India Cements Reports Improved Q3 Losses
Cement

India Cements Reports Improved Q3 Losses

Cement manufacturer The India Cements Ltd has reported a standalone net loss of Rs 813.9 million for the July-September 2023 quarter, a notable improvement from the Rs 1.37 billion loss in the same period the previous year. However, for the six months ending on September 30, 2023, the net loss increased to Rs 1.56 billion, compared to a net loss of Rs 614.9 billion in the corresponding period of the previous year.

Standalone total income also declined to Rs 1,2.28 billion for the quarter, down from Rs 12.58 billion in the same period the prior year. For the half-year ending September 30, 2023, the standalone total income stood at Rs 26.27 billion, compared to Rs 27.12 billion in the same period of the previous year.

Despite facing challenges due to a stressed working capital position, the company managed to achieve a slightly positive EBITDA during the quarter, with EBITDA totalling Rs 140 million, a marked improvement from the negative EBITDA of Rs 870 million in the second quarter of the previous year.

The company noted that the selling price of cement was under pressure due to supply saturation and market competition. In response, India Cements is actively working on disposing of non-core assets and exploring other avenues to raise funds for plant refurbishments, enhance efficiency, and address working capital requirements.

The company has also increased the proportion of blended cement in its operations, from 50 per cent in the previous year to 56 per cent in the first six months of the current year. Looking ahead, India Cements sees a positive outlook for cement demand, driven by increased home construction and infrastructure projects in preparation for upcoming elections.

Cement manufacturer The India Cements Ltd has reported a standalone net loss of Rs 813.9 million for the July-September 2023 quarter, a notable improvement from the Rs 1.37 billion loss in the same period the previous year. However, for the six months ending on September 30, 2023, the net loss increased to Rs 1.56 billion, compared to a net loss of Rs 614.9 billion in the corresponding period of the previous year. Standalone total income also declined to Rs 1,2.28 billion for the quarter, down from Rs 12.58 billion in the same period the prior year. For the half-year ending September 30, 2023, the standalone total income stood at Rs 26.27 billion, compared to Rs 27.12 billion in the same period of the previous year. Despite facing challenges due to a stressed working capital position, the company managed to achieve a slightly positive EBITDA during the quarter, with EBITDA totalling Rs 140 million, a marked improvement from the negative EBITDA of Rs 870 million in the second quarter of the previous year. The company noted that the selling price of cement was under pressure due to supply saturation and market competition. In response, India Cements is actively working on disposing of non-core assets and exploring other avenues to raise funds for plant refurbishments, enhance efficiency, and address working capital requirements. The company has also increased the proportion of blended cement in its operations, from 50 per cent in the previous year to 56 per cent in the first six months of the current year. Looking ahead, India Cements sees a positive outlook for cement demand, driven by increased home construction and infrastructure projects in preparation for upcoming elections.

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?