“We have emerged stronger from this crisis with our razor sharp focus on the business fundamentals and on the well-being of our customers and our employees,” said Puneet Dalmia, Managing Director, Dalmia Bharat Ltd in a media statement on Thursday.
During the December quarter the company’s sales volume increased by 14% to 5.80 million tonne. The company reported a 51% jump in earnings before interest, taxes, depreciation and amortisation at Rs 691 crore. Ebitda per tonne was at Rs 1,172 up by 32% yoy.
For the quarter under review, the company’s revenue from operations were recorded at Rs 2,857 crore, as against Rs 2,418 crore during the same period last year. The company’s capacity utilization levels are at 81%.
“Premium products registered a growth of 66% year on year and the company maintained its progress on fossil fuel substitution with alternative fuels and renewable energy,”said Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited
The company has repaid around Rs 1,397 crore of debt for the 9 months ending December 2020. As of March 2020, its gross and net debt stood at Rs 5,900 crore and Rs 2,800 crore, respectively.
“We have a very strong balance-sheet and have repaid debt of Rs. 1379 crore during the financial year. Our net debt to EBITDA is at 0.56x as on December 31, 2020,” Dalmia said.
The company has announced that the commercial production from its new clinker manufacturing plant of 3 million tonne per annum at Odisha has started with effect from 1st October, 2020. The company’s total cement making capacity is around 28.5 mtpa.
“Out of new cement grinding plants with capacity of 8 mtpa in eastern part of India, additional capacity of 1.1 mtpa has been commissioned and 2.25 mtpa at Bengal Cement Works is under trial run and likely to be commissioned during March 2021. The balance capacity will be commissioned in a phased manner,” the company’s statement said.
