Nuvoco Vistas EBITDA up 55% in 3QFY24
India-based Nuvoco Vistas Corp Ltd has reported consolidated revenue of INR24,210m (US$291.8m) in the 3QFY23-24, ended 31 December 2023. Consolidated EBITDA over the same period came in at INR4210m, up 55 per cent YoY, while the consolidated cement sales volume for the quarter stood at 4.02Mt.
The company has recently commissioned a 1.2Mta mill at its Haryana cement plant, taking the producer’s overall cement capacity to 25Mta. This latest expansion will boost the company’s production volumes in the Northern region of India and enhance its ability to provide a diverse range of products to its customers. Nuvoco has also commissioned five new ready-mixed concrete plants in the current fiscal year, bringing its total to 56 plants across India.
Commenting on the results, Jayakumar Krishnaswamy, managing director of Nuvovo Vistas, said, “Despite the challenging demand environment, the company continues to deliver strong growth in EBITDA. We achieved the highest EBITDA per tonne compared to the past ten quarters; a testament to our operational excellence, focusing on cost efficiency and value-led growth.”
It also remains committed to its sustainability agenda with the 3QFY23-24 seeing a five per cent YoY improvement in its alternative fuel rate to 14 per cent, and one of the lowest carbon emission rates at 462kg CO2/t cementitious material.
