Indian cement company results for 4Q13

Gujarat Sidhee Cement

Gujarat Sidhee Cement saw net profit rise 10.6% in the quarter ended March 2014, reaching Rs.15.03 crore from Rs.13.59 crore in the same period of last year. Sales were also up, at Rs.131.46 crore from Rs.110.49 crore – almost a 19% increase. For the full year, the company reported a net loss of Rs.2.72 crore from a net profit of Rs.40.31 crore in the year ending March 2013, as sales declined 8.25% y/y.

Kakatiya Cement Sugar & Industries

Kakatiya Cement Sugar & Industries held a meeting for the Board of Directors last week, in which it recommended a dividend payment of Rs.2.70 per share to the equity shareholders of the company.

Gongotri Cement

Gangotri Cement reported a 362.5% rise in sales, reaching Rs.1.48 crore in the January – March quarter as against Rs.0.32 crore in the same period last year. Net profit declined more than 53% over the quarter, finishing at Rs.0.07 crore from Rs.0.15 crore. For the full year, however, net profit rose 300% to Rs.0.04 crore from Rs.0.04 in the 2012/2013 financial year. Sales for the full year fell 7.86% to Rs.2.11 crore from Rs.2.29 crore.

Concrete vs. asphalt

A study into the relative benefits of concrete vs. asphalt roads has been ordered in India over concerns that concrete roads are contributing to more accidents. The government acknowledges the financial and lifecycle benefits of concrete, but fears that there may be downsides since the majority of vehicles on the road are light vehicles that are poorly maintained. Asian Age quotes an unnamed official as saying, ‘Concrete cement roads are more suitable for sturdy and heavy vehicles. But India largely has smaller cars, with people prone to change tyres quite late. They are prone to accidents when speeding on concrete cement roads’.

Edited from various sources by Katherine Guenioui

Read the article online at: https://www.worldcement.com/asia-pacific-rim/02062014/indian_cement_companies_report_4q13_results_282/