The Business Bytes
NEW DELHI, APRIL 24, 2024 (TBB BUREAU): Dalmia Bharat Limited, a prominent player in the cement manufacturing sector, has announced its consolidated financial results for the fourth quarter (Q4FY24) and fiscal year (FY24) ending March 31, 2024, showcasing significant growth despite market challenges.
The company reported a notable surge in sales volume, with an 18.5 per cent increase year-on-year for the quarter and an 11.8 per cent rise for the fiscal year.
The company’s financial highlights include a significant surge in sales volume, witnessing an 18.5 per cent increase year-on-year for the quarter and an 11.8 per cent rise for the fiscal year. Dalmia Bharat reported a commendable 10 per cent increase in income from operations for the quarter, reaching Rs. 4,307 crore. For the fiscal year 2023-24, the income stood at Rs. 14,691 crore, reflecting an 8.4 per cent rise. Although there was a slight decline in EBITDA during the fourth quarter, the fiscal year saw substantial growth of 13.4 per cent, amounting to Rs. 2,639 crore. Profit After Tax (PAT) for Q4FY24 experienced a dip of 47.5 per cent compared to the previous year, attributed to market dynamics. However, the PAT for FY24 stood at Rs. 853 crore, reflecting a moderate decline of 20.9 per cent.
Puneet Dalmia, Managing Director & CEO of Dalmia Bharat Limited, emphasized the pivotal role of the cement sector in India’s growth narrative. He expressed optimism regarding sustained demand growth driven by infrastructure development, housing, and private investments. Dalmia reaffirmed the company’s commitment to gaining market share, enhancing realizations, and fortifying its cost leadership.
Chief Financial Officer Dharmender Tuteja highlighted the industry-leading volume growth of 18.5 per cent year-on-year during the quarter. He acknowledged the challenges posed by unexpected fluctuations in cement prices, impacting EBITDA margins. Tuteja outlined the company’s strategic focus on long-term cost-saving initiatives, including investments in renewable energy, operational efficiency in captive coal mines, and digital transformation across the supply chain.
Despite short-term hurdles, Dalmia Bharat Limited remains committed to sustainable growth, anchored by prudent investments, a resilient balance sheet, and a dedicated workforce. As the company navigates through market dynamics, it continues to uphold its commitment to innovation, efficiency, and value creation for stakeholders.
