Dalmia Bharat Limited, one of the leading cement manufacturing companies, has reported its consolidated financial results for the quarter ending December 31, 2021.
Highlights for the quarter
(Figures in Rs. Cr.)
Particulars (Rs. Cr)
Q3FY22
Q3FY21
9MFY22
9MFY21
Sales Volume (MnT)
5.7
5.8
15.6
14.3
Income from Operations
2,731
2,737
7,895
6,951
EBITDA
409
681
1,743
1,994
Profit Before Tax
93
311
786
977
Profit After Tax
73
179
575
601
PAT Margin (%)
2.7%
6.5%
7.3%
8.6%
EPS* (Rs.)
5.1
9.7
28.1
32.2
Net Debt to EBITDA (x)
(0.64)
0.56
(0.64)
0.56
*Includes both continuing and discontinued operations
Commenting on the results, Puneet Dalmia, Managing Director – Dalmia Bharat, said, “The industry witnessed a difficult quarter with unprecedented cost escalations coupled with a weak demand scenario. However, we believe that the peak of costs is behind us and both the demand and prices are showing some strength.”
He further added, “With recent economic data suggesting recovery in macro indicators, I am excited about the tremendous opportunity ahead. We are pursuing our growth ambitions conscientiously and are making investments to deliver sustainable and profitable growth while ensuring consistency and predictability of our earnings.”
Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat), said, “In spite of a tough quarter, we have delivered sales volume in line with the industry. The margins, during the quarter, were impacted due to a significant inflation in the energy prices and market weakness in core regions of our operation. However, beginning mid-December, things have started to look good. To mitigate impact of external exigencies, we are working to further strengthen our operational efficiencies and explore avenues of cost rationalisations.”
In line with Capital Allocation Framework, the company has completed Sale of Hippo Stores (the retail venture) on 31st December, 2021 by way of slump sale to Hippostores Technology Pvt. Ltd., a promoter group company for a consideration of Rs. 155 cr.
To spearhead its journey towards the goal of becoming Carbon Negative by 2040, the Company has appointed Dr. Arvind Madhukar Bodhankar as ESG Head and Chief Risk Officer
In line with the vision to build a pan India company, it has commercialised its 2.9Mnt Murli Plant in Maharashtra, which marks the beginning of its manufacturing presence in western India.
Key recognitions
First company in cement sector to receive accreditations by two prominent green rating systems – ‘GRIHA’ and CII –IGBC.
First cement company in India to receive a green accreditation from the Green Product Rating for Integrated Habitat Assessment (GRIHA) council.
Awarded the prestigious GreenPro Ecolabelling Certificate by the Indian Green Building Council (IGBC), a part of the Confederation of Indian Industries (CII).
Dalmia Cement won following Multiple Apex Green Leaf Awards
In corporate category for Sustainability in Cement Sector
For Environment Excellence bagged by Company’s Rajgangpur unit
Ministry of Mines (GOI) awarded the Belgaum mines with 5 Star Award in Sustainability
Dragons of Asia Awards 2021(Bronze) to Dalmia Delight, company’s dealer loyalty programme
Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.
JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.
As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.
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