Capitalising on a positive outlook

Financial Highlights for the Quarter and half year ended September 30, 2023

Commenting on the quarter gone by, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “We see a multi-year strong cement demand trend continuing, as India is undergoing a large-scale metamorphosis. We were one of the first ones to foresee this upcycle and started building our capacity ahead of time. In the last 3.5 years, we have added ~17.2 million t cement capacity, which is ~65% growth over FY20 capacity. In line with our vision to reach 110 – 130 million t by 2031, we are continuing to make consistent strides in that direction and capitalise upon the huge opportunity ahead of us”.

Mr. Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited said, “With the reduction in fuel prices, increased usage of Renewable power and improvement in KPIs, we were able to deliver 55% YoY improvement in our EBITDA, which stands at Rs 589 Cr. During the first half of the year, we commissioned 5.1 million t of cement and 0.5 million t clinker capacity in the East and South region”. He further mentioned, “We continue to demonstrate our commitment towards the environment as we have further brought down our carbon footprint to 456 kg CO₂ per t of cement which is one of the lowest in the global cement sector”.

Key updates for the quarter

• Commenced commercial production from the new Greenfield Cement Grinding unit at Sattur, Tamil Nadu having manufacturing capacity of 2.0 million t.
• Commenced commercial production of clinker 0.5 million t at Ariyalur, Tamil Nadu increasing total clinker capacity to 22.2 million t.
• The Board of Dalmia Cement (Bharat) Limited, a material wholly owned subsidiary of the Company, has recommended Mr. Puneet Dalmia as CEO & MD of the company with effect from December 8, 2023 with the culmination of Mr. Mahendra Singhi’s decade long successful tenure as its MD & CEO. Further, Mr. Mahendra Singhi will continue as a Director and Strategic Advisor to MD & CEO for a smooth transition and harness his experience in the transformational phase of the DCBL’s journey.
• The Board of Dalmia Cement (Bharat) Limited, a material wholly owned subsidiary of the Company, at its meeting held on 14th October 2023 has approved the proposal to increase cement grinding capacity by 0.5 million t at Rohtas Cement Works, Bihar at an estimated cost of Rs 91 Cr, which is expected to be completed in FY25.
• In line with the Capital Allocation framework, the company has declared an interim dividend of Rs 4 per share.

Key Recognitions during the quarter

• Six of our plants bagged total 8 awards under the Excellent Energy Efficient category at the 24th CII National Energy Award 2023.
• Two of our plants also won at the Manufacturing Today Conference & Awards 2023.
• Dalmiapuram unit won the CII SR Waste Management Competition 2023 for Best Solid Waste Management Award.
• Our ‘Home Maker’ digital campaign won Silver for Excellence in Omni-channel Marketing at the Datamatix Summit Awards by Adgully.
• Won the Best Supply Chain Company Award at the 15th ELSC Leadership Awards 2023.

Read the article online at: https://www.worldcement.com/indian-subcontinent/16102023/capitalising-on-a-positive-outlook/