Birla Corporation (BCL) has reported a growth of 127.59 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 193.34 crore in Q4 FY24 as against Rs 84.95 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 2,682.12 crore in Q4 FY24, a growth of 6.79 per cent from Rs 2,511.68 crore it recorded in the similar quarter last year.The board of directors have recommended dividend of Rs 10 per share (i.e. 100%) on 7,70,05,347 ordinaryshares for the financial year 2023-24.
The board has designated Aditya Saraogi, chief financial officer (Key Managerial Personnel) of the company as the group chief financial officer and Kalidas Pramanik, president (Sales & Logistic Operations), as the chief marketing officer, senior management personnel of the company with effect from May 4, 2024.
As on March 31, 2024, its net worth stood at Rs 5,632.65 crore, debt-equity ratio was 0.67, current liability ratio was 0.32, total debts to total assets was 0.26, operating margin was 18.12% and net profit margin was 7.42%.
During the year ended 31st March, 2024, RCCPL, wholly-owned subsidiary of the company, has acquired 100% equity share capital of SIMPL Mining & Infrastructure (formerly known as Sanghi Infrastructure M.P.).
The board of RCCPL has approved an investment of Rs 425 crore to augment the capacity of its Kundanganj unit by 1.4 million tons within two years.
The company’s cement division achieved a capacity utilization of 97% for the March quarter.
Birla Corporation is rolling out its next phase of capacity addition with the aim of increasing cement production to 25 million tons by fiscal 2026-27. The company will continue to further ramp up Mukutban operations with special focus on the Maharashtra market to avail tax incentives. We will maintain our thrust on increasing share of premium products in Maharashtra, Gujarat and Rajasthan where we have headroom for growth. Simultaneously, cost reduction measures under Project Shikhar and Project Unnati and other initiatives will be accorded highest priority, the company said.
The company’s power and fuel costs per ton of cement production fell 27% in the March quarter and 23.8% in the full year. In the March quarter, green power accounted for 25.37% of the total power consumed, against 20.02% in the same period last year. For the full year, renewables accounted for 24.15% of power consumed versus 21.7% in the previous year.
The company’s cement sales by volume for the March quarter at 4.85 million tons, up 9.4% from 4.4 million tons in the same period a year ago, was a record high. This resulted in capacity utilization of 97% for the March quarter compared to 89% in the same period a year ago. For the full year, the company’s capacity utilization was at 89% against 81% in the previous year.