Dalmia Cement results
India’s Dalmia Bharat Limited has reported total income of Rs.1439 crore for the July – September 2015 quarter, up from Rs.722 crore in the same period of the previous year. The increase is attributed to improved sales volumes and realisations. EBITDA was up 55% on a per tonne basis, while the total cost per tonne reduced 10% to Rs.3614. Variable costs for the quarter reduced 14% y/y, while power and fuel costs dropped 36% y/y to Rs.726 per tonne. The company has increased petcoke consumption to 71% from 64% in the previous quarter.
The company reports that the pickup in cement demand has been delayed, but should be realised once key policy decisions are made.
JSW Group plans Rs.4000 crore investment
According to reports, JSW Group is planning to invest Rs.4000 crore in expanding its port and cement capacity over the next two years. Group CFO Seshagiri Rao reportedly told Bloomberg that ports and inland waters are an attractive investment, as they have not yet been leveraged in India. The company is said to plan to almost double its cargo-handling capacity at its ports to 62 million t, and increase it further to 200 million t by 2025. Meanwhile, the group’s 6 million t of cement capacity is reportedly set to rise to 17 million t over the next two years as the company invests in greenfield plants.
Reliance bows out of cement business
Reliance Infra has announced that its future focus will be on the defence sector and that it will be selling its 5.6 million tpy cement business and related assets. The company has shortlisted seven potential buyers from a total of 15 interested parties.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/indian-subcontinent/06112015/investments-divestments-and-financial-news-from-india-925/