Dalmia Bharat Limited announced its unaudited consolidated financial results for the quarter and half year ended September 30, 2020.
Quarterly Highlights:
· Sales Volume increased 7% YOY to 4.8MnT
· Cement EBITDA margin increased 900 bps to 30%
· Highest ever quarterly EBITDA at 702Cr
· PAT increased six folds to Rs. 232Cr
· Achieved a Net Debt to EBITDA at 0.87
· Repaid Gross Debt Rs. 246Cr (Rs. 754Cr in H1’21)
· Acquisition of Murli Industries completed
o Integrated plant with installed capacity of 3MnT
o Thermal power plant of 50MW and
o Marks our manufacturing presence in the state of Maharashtra
· Successful completion of Share buyback program
o 61.66 Lakh shares bought back from open market for Rs. 329Cr
o Total no. of fully paid up shares as on date 18.67Cr
· Started commercial production of the clinker line of 3MnT at Odisha w.e.f 1st Oct 2020
Mr. Mahendra Singhi, CEO & MD – Dalmia Cement Bharat Limited commented, “The strength of our company’s foundation is visible in overall improvement in the operating metrics during the quarter and the half year. Our team has truly been instrumental to our success and we are completely geared up for a successful integration of the new capacity and ramping up its utilization levels. Our EBITDA at Rs. 702Cr is the highest ever for the company during a quarter.”
Other Highlights
The company achieved a volume growth of 7% YOY on the back of demand from Rural segment and pickup in Government’s infrastructure and low cost housing projects. The Eastern states continued to outperform with green shoots of demand revival visible in South in the latter part of the quarter.
We witnessed a seasonal weakness of cement prices during the quarter, especially in Eastern region.
We accomplished an increase of 40% YOY in EBITDA/T at Rs. 1457 due to a conscious and continuous containment of both variable & fixed costs.
With a clear focus to strengthen the balance sheet and have a robust cash position, we have during the quarter repaid close to Rs. 246Cr of gross debt and our Net Debt to EBITDA ratio is now at 0.87x.
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