News from India – July shipments, Q1 results

In July, Ambuja Cements reported a 1.2% y/y decline in shipments to 1.42 million t. Production fell to 1.41 million t from 1.44 million t a year earlier. Fellow Holcim-owned company, ACC Ltd, reported production in July stood at 1.55 million t from 1.78 million t in the same period last year. Dispatches were likewise down, at 1.56 million t from 1.78 million t last year.

Meanwhile, Aditya Birla Group has reported a 7.94% y/y increase in cement shipments at 2.92 million t. Production rose 4.8% y/y to 2.89 million t. The Group owns UltraTech Cement, the largest cement company in India and soon to be the ninth largest in the world if the Star Cement acquisition goes ahead as planned.

India Cements has reported a massive decline in net profit for the quarter ended 30 June 2010, at Rs.24.98 crore against Rs.144 crore in the same period of last year. Clinker production, however, was up 3% in the quarter at 21.21 lakh tones. The company is aiming to improve its market share in the higher yielding regions of India by increasing its sales shares within those regions.

In other news, pirates have hijacked the 17 300 t cement carrier MV Suez in the Gulf of Aden. Reports indicate that a ransom will be paid to ensure the safety of the crew.

Read the article online at: https://www.worldcement.com/asia-pacific-rim/04082010/news_from_india%E2%80%93july_shipments_q1_results/