EBITDA increased by 4.1% to Rs 610 crore in Q1 FY24 as against 586 crore in Q1 FY23. EBITDA margin stood at 16.8% in Q1 FY24 as against 17.7% in Q1 FY23.

Sales volume during the quarter jumped 12.4% to 7 million tonne from 6.2 million tonne recorded in the corresponding quarter last year.

Puneet Dalmia, managing director & CEO – Dalmia Bharat, said, ““We are in midst of a strong demand environment on the back of a sustained push by the Government on infrastructure and a robust real estate cycle already kicking in. Though we have strong conviction in our ability to outperform the industry, this quarter has been a disappointment as against our expectations. Having said so, we remain focused on seizing the emerging demand opportunities, sustaining our position as a cost leader and delivering sustainable return to our stakeholders.”

Mahendra Singhi, managing director and CEO – Dalmia Cement (Bharat), said, “During the quarter gone by, we delivered a 12%YoY growth in cement volumes and witnessed further softening of fuel prices. Given the promising outlook for cement demand, expectation of stable cement prices during rest of the year and softening in commodity costs, we anticipate a gradual improvement in profitability.”

Dalmia Bharat is the fourth-largest cement manufacturing company in India, with the current capacity pegged at 41.7 million tonne.