Q2FY22 Highlights
- Volume increased 6.2% YoY to 5.1 MnT
- Commercialization of Cement capacity (Line 2) of 2.25 MnT near Cuttack, Odisha
- Total cement capacity increased to 33MnTPA
- Commenced Trial Run production of 3Mnt plant at Maharashtra (erstwhile Murli Industries)
- Declared an interim dividend of Rs 4/- per share
- Became a Net Debt free company; Net Debt/EBITDA at (0.48x)
Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter ending September 30, 2021.
Highlights for the Quarter and Half Year ended September 30, 2021
Commenting on the results, Mr. Puneet Dalmia, Managing Director – Dalmia Bharat Limited, said, “We are pleased with our performance during the quarter. Inspite of unprecedented cost related headwinds across regions, our razor sharp focus on operation efficiencies and execution has helped us contain our costs and deliver industry leading performance. As India’s economy continues to rebound from the lows of last year, we expect demand and pricing environment for the sector to improve for the rest of year.” He further added, “We have made considerable progress on our immediate priorities, including expanding our capacity, driving organizational transformation, reinforcement of our brand and redefining our corporate governance framework. Looking ahead, we remain focused on further strengthening our momentum to drive sustainable and profitable growth and generate top-tier returns for our stakeholders.”
Mr. Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited said, “We are encouraged with higher volumes in a seasonally weak quarter. Our inbuilt operational flexibility along with continued effort & foresightedness of our people has helped us mitigate some of the inflationary impact of the input costs. He also mentioned that, “We have commercialized Line 2 of our cement plant near Cuttack, Odisha as well as began Trial Run production at our Murli plant in Maharashtra. With a larger capacity base, a proactive management team and robust operations, we remain confident to yet again deliver an industry leading performance for the rest of the year as well.”
In line with its Capital Allocation framework, the company has declared an interim dividend of Rs 4 per share.
Furthermore, with a vision to build a pure play cement company, the Board of Dalmia Cement (Bharat) Limited has also approved sale of Master wholesaler business for construction and building materials (Hippo Stores) of the Company as a going concern on a slump sale basis to Hippostores Technology Private Limited, a promoter group company.
During the recently conducted AGM, the company has received approval for the appointment of Walker Chandiok & Co LLP, Chartered Accountants (a member firm of Grant Thornton) as its statutory auditors.
Key Recognitions
- Dalmia Cement Becomes India’s First Cement Manufacturer to Receive Green Accreditation from GRIHA – the national rating system for green buildings in India that was jointly set up by The Energy and Resources Institute (TERI) and the Ministry of New and Renewable Energy (MNRE), Government of India to combat climate change
- Dalmia Cement joined First Movers Coalition which is to be launched in COP26 climate summit in Glasgow, Scotland – First company from emerging economies in heavy-industry sector to join FMC as founding member
- Dalmia Cement (Bharat) Limited represented by Mr. Mahendra Singhi, MD and CEO, delivered a session at first ever in-person climate conference in Scotland by TED
- Dalmia Bharat Foundation was awarded as Leader of Sustainable Change in ET SDGs Summit organized by ET Edge
- Dalmiapuram, Ariyalur, KCW, GCW, Belgaum plants were awarded as National Energy Leader in the 22nd National Award for Excellence in Energy Management by CII
- GCW plant was recognized for its efforts towards building safe workplace in Greentech Effective Culture Award by Greentech
