Dalmia Bharat Consistently Growing Ahead of the Industry, Announces it's Financial Results

NEW DELHI, February 8, 2018 /PRNewswire/ --

Dalmia Bharat Limited today announced its unaudited consolidated financial results for the Quarter and nine months ended December 31, 2017.

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    Particulars (Rs. In Cr.)     Q3FY17 Q3FY18 Variance  9MFY17  9MFY18  Variance
    Sales Volume (in MnT)          3.56   4.15      16%   10.75   11.79       10%
    Total Income from Operations  1,722  2,091      21%   5,202   6,217       20%
    EBITDA                          415    455      10%   1,345   1,452        8%
    Cash Profit                     272    363      34%     888   1,114       26%
    Profit Before Tax                83    186     124%     348     602       73%
    Profit After Tax                 40    118     196%     114     353      209%

    EBITDA (Rs./Tonne)            1,179  1,076     (9%)   1,257   1,229      (2%)

    EBITDA Margin                 24.1%  21.7% (233 bps)  25.8%   24.3% (152 bps)

Strategic Highlights: 

  • Scheme of Arrangement and Amalgamation of DBL and OCL has been approved with 100% votes casted in favour of the proposal.
  • We have been looking at few strategic acquisitions being referred to NCLT under Insolvency and Bankruptcy Code. Following are the assets wherein the acquisition process is on:

      - Committee of Creditors has recommended our resolution plan for revival of Murli Industries Limited, Maharashtra (3 MnT) to National Company Law Tribunal (NCLT).

      - NCLT, Kolkata has approved our resolution plan for revival of Kalyanpur Cements Limited, Bihar of 1.1 MnT of cement capacity

      - Proposed acquisitions would help us to consolidate our market presence in Maharashtra and Bihar.

  • The Company has paid down debt of Rs. 228 crore during the quarter and Rs. 737 crore for nine months ended 31st December, 2017. Consequently, Net Debt to EBITDA reduced from 2.2x to 2.0x on QoQ basis.

Financial Performance: 

Our focused marketing efforts have been helping us to gain market share in our serving markets. During the quarter, our volumes grew by 16% on YoY basis and 14% on QoQ basis. Variable cost on per ton basis was up 21% on YoY basis due to increased petcoke and slag costs. The same has been partly offset by absorption of fixed costs due to improved sales volume. Our fixed cost on per ton basis has declined by 12% on YoY basis.

Also, our freight costs have remained flat on YoY basis despite rising diesel costs. This has been made possible on account of benefits arising from focused attention towards digitization and GST implementation, leading to reduced number of depots.

Outlook 

We are optimistic from medium and long term view on cement demand. Improved macro indicators for the economy, significant growth in public spending coupled with focused execution plans supports our view. Structural changes initiated by the Central Government and plans outlaid by development focused state governments are expected to spur cement demand growth. Thrust on affordable housing and infrastructure creation expects to now witness faster execution through higher budgetary allocation granted by the Government.

We are committed to create value for all our stakeholders through transparent governance policies, cost optimization and brand equity.

About Dalmia Bharat Group

Dalmia Bharat Group is a leading national player in India's core manufacturing sector since 1939. With a turnover of over 10,000 crore it has a leadership position in Cement, Sugar, Refractories. A leader in specialty cements and the country's largest producer of slag cement, Dalmia Bharat is the world's greenest cement company. And a leader in Sustainability best practices set to global benchmarks. In generic sugar, the group caters to several marquee brands. It has an enduring and growing customer base in refractories.

Media Contact:
Pooja Bharadwaj
bharadwaj.pooja@dalmiabharat.com
+91-9560166999
Asst. General Manager
Dalmia Bharat Limited

SOURCE Dalmia Bharat Limited



 

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