Nuvoco Vistas Corp. Ltd. announced its audited financial results for the quarter and year ended March 31, 2022 on 24th May 2022.
The consolidated cement sales volume for the Company improved by 31%QoQ to 5.5 MnT in Q4 FY22. Consolidated revenue from operations during the same period improved by 35%QoQ to Rs 2,930 crores while consolidated EBITDA increased by 83%QoQ to Rs 440 crores.
Consolidated revenue from operations improved by 24%YoY to Rs.9,318 crores for the year ended March 31, 2022. Consolidated EBITDA and PAT during FY22 stood at Rs 1,539 crores and Rs 32 crores respectively. Consolidated net debt of the Company declined by Rs 431 crores in Q4 FY22 and Rs 1,666 crores in FY22 to Rs 5,064 crores.
Commenting on the financial results, Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd. said, “FY22 was an exceptionally challenging year. Several crises such as – the resurgence of COVID-19 pandemic, sand unavailability and inflationary pressure – have negatively impacted the industry. In the meantime, we continued to focus on internal levers and operational efficiencies. Market share of our premium products on trade volumes improved to 34% and will remain a major thrust area. Our investments in sustainability projects will further our ESG Agenda. We also remain committed to grow our operations on account of the announced clinker expansion plans at Risda & Nimbol; and Grinding Unit at Bhiwani.”