Dalmia Bharat reports 20% revenue growth in FY23

Dalmia Bharat Ltd has reported a 20 per cent YoY increase in revenue to INR135.4bn (US$1653m) in FY22-23, ended 31 March 2023. EBITDA over the same period fell 4.5 per cent YoY to INR23,160m, while profit after tax advanced by 27.6 per cent to INR10,790m. Sales volumes for FY23 came in at 25.7Mt, up 15.9 per cent from the 22.2Mt reported in the same period a year earlier. 

In the 4QFY22-23, revenue improved by 15.7 per cent YoY to INR39,120m, while EBITDA increased by 3.5 per cent to INR7070m. Sales volumes over the three-month period were up 13.3 per cent YoY to 7.4Mt. 

“I am tremendously proud of our people who have delivered an all-round financial performance alongside meeting the capacity expansion targets of the company. The industry leading volume and revenue growth of 15.9 per cent and 20 per cent YoY respectively, is a testament of clarity of our vision, strength of our brand and efficient business operations, all of which is well navigated by our strong leadership team,” said Puneet Dalmia, managing director and CEO, Dalmia Bharat Ltd. 

On 22 April 2023, the company began production at its second cement line at Bokaro, Jharkhand, adding 2.5Mta of capacity and taking the company’s total cement capacity to 41.1Mta. Continuing its commitment to become carbon negative by 2040, the company plans to further add renewable energy capacities and reach 324MW by end of FY23-24.

“I am pleased with our performance during the entire year of FY23. Our persistent efforts, on enhancing sustainability of our operations and rationalisation of our operating costs, have enabled us to mitigate the adverse impact of inflation and deliver stable earnings performance,” added Mahendra Singhi, managing director and CEO, Dalmia Cement (Bharat) Ltd.  “With robust demand outlook, steady cement prices and the peak of commodity price inflation behind us, we are expecting profitability to gradually improve from here on.”