Ambuja Cements' Share Prices Rise

Riding on the dividend from ACC at Rs. 141 crore, the profit after tax during the quarter under review rose to Rs. 499 crore from Rs. 392 crore for the corresponding period of the previous year.

The cement major's net sales grew to Rs 2,927 crore from Rs. 2,817 crore earned during the quarter ended June 30, 2017.

Leading Cement Makers Penalised

NCLAT dismisses cement makers' plea against penalty for cartelisation.

In a major setback to India's leading cement producers, the National Company Law Appellate Tribunal today dismissed their plea against the approx. Rs 6,300 crores penalty imposed by India fair trade regulator over alleged cartelisation in the cement sector. The appellate tribunal also upheld that the penalty imposed by the Competition Commission of India (CCI).
The appellate tribunal observed that the fair trade regulator had imposed a minimum fine.

Some cement makers in consultation with their legal departments are likely to challenge the order before the Supreme Court.

Excellent ACC Results Bring Cheer to Industry

ACC Results for Quarter Ending June 2018

ACC profits went up marginally by 1.1 per cent, at Rs 328 crores from Rs 326 crores, in the same period last year. The cement company's revenue was lower by 1.3 per cent to Rs 3,768 crores from Rs 3,818 crores in the same quarter for the previous year, though  sales volume grew by 7 per cent. EBITDA was down by 1.9 % at Rs. 624.7 crores as against Rs. 636.4 crores in the same quarter last year.

The stock market gainers for these good results were ACC's market competitors, Orient Cement, India Cements, Ultratech Cement, Sagar Cement, and Ambuja Cements on the BSE.

With a good monsoon with us this year, the cement industry is looking forward to excellent sales and performance in the coming quarters.