Digvijay Cement reports financial results from 1H24

Digvijay Cement has reported its revenue from ongoing operations for the period ended 30 June 2024 as INR1.76bn (US$21.1m). This represents an 8.3 per cent decrease from the corresponding period in the year previous where revenue was reported at INR1.9bn. 

The EBITDA of the company has also decreased in this period, from INR324m to INR237m, a 26.8 per cent decrease. 

“The performance during the quarter was sub-par due to severe heat, general elections led to a very subdued demand. Prices remained low and continue to remain challenging. It is expected that with good monsoon and budget allocation for infrastructure capex etc will revive the cement demand and better prices,” said Anil Singhvi, executive chairman of the company.