Delivers Industry leading Volume Growth of 18.5%YoY in Q4’24
Mumbai, April 25th, 2024: Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter and year ended March 31, 2024.
- Financial Highlights for the Quarter and Year ended March 31, 2024
(Figures in Rs. Crores)
| Particulars | Q4FY24 | Q4FY23 | YoY | FY24 | FY23 | YoY |
| Sales Volume (MnT) | 8.8 | 7.4 | 18.5% | 28.8 | 25.7 | 11.8% |
| Income from Operations | 4,307 | 3,915 | 10.0% | 14,691 | 13,552 | 8.4% |
| EBITDA | 654 | 710 | -7.8% | 2,639 | 2,328 | 13.4% |
| EBITDA (Rs/T) | 743 | 955 | -22.2% | 917 | 904 | 1.4% |
| PAT | 320 | 609 | -47.5% | 853 | 1,079 | -20.9% |
| Net Debt to EBITDA (x) | 0.18x | 0.28x | 0.18x | 0.28x |
Commenting on the performance, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, 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. 2,639Cr. 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.”
Mr. 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 Q4’23 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.”
Key updates for the quarter
- Dalmia Cement elevates its commitment to home builders with new brand positioning as the Roof Column Foundation (RCF) Expert; onboards Ranveer Singh as the Brand Ambassador.
- In line with the commitment towards RE100 by 2030 & Carbon Negative by 2040 Dalmia Cement (Bharat) Limited has entered into Share Purchase Agreement, Deed of Accession and Power Purchase Agreement, to acquire 18.13% of equity share capital of O2 Renewable Energy V Private Limited, in one or more tranches to source wind power as a captive consumer for a capacity up to 11 MW.
- The Board has recommended a final dividend of Rs 5 per share (250%) of face value of Rs 2 per share for FY 2023-24 subject to approval of shareholders in ensuing AGM.
Key Recognitions during the quarter
- Dalmia Cement won the Esteemed CII CAP 2.0o Award for Exemplary Climate Resilience
- The GEEF Global Safety Award 2024 was bestowed to Rajgangpur unit in Platinum Category for outstanding contributions to safety within the Cement Industry
- Kadapa unit won the Gold Award in the Industrial Safety Excellence Category by CII Andhra Pradesh at the CII Industrial Safety Excellence Award 2023