Delivering volume growth of 18.5% y/y in Q4 2024

Financial Highlights for the quarter and year ended 31 March 2024

Commenting on the performance, Mr. Puneet Dalmia, Managing Director & CEO – Dalmia Bharat Limited, said, “The cement sector has a pivotal role in India's growth story and infrastructure; housing and private CAPEX will drive the demand growth for the next decade and beyond. During FY24 we delivered a volume growth of 11.8% at 28.8 Mnt and EBITDA growth of 13.4% at Rs. 26.39 billion. We will continue to work on gaining market share and improving realisations while deepening the cost leadership. I remain excited about the tremendous opportunity ahead and believe that we are on a clear path of accelerated growth backed by sustainable business investments, strong Balance Sheet and a dedicated team.”

Mr. Dharmender Tuteja, Chief Financial Officer – Dalmia Bharat Limited, said “We bounced back and delivered an industry-leading volume growth of 18.5% y/y during the quarter. However, unexpected drop in cement prices led to EBITDA erosion during the quarter with EBITDA margin declining from 18.1% in Q4’23 to 15.2% in the current quarter. During the ensuing year, we will continue to focus on our levers of long-term cost savings including renewable energy, operationalising our captive coal mines, digitisation of supply chain and invest in our brand.”

Key updates for the quarter

• Dalmia Cement elevates its commitment to home builders with new brand positioning as the Roof Column Foundation (RCF) Expert; onboards Ranveer Singh as the Brand Ambassador.
• In line with the commitment towards RE100 by 2030 & Carbon Negative by 2040 Dalmia Cement (Bharat) Limited has entered into Share Purchase Agreement, Deed of Accession and Power Purchase Agreement, to acquire 18.13% of equity share capital of O2 Renewable Energy V Private Limited, in one or more tranches to source wind power as a captive consumer for a capacity up to 11 MW.
• The Board has recommended a final dividend of Rs. 5 per share (250%) of face value of Rs. 2 per share for FY 2023-24 subject to approval of shareholders in ensuing AGM.

Key recognitions during the quarter

• Dalmia Cement won the Esteemed CII CAP 2.0o Award for Exemplary Climate Resilience.
• The GEEF Global Safety Award 2024 was bestowed to Rajgangpur unit in Platinum Category for outstanding contributions to safety within the Cement Industry.
• Kadapa unit won the Gold Award in the Industrial Safety Excellence Category by CII Andhra Pradesh at the CII Industrial Safety Excellence Award 2023.

Read the article online at: https://www.worldcement.com/indian-subcontinent/26042024/delivering-volume-growth-of-185-yy-in-q424/