Cement firms in India increase cement costs as input prices inflate

Cement firms report strong volume growth amidst realisation challenges

Cement companies experienced robust double-digit volume growth in the previous quarter due to strong domestic demand, according to data from 42 firms. Despite this, limited improvement in realisations and higher-than-expected raw material costs resulted in a mixed performance. Net profit for the quarter improved by 5.8% year-on-year (y-o-y), but declined 12% sequentially. The year-on-year profit before interest and tax increased by 14.4%, while sequentially it declined by 7.5%. Realisations dropped by 1% sequentially on average, impacting operating performance despite the volume growth. Averag..

Cement firms hope for better demand

After a disappointing second quarter in which margins fell to multi-quarter lows, cement manufacturers will see some relief as cost pressures ease. Analysts believe that a recovery in cement demand and the continuation of price increases will be critical to earnings growth.

Prices for imported coal fell 19 per cent in the last month, according to analysts' data, after remaining elevated at $250-350 per tonne between March and October. Pet coke prices have risen slightly since mid-October, but analysts say they are still 29 per cent lower than first-quarter prices on average.

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Tata Steel exports 9,000 tonnes of LD slag to Bangladesh

On Friday, Tata Steel told the media that it shipped 9,000 tonnes of LD slag, a by-product of producing the metal, to Bangladesh, in the first such shipment from India to the neighbouring nation.

Shree Cement incurs Rs 6.62 billion profit for Q4; beats expectations

Shree Cement, India's third-largest cement manufacturer by market capitalisation announced a fourth-quarter profit that exceeded, attributing it to increased volumes driven by lower cement prices. Typically, cement companies witness a surge in volumes in the March quarter as they reduce prices to clear year-end inventory backlogs.

Analysts had anticipated that reduced fuel costs would partially offset the decline in prices. Shree Cement's profit for the quarter ending March 31 reached Rs 6.62 billion, surpassing street forecasts of Rs 6.20 billion, as per LSEG data. This marked a si..

Jaishankar Highlights Mumbai-Ahmedabad Bullet Train Benefits

india's vision of a modern and interconnected transportation network. Foreign Minister S Jaishankar has emphasised the significant benefits of the Mumbai-Ahmedabad bullet train project, citing its potential to revolutionise transportation and boost economic growth. Speaking on the project, Jaishankar highlighted its role in enhancing connectivity, fostering economic development, and strengthening bilateral ties with Japan.

The Mumbai-Ahmedabad bullet train project, a flagship infrastructure initiative between India and Japan, aims to reduce travel time between the two cities from hour..