India started when a great industrialist with far-sighted vision Jaidayalji Dalmia, set up a cement plant at Rajgangpur during 1950 - 51 at the request of government of Odisha to manufacture super grade cement for use in the construction of Hirakud dam. The origin of OCL India Limited (formerly Orissa Cement Limited) was seeded in the time that signalled India's independence. 

Today, OCL India Ltd, the flagship associate company of Dalmia Cement Bharat Ltd and also a major cement manufacturing organization, announced the commissioning of its third and 2 MTPA (million tonne per annum) capacity, ₹ 615 crore cement plant in West Midnapore of West Bengal.

Built on 154.43 acres, the grinding and mixing unit was formally started at an event attended by the Chief Minister of West Bengal, Ms. Mamata Banerjee, according to a company release. The unit is located at the West Bengal Industrial Development Corporation established Godapiasal Industrial Park, 81 km west of Kolkata.

This is the first unit of OCL India in West Bengal. The other two cement plants of the company are at Cuttack and Rajgangpur in Odisha with a combined production capacity of 5.35 MTPA.
OCL India has already a good share of cement market in West Bengal. 'Konark' Brand cement of OCL India has been extensively used in the construction of the prestigious Hirakud Dam in Odisha and in building some of India's largest roads, bridges and Industrial plants, construction of port facilities, restoration repairs by Archeological Survey of India in Lord Jagannath Temple at Puri, and construction and modernization of steel plants.

The current Market Capitalisation of OCL India stands at ₹ 1,552.81 crore. OCL India has reported a standalone Sales of ₹ 536.40 crore and a Net Profit of ₹ 41.64 crore for the quarter ended Mar 2014.