India’s Dalmia Cement (Bharat) Ltd has seen a seven per cent YoY rise in sales volume to 4.8Mt in the second quarter of the FY20-21, on the back of strong rural demand and a pick-up in the government’s infrastructure and low-cost housing projects.
The company also reported its highest ever quarterly EBITDA at INR7.02bn (US$94.68m), compared to INR4.75bn in the 2QFY19-20. Profit after tax also surged to INR2.32bn from INR360m.
"The strength of our company’s foundation is visible in overall improvement in the operating metrics during the quarter and the half year. Our team has truly been instrumental to our success and we are completely geared up for a successful integration of the new capacity and ramping up its utilisation levels," said Mahendra Singhi, CEO and MD.
Sales volumes in the first half of the fiscal year fell to 8.46Mt from 9.02Mt in the 1HFY19-20. However, EBITDA advanced 8.2 per cent YoY to INR13.16bn from INR11.41bn.
New appointment
Dalmia Bharat Group has also announced the appointment of Rajiv Bansal as senior executive director. Mr Bansal joins the group from DXC Technology, one of the largest IT services companies in the world, where he served as the CFO of its US$9bn Americas business.
Commenting on the appointment, Puneet Dalmia, MD of Dalmia Bharat Ltd, said: "We are delighted to have Rajiv as part of our senior leadership team. Rajiv brings with him rich global experience, proven leadership and deep strategic insights. He will be working very closely with me and Mahendra Singhi, MD and CEO of Dalmia Cement Bharat Ltd, to strengthen our existing goals and strategies and in formulating and implementing newer initiatives that align with the long term goals and vision of the company."
