Sagar Cements posts 15% YoY production growth

India's Sagar Cements Ltd has reported cement production of 5.47Mt in FY23-24 (1 April 2023-31 March 2024), up 15 per cent YoY. Clinker production over the same period improved by 22 per cent to 4.36Mt. Net sales in FY23-24 came in at INR24,982.5m (US$299m), marking an advance of 12 per cent YoY, while EBITDA expanded by 61 per cent to reach INR2459.1m.

Profit after tax in FY23-24 stood at a loss of INR520.5m, compared to a gain of INR96.1m in the previous year, while earnings per share slipped from INR0.74 in FY22-23 to a loss of INR3.98 in the same period a year later. 

The company currently runs 10.5Mta of cement production capacity and 6.6Mta of clinker production capacity, giving a utilisation rate in FY23-24 of 53 per cent. According to its annual report, it aims to double its prodiction capacity to 20Mta by 2035.

In terms of sustainability, FY23-24 saw a clinker factor of 74 per cent, against a target of 64 per cent by 2030 and 50 per cent by 2050. Scope 1 emissions in FY23-24 stood at 632kg of CO₂/Mt with a target of 527kg set for 2030. A 3.3 per cent increase in its use of alternative fuel (AF) was noted in FY22-23. The company aims to reach an AF rate of 25 per cent by 2030 and 50 per cent by 2050.