On consolidated basis
Quarter ended June 2024 compared
with Quarter ended June 2023.
Net sales (including other operating income) of Dalmia Bharat has declined
0.17% to Rs 3621 crore.
Operating profit margin has jumped
from 16.90% to 18.48%, leading to 9.14% rise in operating profit to Rs 669.00
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 14.56% to 15.64%. Purchase of finished
goods cost rose from 2.60% to 2.86%. Employee cost increased from
6.01% to 6.16%. Other expenses fell from 60.24% to 57.25%.
Power and Oil fuel cost fell from 24.41% to 20.45%.
Freight charges rose from 21.89% to 22.43%.
Other income fell 7.41% to Rs 50
crore. PBIDT rose 7.80% to Rs 719 crore. Provision for
interest rose 14.46% to Rs 95 crore.
PBDT rose 6.85% to Rs 624
crore. Provision for depreciation fell 20.55% to Rs 317
crore.
Profit before tax grew 65.95% to Rs
307.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 49 crore, compared to
Rs 41 crore. Effective tax rate was 25.26% compared to 22.16%.
Minority interest decreased 71.43%
to Rs 4.00 crore. Net profit attributable to owners of the company
increased 8.46% to Rs 141.00 crore.
Promoters’ stake was 55.84% as of 30
June 2024 ,compared to 55.86% as of 30 June 2023 .
Full year results analysis.
Net sales (including other operating income) of Dalmia Bharat has increased
8.40% to Rs 14691 crore.
Operating profit margin has jumped
from 17.18% to 17.96%, leading to 13.36% rise in operating profit to Rs
2,639.00 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 14.09% to 14.45%. Purchase of
finished goods cost rose from 0.38% to 3.86%. Employee cost
increased from 5.70% to 5.94%. Other expenses fell from 62.62% to
57.77%. Power and Oil fuel cost fell from 27.19% to 21.23%.
Freight charges rose from 20.71% to 21.83%.
Other income rose 150% to Rs 315
crore. PBIDT rose 20.37% to Rs 2954 crore. Provision for
interest rose 64.96% to Rs 386 crore. Loan funds rose to Rs 4,805.00
crore as of 31 March 2024 from Rs 3,855.00 crore as of 31 March
2023. Inventories declined from Rs 1,316.00 crore as of 31 March
2023 to Rs 1,218.00 crore as of 31 March 2024. Sundry debtors were
higher at Rs 836.00 crore as of 31 March 2024 compared to Rs 700.00 crore as of
31 March 2023. Cash and bank balance rose to Rs 582.00 crore as of
31 March 2024 from Rs 285.00 crore as of 31 March 2023. Investments
rose to Rs 4,462.00 crore as of 31 March 2024 from Rs 3,524.00 crore as of 31
March 2023 .
PBDT rose 15.68% to Rs 2568
crore. Provision for depreciation rose 14.79% to Rs 1498
crore. Fixed assets declined from Rs 15,925.00 crore as of 31 March
2023 to Rs 15,178.00 crore as of 31 March 2024. Intangible assets
increased from Rs 730.00 crore to Rs 2,949.00 crore.
Profit before tax grew 16.94% to Rs
1,070.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 216 crore, compared to
Rs 242 crore. Effective tax rate was 20.19% compared to 18.26%.
Minority interest decreased 38.64%
to Rs 27.00 crore. Net profit attributable to owners of the company
decreased 20.40% to Rs 827.00 crore.
Equity capital increased from Rs
37.00 crore as of 31 March 2023 to Rs 38.00 crore as of 31 March
2024. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 55.84% as of 31
March 2024 ,compared to 55.86% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 2,635.00 crore for year ended March 2024 from Rs 2,252.00 crore
for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 2,827.00 crore, compared to Rs
2,709.00 crore during the year ended March 2023.
Operational highlights:
For Q1FY2025
Volume increased 6.2%
YoY to 7.4 MnT
EBITDA/T increased 2.8%
YoY to Rs. 901/T
Expansion:
The company commissioned
1 MnT cement capacity each at its existing units at Ariyalur, Tamil Nadu and
Kadapa, Andhra Pradesh respectively. This takes company’s overall installed
capacity to 17 MnT in South and 46.6 MnT in India, and is in line with the
long-term growth strategy of increasing the total capacity to 110-130 MnT by
the 2031
Management Commentary:
Commenting on the performance
Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat, said, “The
continuity of the incumbent government at the Centre ensures policy stability
and a continued focus on infrastructure spending, which bodes well for cement
sector`s long-term prospects, particularly cement demand. During the quarter,
even though cement demand was weak across regions amidst general elections, our
volumes grew 6.2% YoY while margins improved to 18.5% from 16.9% last year.”
Mr. Dhrmendra Tuteja,
CFO – Dalmia Bharat said, “The cement pricing continued to be weak during the
quarter, but we saw a notable improvement in margins due to better input prices
and reversal of certain cost inefficiencies of the previous quarter. We 1 are
progressing well on the long-term levers of margin improvement including
investment in brand, renewable energy and operationalizing captive coal mines.”
He also said, “We have added 2 MnT of cement capacity in South and are on track
to add another 2.9 MnT in North East & East region during FY25. Our strong
balance sheet positions us well for the next phase of expansion.”
| Dalmia Bharat : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 3,621.00 | 3,627.00 | -0.17 | 14,691.00 | 13,552.00 | 8.40 | | OPM (%) | 18.48 | 16.90 | 157 bps | 17.96 | 17.18 | 79 bps | | OP | 669.00 | 613.00 | 9.14 | 2,639.00 | 2,328.00 | 13.36 | | Other Inc. | 50.00 | 54.00 | -7.41 | 315.00 | 126.00 | 150.00 | | PBIDT | 719.00 | 667.00 | 7.80 | 2,954.00 | 2,454.00 | 20.37 | | Interest | 95.00 | 83.00 | 14.46 | 386.00 | 234.00 | 64.96 | | PBDT | 624.00 | 584.00 | 6.85 | 2,568.00 | 2,220.00 | 15.68 | | Depreciation | 317 | 399 | -20.55 | 1498 | 1305 | 14.79 | | PBT | 307.00 | 185.00 | 65.95 | 1070 | 915 | 16.94 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 554 | - | | PBT before EO | 307 | 185 | 65.95 | 1070 | 1469 | -27.16 | | EO Income | -113 | 0 | - | 0 | -144 | - | | PBT after EO | 194 | 185 | 4.86 | 1070 | 1325 | -19.25 | | Taxation | 49 | 41 | 19.51 | 216 | 242 | -10.74 | | PAT | 145 | 144 | 0.69 | 854 | 1083 | -21.14 | | Minority Interest (MI) | 4 | 14 | -71.43 | 27 | 44 | -38.64 | | Net profit | 141 | 130 | 8.46 | 827 | 1039 | -20.40 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | -1 | -4 | 75.00 | | Net profit after discontinued operations | 141 | 130 | 8.46 | 826 | 1035 | -20.19 | | EPS (Rs)* | 11.90 | 6.93 | 71.64 | 44.10 | 60.23 | -26.79 | | | * EPS is on current equity of Rs 37.51 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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