Dalmia Bharat Ltd reports revenue of INR33,020m in 1QFY22-23

Dalmia Bharat Ltd reported its consolidated financial results for the quarter ending 30 June 2022 (1QFY2023) with revenue totalling INR33,020m (US$414.8m) compared to INR25,910m in the 1QFY2022. EBITDA reached INR5860m in the 1QFY2023 down from INR7130m in the 1QFY2022.

Sales volumes rose by 27.3 per cent to 6.2Mt from 4.9Mt in the 1QFY2022. Profit after tax totalled INR2050m in the 1QFT2023 down 26.8 per cent from INR280m in the 1QFY2022.

Commenting on the quarter gone by, Puneet Dalmia, MD and CEO of Dalmia Bharat Ltd, said, “While we may be in the midst of global economic headwinds and trade turmoil, we are cautiously optimistic with regards to the medium- and long-term growth of the Indian Economy. We remain confident that the government’s push for capital expenditure as well as constant focus on infrastructure development will continue to boost cement demand.

“The continuous efforts and resilience of our teams have enabled us to deliver yet again a good performance on the back of strong volume growth and continuous cost leadership. We are committed to delivering industry leading returns to our stakeholders through our sustainable business model and a robust governance mechanism.”

Mahendra Singhi, MD and CEO of Dalmia Cement (Bharat) Ltd said, “I am pleased with our performance this quarter. Our sustained efforts on operational efficiencies and cost rationalisation have enabled us mitigate the adverse impact of inflation and deliver lowest total cost of production. He added “Our capacity expansion projects are on track and we have added 2Mt of clinker capacity and 1.1Mt of cement capacity and which takes our cement manufacturing installed capacity to 37Mt. We remain firm on our carbon negative roadmap and during the quarter have installed 41.4MW of renewable energy.”