Saurashtra Cement Ltd has reported consolidated revenue from operations of INR17.65bn (US$210m) in FY23-24 (ended 31 March 2024), up from INR16.45bn (seven per cent YoY). EBITDA for the year was INR1.2bn, compared to INR572m in FY22-23, reflecting a 77.1 per cent YoY increase. Net profit for the year before tax came in at INR565m, marking an 88 per cent YoY increase.
Blended cement sales growth was higher than the overall sales growth and clinker production was up nine per cent than the previous year due to better throughput at both of the company’s plants, said Saurashtra Cement. Cement production advanced eight per cent compared to the previous year. The company has also launched ‘Hathi Prime’ during FY23-24.
Looking ahead, the company has stated that the demand growth is being fuelled by housing market in India, accounting for 60-65 per cent of cement consumption. Investments in infrastructure are likely to continue, with minor aberrations during election periods. Saurashtra predicts consumption to grow at six to seven per cent for the next four to five years.
