Dalmia Bharat Ltd records INR2660m profit in 3QFY24

Dalmia Bharat Ltd reported profit after tax of INR2660m (US$32m) in the 3QFY23-24, up 22 per cent from INR2180m in the 3QFY22-23. Sales volume reached 6.8Mt in the 3QFY23-24. This was a rise of 8.1 per cent from the 6.3Mt recorded in the 3QFY22-23. The 3QFY23-24 EBITDA for the company amounted to INR7750m, a rise of 20.3 per cent from the INR6440m reported in the 3QFY22-23.

Commenting on the quarter gone by, Puneet Dalmia, MD and CEO of Dalmia Bharat Ltd, said, “India has undergone a huge metamorphosis with a lot of reforms in the last decade. With this, the base for sustainable growth has been set, the momentum is clearly built and we are now clearly transitioned from a Reform Phase into a fast Growth phase. Foreseeing this massive growth opportunity, we remain committed to our plan of 110-130Mt by 2031.

“With the cement price being largely stable, correction in commodity prices has led to margin recovery; from the lows of 12.8 per cent in Q2FY22-23 to 21.5 per cent during Q3FY23-24. While we believe that margins may improve further from here on, our focus for next 12-15 months would remain on improving our capacity utilisation and delivering industry leading volume growth.”

The company has also completed debottlenecking at Belgaum, Karnataka (0.9Mt). Total group cement capacity has increased to 44.6Mta.