India Cements

Revenue rises 10%; company lines up Rs 1,600 cr plan to revamp old plants

The exceptional income item of Rs 294.28 crore is the profit on sale of investments made in Springway Mining Private Ltd

Market at close: The pain was even more severe in the broader market space where the BSE MidCap and SmallCap indices fell 3 and 4 per cent, respectively

Stocks to Watch Aban Holdings and Landmak Cars will be debuting on the stock exchanges on Friday. Both these stocks are likely to witness a tepid start to trade.

India Cements Ltd (ICL) on Thursday said fair trade regulator CCI has conducted a "search" at its office in Chennai. The Chennai-based company added that it has not committed any breach of CCI regulations. In response to a clarification sought by BSE over news reports of a raid by CCI at ICL, the company said in a filing: "Certain officials of CCI visited our office in Chennai at around 11:30 a.m. and are conducting 'search' to find out if any irregularities concerning 'Competition Commission' has occurred." However, it added that as it has not committed any breach of CCI regulations, "We do not apprehend any material impact on the Company." ICL has a total capacity of 15.5 million tonnes per annum. Its revenue for the financial year that ended on March 31, 2022 was Rs 4,713.11 crore. India Cements operates eight integrated cement plants in Tamil Nadu, Telangana, Andhra Pradesh and Rajasthan and two grinding units, one each in Tamil Nadu and Maharashtra.

Except Ambuja Cements, Ultratech Cement, Ramco Cements, and India Cements need to surpass crucial key levels to lead to a rally ahead

Revenue from operations up 7% YoY; firm had posted Rs 30 cr profit a year ago

India Cements Ltd on Monday reported a consolidated net loss of Rs 113.26 crore for the second quarter ended September 2022. The company had posted a net profit of Rs 29.75 crore during the July-September quarter of the previous fiscal, India Cements said in a regulatory filing. Its revenue from operations was up 7.46 per cent to Rs 1,327.06 crore in the second quarter of this fiscal. The same stood at Rs 1,234.85 crore a year ago. The company's total expenses were at Rs 1,528.01 crore, up 27.16 per cent in the September quarter of FY23, as against Rs 1,201.61 crore a year ago. Shares of India Cements were trading at Rs 248.50 on BSE, up 1.02 per cent from the previous close.

ICL's challenges come at a time when the cement industry in India is under pressure owing to a sharp rise in raw material prices leading to a lower capacity utilisation of around 64%

The combined cement capacity of these units will be 5 million tonnes per annum

India Cements has sold its Madhya Pradesh limestone mine, and land to Sajjan Jindal-owned JSW Cement for Rs 477 crore

India Cements had indicated in its FY22 annual report that it had acquired 184.53 hectares of limestone-bearing land at Pawai Tehsil in Panna District of Madhya Pradesh.

The Centre and southern states were expected to retain their thrust in giving a push to housing and infrastructure projects leading to cement demand to remain on track, The India Cements Ltd Vice-Chairman and Managing Director N Srinivasan said on Thursday. Increased house building and construction activity in metros, semi-urban and urban centres would boost cement demand although cost pressure is expected to remain with higher cost of fuel, power tariff, he said. "As in the last two years, the good rainfall reported this year from South -West monsoon season augurs well for improved prospects of rural economy," he told the shareholders at the 76th annual general body meeting held through virtual mode. During 2021-22, he said a revival was witnessed in the construction sector which led to the cement demand picking up and it sustained due to increased infrastructure spending by the Centre and States. The industry suffered from steep increase in the cost of production due to ...

The higher demand will mitigate the impact of lower profitability on absolute operating profits and cash accruals of cement makers, cushioning their credit profiles, Crisil Research said

Despite of Wednesday's fall, most of the cement stocks have outperformed markets in the past one month, on consolidation hopes in the cement industry.

CSK or Dhoni, if masons ask for cement by either 'brand', India Cements has clearly won the game

According to the technical analyst from Anand Rathi, India Cements can be bought closer to Rs 155 and 3M India should be bought near Rs 21,800.

Reliance Industries' chart seems to predict 14% upside

Coal prices also increased from $60 per tonne to $300 per tonne during the last one year adding to the pressure on the company

Swiss cement major's India units facing cement cartelisation probe