Q3 FY24 Highlights
- Volume increased 8.1% YoY to 6.8 MnT
- Revenue increased 7.3% YoY to Rs. 3,600 Cr
- EBITDA increased 20.3% YoY to Rs. 775 Cr
- Cement capacity increased to 44.6 MnT
- One of Lowest Carbon footprint in global cement world at 459 kgCO2/Ton[1] of Cement
- Net Debt/EBITDA stood at 0.16x
- Mr. Puneet Dalmia takes additional role of CEO & MD of Dalmia (Cement) Bharat Ltd
New Delhi, January 24th, 2024: Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter and nine months ended December 31, 2023.
- Financial Highlights for the Quarter and 9 Month ended December 31, 2023
(Figures in Rs. Crores unless mentioned otherwise)
Particulars | Q3FY24 | Q3FY23 | YoY | 9MFY24 | 9MFY23 | YoY |
Sales Volume (MnT) | 6.8 | 6.3 | 8.1% | 20.0 | 18.3 | 9.1% |
Income from Operations | 3,600 | 3,355 | 7.3% | 10,373 | 9,628 | 7.7% |
EBITDA | 775 | 644 | 20.3% | 1,974 | 1,609 | 22.7% |
EBITDA (Rs/T) | 1,138 | 1,022 | 11.3% | 988 | 879 | 12.5% |
PAT | 266 | 218 | 22.2% | 533 | 470 | 13.4% |
Net Debt to EBITDA (x) | 0.16x | 0.39x |
| 0.16x | 0.39x |
|
He further added, “Our sales volume improved 8.1% YoY with EBITDA growing 20.3%YoY to Rs. 775 Cr in Q3FY24. With the cement price being largely stable, correction in commodity prices has led to margin recovery; from the lows of 12.8% in Q2FY23 to 21.5% during Q3FY24. While we believe that margins may improve further from here on, our focus for next 12-15 months would remain on improving our capacity utilization and delivering industry leading volume growth.”
- Key updates for the quarter
- Mr. Puneet Dalmia, in addition to CEO & MD of Dalmia Bharat Ltd, has taken additional responsibility of CEO & MD of Dalmia (Cement) Bharat Ltd, the operating company, with effect from December 8, 2023.
- Completed debottlenecking at Belgaum, Karnataka (0.9 MnT). Total Cement capacity increased to 44.6 MnT.
- Received 2nd installment of Rs 320 Cr from Sarvapriya Healthcare Solutions Private Limited, a promoter group company, for the sale of investment in Dalmia Bharat Refractories Limited by Dalmia (Cement) Bharat Ltd.
- Received final installment of Rs 120 Cr from Hippostores Technology Pvt. Ltd., a promoter group company, on account of sale of Hippo Stores (the retail venture).
- Key Recognitions during the quarter
· Won CII SCALE Logistics & Supply Chain Excellence Awards for Most Innovative Delivery Models in Cement Supply Chain
· Won India's best circular economy champion of the year in World Conclave and Awards 2023
· Awarded Outstanding Achievements in Environment Protection in 23rd Annual Greentech Environment Award 2023
· Won Platinum and Jury Champion Award for "In house design, & development of Robotic cleaning device for solar panels" under Innovative Kaizen category
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