India’s Dalmia Bharat has reported a 37 per cent rise in profit after tax (PAT) in 4QFY24-25, despite a five per cent fall in revenue. The published figures show a PAT of INR4.39bn (US$51.4m) compared to INR3.2bn the same period a year earlier, while revenue stood at INR40.91bn compared to INR4.07bn. The company saw a 2.8 per cent YoY decline in sales volumes during the quarter to 8.6Mta from 8.8Mta in the 4QFY24-25.
FY24-25 results
However, there was an 18 per cent drop in profits across the entire financial year to INR6.99bn from INR8.54bn in the previous financial year. Revenue for the year also fell to INR139.8bn, down 4.8 per cent from INR146.91bn in FY23-24. Sales volumes for the financial year improved two per cent YoY to 29.4Mt from 28.8Mt.
Building new capacity and boosting renewables
Among other highlights Dalmia Bharat noted the commissioning of 2.5Mta cement capacity at Lanka, Assam, and 0.5Mta in Rhotas, Bihar. Overall capacity now stands at 49.5Mta. It has also commissioned a 2.2MW captive solar plant at Lanka, boosting its overall renewable energy capacity to 267MW. The company pointed out that it has one of the lowest carbon footprints in the cement sector, with CO2 at 465kg/t.
Dalmia Bharat MD and CEO, Puneet Dalmia, said: “Having successfully achieved our milestone of cement capacity at 49.5Mta, we have commenced the next phase of expansion with the recently announced capacity addition of 6Mta catering mainly to new markets in western India. During the current year, while profitability remained subdued due to soft demand and weak pricing, I am confident to deliver profitable growth going forward on the back of stronger volumes, improved realisations and a consistent focus on cost leadership.”
