Dalmia Cement reports 23% rise in revenue

Dalmia Cement (Bharat) Ltd has reported a 22.7 per cent YoY increase in revenue to INR33,550m (US$405.6m) in the 3QFY22-23 ended 31 December 2022. EBITDA over the same period advanced by 57.5 per cent to INR6440m, while cement volumes expanded by 11.5 per cent to reach 6.3Mt.

In the 9MFY22-23, revenue improved by 21.8 per cent YoY to INR96,280m, while EBITDA declined 7.7 per cent to INR16,090m. Volumes over the nine-month period came in at 18.3Mt, up 17.1 per cent from the 15.6Mt reported in the same period a year earlier.

Commenting on the 3QFY22-23 results, Puneet Dalmia, managing director and CEO, Dalmia Bharat Ltd, said, “Sustaining the strong momentum, we delivered yet another quarter of solid all-round performance. Our consistent performance is driven by clarity of our vision, excellence in our processes & operations, and agility of our teams. With India well positioned to be the fastest growing economy in the world and cement sector being the direct beneficiary of the same, I am excited about the opportunity that lies ahead of us.”

“The acquisition of the cement assets of Jaiprakash Associates in Central India is an important milestone in our journey to emerge as a pan-India cement company and reach 75Mt by FY26-27 and 110-130Mt by 2031. Our company is on a clear path of accelerated growth backed by a strong balance sheet and an exceptionally dedicated leadership,” he added.