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Compared to this capacity addition, the report said, it is almost 75 per cent up from the corresponding three previous fiscals, when the industry had added 95 MT View More
Adani Cement and Finland-based Coolbrook have signed an agreement for the world’s first commercial use of Coolbrook’s RotoDynamic Heater™ (RDH™) technology at Adani’s Boyareddypalli Integrated Cement Plant in Andhra Pradesh. The project aims to decarbonise the energy-intensive calcination stage of cement manufacturing and aligns with Adani Cement’s target of achieving net-zero emissions by 2050, validated by the Science Based Targets initiative (SBTi). View More
Adani Cement and Coolbrook on Wednesday announced their delivery agreement for the world’s first commercial deployment of RotoDynamic Heater (RDH) technology to advance cement decarbonisation at the Boyareddypalli Integrated Cement Plant in Andhra Pradesh. This marks the first industrial-scale deployment of Coolbrook’s RDH technology, advancing Adani Cement’s net-zero goals achievement by 2050 (validated by the SBTi) and Coolbrook’s goal of cutting 2.4 billion tonnes of annual CO₂ across heavy industry sectors globally. This technology will decarbonise the calcination phase - the most fossil fuel-intensive stage of cement production, the company said in a press release. "By providing clean heat to dry and enhance the heating value of alternative fuels, the technology enables a significantly higher substitution of fossil fuels with sustainable alternatives. This deployment is expected to directly reduce approximately 60,000 tonnes of carbon emissions annually with a potential to increase 10x in due course, marking a major step toward decarbonising cement manufacturing." Critically, the RDH system will be powered entirely by Adani Cement’s large-scale renewable energy portfolio, ensuring that the industrial heat generated is completely emission-free. Going forward, RDH technology will play a "pivotal" role in decarbonising Adani Cement’s production, improve process efficiency, and accelerate the Company’s sustainability goals, including improving AFR (alternative fuels and resource materials) usage towards 30% and increasing the share of green power to 60% by FY28, the company stated. Live Events The first generation RDH will deliver hot gases at around 1000°C, which will facilitate drying of alternate fuels, making its utilisation greener and more efficient, representing a breakthrough in high temperature electrification for cement production. “The world’s first commercial deployment of Coolbrook’s RotoDynamic Heater within our operations marks a pivotal moment in our decarbonisation journey. This is a major leap towards achieving our net-zero goals. By integrating such cutting-edge electrification solutions into our cement production, we are accelerating the shift away from fossil fuels, reducing emissions at scale, enhancing the utilisation of clean energy sources, and setting a new standard for low-carbon cement manufacturing. This milestone underscores our legacy as pioneers and highlights our transformative actions towards becoming a global building materials solutions powerhouse. We are building a stronger ecosystem of partners like Coolbrook along with our R&D investments,” said Vinod Bahety, CEO - Cement Business, Adani Group. “Entering into the first industrial-scale project in the world with Adani Cement marks a transformative step for industrial electrification in one of the world’s most vital cement markets,” said Joonas Rauramo, CEO of Coolbrook. “Our mission is to make RotoDynamic Technology a new industry standard for decarbonising hard-to-abate sectors. Together, we’re redefining how cement is produced - cleaner, more efficient, and ready for a net-zero future.” .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Grasim Industries' net profit jumped 76 percent in the September quarter. This growth was fueled by its chemicals and building materials businesses. The company also announced the resignation of its Birla Opus Paints CEO. Consolidated revenue increased 17 percent. Grasim is also acquiring stakes in renewable energy projects. View More
Grasim Industries ’ consolidated net profit surged 76% year-on-year to Rs 533 crore in the September quarter helped by robust growth in its chemicals and building materials business. Consolidated revenue for the quarter rose 17% on year to Rs 39,900 crore. The flagship company of the Aditya Birla Group also announced that Rakshit Hargave , the chief executive officer of Birla Opus Paints has resigned, and that his last day in the company would be on December 5. Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) rose by 29% as compared to the previous year to Rs 5,217 crore mainly led by higher profitability in the cement and chemicals businesses. Consolidated EBITDA margin for the period stood at 13%, up from 12% a year ago. At a standalone level, the company’s revenue of Rs 9,610.34 crore for the quarter was the highest ever, having grown by 26% from the previous year. This was led by robust growth from new businesses, paints and B2B c-commerce coupled with stable core businesses, cellulosic fibres and chemicals, the company said in a statement. EBITDA at a standalone level rose 10% on year to Rs 1,786 crore, while EBITDA margins fell to 16% from 18% a year ago. Profit at a standalone level rose 12% on year to 805 crore. Live Events In its cellulosic fibres segment, the company’s revenue rose 1% on year to Rs 4,149 crore, while EBITDA slipped 29% on year to Rs 350 crore due to higher input prices. In its chemicals business, revenue rose 17% on year to Rs 2,399 crore, while EBITDA increased by 34% on year to Rs 365 crore. In its building materials business – which consists of cement, paints and B2B e-commerce, the company saw a 28% growth in revenue to Rs 22,253 crore. EBITDA jumped 55% on year anchored by a robust performance in UltraTech Cement, which was partially moderated by initial investments for ‘Birla Opus’ and ‘Birla Pivot’. Of its planned investment of around Rs 10,000 crore, Grasim Industries has spent a cumulative of Rs 9,727 crore on its paints business up to September. The company reported its earnings during market hours and its shares closed at Rs 2,880.70, down 0.8% from the previous close. CEO RESIGNATION Hargave will be leaving Grasim after nearly four years. Birla Opus was launched early in 2024, and Hargave played a pivotal role in the start-up stage and initial scaling of the business, including scaling distribution and supply chain networks. “These will form our strong foundation as the Company grows its Paint brand and business ahead,” Grasim said in a regulatory filing. Himanshu Kapania, the managing director of Grasim, will oversee the paints business in the interim. ACQUSITIONS Grasim also announced that it will be acquiring a 26% stake in three special vehicles (SPVs), which have been formed or will be formed for as a captive user for renewable energy projects. These include a SPV formed for its Vilayat plant in Gujarat, and an SPV for its Balabhadrapuram plant in Andhra Pradesh. Both of these SPVs have been formed with Prozeal Green Energy. The company has also formed another SPV with GMR Energy for its Ganjam plant in Odisha. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Ambuja Cements aims to cut its cost per tonne of cement by over 13% to ?3,650 by March 2028, while boosting production capacity to 155 million tonnes. The company also reported a significant surge in quarterly profit, driven by volume growth and operational improvements. View More
Ambuja Cements will aim to reduce its cost per tonne of cement by more than 13% from the current levels while increasing production capacity to 155 million tonnes by March 2028, its chief executive officer, Vinod Bahety, said. The capacity target is 11% higher than the company’s original target of 140 million tonnes. The cost per tonne for the second largest producer of cement in the country, meanwhile, will be brought down to ₹3,650 by FY28 from ₹4,200 now. “I am targeting to deliver a cost (per tonne) of ₹4,000 by March ‘26. Likewise, we aim for 5% reduction in FY27, and another 5% in FY28,” Bahety said on an analysts' call after the company’s quarterly earnings announcement on Monday. The company reaffirmed its annual growth estimate of 7-8%. “So, by the end of March ‘27, we are aiming to hit ₹3,800 a tonne, and by March 2028, it will be ₹3,650 per tonne,” he said. The company’s cost per tonne stood at ₹4,200 at the end of the September quarter, down by 5% year-on-year, primarily led by lower fuel costs. Live Events Ambuja Cements’ revised production capacity plan is 15 million tonnes higher than its original, and the company plans to achieve this through debottlenecking, at a cost of $48 per metric tonne. The company plans to increase capacity by 5.6 million tonnes in FY27 and 9.4 million tonnes in FY28 through debottlenecking. The company has a production capacity of 107 million tonnes, which it plans to increase to 118 million tonnes by March 2026. Ambuja Cements will also install blenders at 13 of its plants over a period of 12 months, which will optimise the product mix and increase the share of premium cement, which in turn will help improve realisations, the company said. JULY – SEPT EARNINGS Ambuja Cements said its quarterly consolidated revenue rose by 21% y-o-y to ₹9,174 crore, underpinned by a 20% y-o-y growth in volume to 16.6 million tonnes. Both revenue and sales volume were the highest for any September quarter. Consolidated profit for the quarter surged by nearly five times to ₹2,302 crore. A significant part of these gains came from the reversal of a tax provision of ₹1,697 crore, the company said. Apart from the exceptional gain, the company managed to improve its operational performance as well. Its operating earnings before interest tax, depreciation and amortisation rose to ₹1,761 crore from ₹1,111 crore a year ago, while EBITDA (earnings before interest, taxes, depreciation and amortisation) margins improved to 19.2% from 14.7%. The EBITDA made on each tonne of cement sold rose by nearly a third to ₹1,060 from ₹803 last year. “With GST reduction from 28% to 18%, improved economic sentiments, higher investments--both from public and private sectors, the demand is expected to see an uptick, and we reaffirm our annual growth estimate of 7-8%,” the company said in itsoutlook. Shares of the company rose 2.1% to ₹577.35 on the BSE at the close of trade. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
We zoom in on the prospects of Ceat, as also the prospects of three other stocks — Poly Medicure, Rico Auto Industries and Shree Cement View More