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Madras cements: Enhanced liquidity

(Dec 18, 2003)

Madras Cements, one of the most cost efficient players in the Indian cement industry, recently announced a stock split whereby the stock of the company of face value Rs 100 will be sub divided into 10 share of Rs 10 each.

Madras Cements: Ready to capitalise

(Sep 1, 2003)

The year gone by (FY03) was not particularly good for the Indian cement industry from the point of view of realisations. While prices fell across the length and breadth of the country, the southern region was the worst hit as far as realisations are concerned. Madras cement is one of the leading players in the southern region and, in this article, we will try and find out how geared up the company is, in view of the increasing competition in the southern region.

Madras Cements: Promising performance

(Jul 31, 2003)

Madras Cements, one of the most efficient cement producers in the country has announced a strong performance in the June quarter. The company has reported a 14% topline growth which has led to an even stronger 87% rise in bottomline for the June quarter on a YoY basis. While there has been no significant improvement in operating margins, reduction in interest expenses has contributed positively to the bottomline improvement.

Madras Cements: March quarter surprise

(Jun 23, 2003)

Madras Cements, one of the largest cement producers in the southern region has reported encouraging March quarter results. It has reported a 76% jump in its bottomline on the back of a 5% rise in topline during the quarter. However, the cement major has reported a 52% drop in its bottomline for FY03 on the back of a 11% drop in its topline. Due to the better performance of the company in the December and March quarters, the full year financial performance has been salvaged to an extent.

Madras Cements: Poor show

(Oct 28, 2002)

Madras Cements, one of the largest cement producers in the southern region, has announced disappointing 2QFY03 results. The company reported a 15% fall in topline while its net profit declined by a considerable 27%. However, a 34% rise in other income has pared the fall in net profits.

Madras Cement: Realisations hit topline

(Jul 29, 2002)

Madras Cement has announced 1QFY03 results and they are disappointing to say the least. The company has reported a 23% drop in topline while profit before taxes have shown a degrowth of 71% on a YoY basis. For 1QFY03 the company has deferred provisioning of taxes till the end of the year and hence PBT shows a like to like comparison.

Madras Cement: Faces heat in south

(Jun 10, 2002)

Madras Cement has announced poor FY02 results. Its net profit for the period has declined by a sharp 45% YoY. Though the topline of the company has shown a healthy 14% growth, Madras Cement's inability to control operating costs, increased depreciation and interest expenses hit profitability. The company seems to have recovered slightly in the fourth quarter as net profits were down by just over 4%. This recovery has been due to higher dispatches in the last quarter.

Cement: Efficiency benefits

(May 23, 2002)

The cement industry in India is slowly moving towards consolidation. The major players in the country are in the process of forming alliances in order to corner maximum market shares. Large size and better operational efficiency have emerged as the key success factors in today’s highly competitive environment.

Madras Cements: Margins take a pounding

(Oct 29, 2001)

Madras Cements has reported dismal results for the second quarter ended September 30, 2001. Net profit for 2QFY02 has fallen by 94.1% to Rs 15 m. This was due to a 48% rise in expenses primarily led by higher raw material, power and selling expenses.

Madras Cements: Sales, profits rocket

(Aug 2, 2001)

Madras Cements has posted a 45% increase in topline during the quarter ended 30th June 2001. The company’s profits more than quadrupled on the back on better realisation and higher volumes. Growth in volumes was fuelled by the commissioning of the company's new 1 million tonne plant.

Madras Cement: OPM takes a knock

(Jun 6, 2001)

From the limited information on results that is available, it seems that Madras Cements has reported a decline in operating margins for the year ended 31st March 2001. The company has posted a nearly 20% growth in sales.

Madras Cement: Operating margins zoom

(Feb 5, 2001)

Madras Cements has reported a sharp rise in net profits for the quarter ended 31st December 2000. The company has benefited from a jump in operating margins.

Madras Cements posts 8% drop in net

(Oct 24, 2000)

Madras Cements Limited has posted a 16% growth in sales for the quarter ended 30th September. Despite this there has been a drop in profits. This can be attributed to the sharp decline in operating profit margins.

More consolidation - Lafarge eyeing Madras Cements?

(Jun 1, 2000)

Lafarge, according to reports carried in the Economic Times, has struck again. The company is said to have made a Rs 15 bn bid for the 3.5 million tonne capacity of Madras Cements Limited. This is latest in a rash of deals that have engulfed the sector in last one year.

Madras Cements firms up expansion plan

(Sep 24, 1999)

Madras Cements Limited is planning to expand its cement manufacturing capacity by 900,000 tonnes per annum. The company also plans to set up a captive gas based power plant (14-16 MW). The total capital expenditure involved is Rs 2 bn.


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