UltraTech Cements

Shandong Binani Rongan Cement Co.

Indian cement major UltraTech Cement has announced it will be divesting its entire 92.5 percent stake in China's Shandong Binani Rongan Cement Co.

Shandong Binani Rongan Cement Co. Ltd, was founded as a joint venture between India's Binani Cement and Rizhao Rongan Construction Materials Co in 2007 with a 70:30 equity structure. It has a 2 million tonne per annum clinker and a 0.3 million tonne per annum cement capacity in the Shandong province of China.

The company came under the control of UltraTech after it acquired Binani Cement in November 2018 for Rs 7,950 crore.

Krishna Holdings Pte. Ltd,  incorporated in Singapore and a subsidiary of the Company's wholly-owned subsidiary UltraTech Nathdwara Cement Ltd. has an equity shareholding of 92.5 percent in Shandong Binani Rongan Cement Co. Ltd.

UltraTech has an overall capacity of 102.5 million tonne per annum of grey cement with 20 integrated plants, 1 clinkerisation plant, 26 grinding units and 7 bulk terminals.

JK Super Cement

J K Cements New Marketing Campaign

A salute to construction workers all over India who had worked tirelessly even during the Covid-19 pandemic with grit and determination.

The film tells the story of the journey of a construction worker and his son, whose dreams and desires are shaped by their surroundings. The message of having a strong will and steely determination vibrates throughout the film, and the bond between the father and the son is also shown beautifully.

Star Cements Q4 Results

Latest Star Cements Financial Highlights 

Star Cement’s Q4 results are out and they have posted quite good figures. Highlights are given below.

1. EBITDA/ton stood at Rs1,426.

2. Home markets for Star Cements, ie., the North-East (NE) markets contributed 74% of sales volumes vs. 75%/71% in Q4FY19/Q3FY20. 

3. Volume growth of 4.2% yoy led by higher volumes in the East and NE markets.

4. Realization growth of 5% qoq as cement prices improved in Q4.

5. May ’20 volumes were 90% of last year’s volumes and June ’20 volumes are almost same as the last year. 

Cement Industry Updates

Capex Updates

The already struggling Indian cement industry has been hit hard by the coronavirus crisis. Management statements on demand revival haven’t been very encouraging. So, many cement manufacturers have delayed their capital expenditure (capex) plans.

Ultratech Cements Ltd has projected a capex of ₹10 billion for fiscal year 2021 (FY21). This is lower than the ₹16 billion incurred in fiscal year 2020.

Shree Cements Ltd will decide on its large capex plan of doubling capacities in six years, only after demand conditions improve.

ACC Ltd is expanding its capacity by 18%, the management expects commissioning by 2022 only, a likely delay of 6-12 months due to Covid-19.

India Cements Ltd, JK Cements Ltd and Orient Cements Ltd, have also postponed their capex plans.