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Cement & Cement Products company Dalmia Bharat announced FY24 results:
Financial Highlights:
- Volume increased 11.8% YoY to 28.8 MnT.
- Revenue increased 8.4% YoY to Rs 14,691 crore in FY24.
- EBITDA increased 13.4% YoY to Rs 2,639 crore in FY24.
- Installed cement capacity increased by 15.6% YoY to 44.6 MnT.
- Brand re-positioning as ‘RCF expert’ and onboarded Ranveer Singh as Brand Ambassador.
- One of Lowest Carbon footprint in global cement at 460 kgCO2/Ton of Cement.
- Net Debt/EBITDA stood at 0.18x.
Commenting on the performance, Puneet Dalmia, Managing Director & CEO, Dalmia Bharat, said, “Cement sector has a pivotal role in India's growth story and infrastructure, housing and private capex will drive the demand growth for the next decade and beyond. During FY24 we delivered a volume growth of 11.8% at 28.8Mnt and EBITDA growth of 13.4% at Rs 2,639 crore. We will continue to work on gaining market share and improving realizations while deepening the cost leadership. I remain excited about the tremendous opportunity ahead and believe that we are on a clear path of accelerated growth backed by sustainable business investments, strong Balance Sheet and a dedicated team.”
Dharmender Tuteja, Chief Financial Officer, Dalmia Bharat Limited, said “We bounced back and delivered an industry-leading volume growth of 18.5% YoY during the quarter. However, unexpected drop in cement prices led to EBITDA erosion during the quarter with EBITDA margin declining from 18.1% in Q4FY23 to 15.2% in current quarter. During the ensuing year, we will continue to focus on our levers of long-term cost savings including renewable energy, operationalizing our captive coal mines, digitization of supply chain and invest in our brand.”
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