Dalmia Bharat Limited, a cement manufacturing company, has reported its consolidated financial results for the quarter ending March 31, 2023.
FY23 highlights
- Volume increased 15.9 per cent YoY to 25.7 MnT
- Revenue increased 20.0 per cent YoY to Rs. 13,540 cr
- EBITDA stood at Rs 2,316 cr
- EBITDA/T stood at Rs 900/T
- Installed capacity increased by 7.5 per cent to 38.6 MnT as on 31st March 20232
- One of lowest carbon footprint in global cement world at 463kgCO2/ton of cement*
- Renewable Energy capacity increased by 100 MW to 166 MW (>2.5 times from FY22 end)
- Renewable power consumption increased to 20.9 per cent from 10.1 per cent in FY22 (Q4 FY23 at 25.2 per cent)
- Low carbon (blended) cement percentage is highest ever at 84.1 per cent
- Sale of premium product in trade volumes increased by 19.9 per cent to 3.4 MnT
- Net debt/EBITDA stood at 0.29x
Puneet Dalmia, Managing Director & CEO, Dalmia Bharat Limited, is tremendously proud of his people who have delivered an all-round financial performance alongside meeting the capacity expansion targets of the company. The industry leading volume and revenue growth of 15.9 per cent and 20.0 per cent YoY respectively, is a testament of clarity of the vision, strength of the brand and efficient business operations, all of which is well navigated by Dalmia’s strong leadership team. He further adds that with deep rooted conviction in India’s growth prospects, armed with a combination of newly added cement capacity, a well-capitalised balance sheet and a visionary leadership, Dalmia Bharat has a large headroom to continually deliver industry leading performance and participate in India’s growth story.
Mahendra Singhi, Managing Director and CEO, Dalmia Cement Bharat Limited, is pleased with the company’s performance during the entire year of FY23. The persistent efforts, on enhancing sustainability of its operations and rationalisation of the operating costs, have enabled them to mitigate the adverse impact of inflation and deliver stable earnings performance. He also mentioned that with a robust demand outlook, steady cement prices and the peak of commodity price inflation, the company expects its profitability to gradually improve from here on.
The company has, on 22nd April 2023, commenced commercial production at its second cement line at Bokaro, Jharkhand known as Bokaro Cement Manufacturing Works (JCW2), with capacity of 2.5 MnT. With this addition, the total cement capacity of the company has been enhanced to 41.1 MnT.
In line with its strategy to exit non-core business/investment, Dalmia Cement (Bharat) Limited, a subsidiary of the company, entered into a binding agreement to sell its entire investment of 1,87,23,743 equity shares of Rs 10 each (42.36 per cent of share capital) of Dalmia Bharat Refractories Limited at a consideration of Rs 800 cr to M/s Sarvapriya Healthcare Solutions Private Limited, a promoter group company.
Continuing its commitment to become carbon negative by 2040, the company plans to further add renewable energy capacities and reach 324 MW by end of FY24.
The board has recommended a final dividend of Rs 5 per share (250 per cent) of face value of Rs 2 per share for FY 2022-23 subject to approval of shareholders in ensuing AGM.