Latest news with #IndiaCementsLimited
India.com
3 days ago
- Business
- India.com
India Cements Slips Into Rs 133 Crore Loss In Q1, Revenue Flat
New Delhi: India Cements Limited, a subsidiary of UltraTech cement, on Saturday slipped into losses in the first quarter of the financial year (Q1 FY26), reporting a net consolidated loss of Rs 132.90 crore. The Aditya Birla Group-owned cement company had posted a net consolidated profit of Rs 58.47 crore in the corresponding quarter a year ago (Q1 FY25). In the last quarter (Q1 FY25), the company's profit stood at Rs 14.68 crore, as per its exchange filing. Meanwhile, its revenue from operation remained flat at Rs 1,024.74 crore (year-on-year) from Rs 1,026.76 crore in the same period a year earlier. However, the revenue declined 14 per cent sequentially from Rs 1,197.30 crore in the preceding quarter. The company's expenses for the quarter under review stood at Rs 1,042.19 crore, falling slightly as compared to Rs 1,190.24 crore in Q1 FY25, according to the filing. However, the expenses were higher than the total revenue (revenue from operation + other income) of Rs 1,033.85 crore, dragging cement manufacturing firm in the losses. Profit after tax (PAT) before one-time exceptional items was a negative Rs 9.13 crore compared to negative Rs 182.21 crore over the same period last year, according to the filing. UltraTech acquired the promoter's stake in the south India-based cement maker. It later became a subsidiary of UltraTech Cement, with effect from December 24, 2024. "The Company is planning a capital expenditure programme over the next 2 years for improving efficiency and reducing operating costs; increasing share of renewable power and improving safety standards," it said in the filing. On the future outlook, the cement manufacturer said that India Cements is poised to grow stronger. In last quarter, India Cements reported a 3.11 per cent annual fall in its revenue to Rs 1,197.3 crore.
Business Upturn
03-07-2025
- Business
- Business Upturn
India Cements announces sale of equity stake in Indonesian associate company
By Aditya Bhagchandani Published on July 3, 2025, 22:34 IST The India Cements Limited, a subsidiary of UltraTech Cement Limited, announced on July 3, 2025, that its wholly owned subsidiary PT Adcoal Energindo, Indonesia, has entered into a Share Sale and Purchase Agreement to sell its entire equity investment in its Indonesian associate PT Mitra Setia Tanah Bumbu. Upon completion of the transaction, PT Mitra Setia Tanah Bumbu will cease to be an associate of India Cements. The agreement was signed on July 3, 2025, and the sale is expected to be completed within six months. According to the company's disclosure to stock exchanges: The proposed sale consideration is Indonesian Rupiah 2,695,000,000 . Buyers of the stake are Mr. Finsa Noorcahyo F and Mr. Hari Sutikno , both Indonesian citizens. The buyers are not part of the promoter group or related parties. The associate contributed a turnover of ₹93.23 crore in the last financial year, with a net worth of ₹80.74 crore, accounting for about 1.46% of India Cements' net worth as of December 31, 2024. India Cements clarified that the transaction does not constitute a related party transaction and does not fall within a scheme of arrangement or slump sale. The company requested stock exchanges to take the disclosure on record, reiterating its commitment to compliance and transparent disclosures. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
