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Dalmia Bharat’s net profit dips 47.37% in Q4 FY24

 Dalmia Bharat, a cement manufacturing company, has reported a dip of 47.27 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 320 crore in Q4 FY24 as against Rs 608 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 4,427 crore in Q4 FY24, a growth of 11.99 per cent from Rs 3,953 crore it recorded in the similar quarter last year.Puneet Dalmia, managing director & CEO of the company said, “During FY24 we delivered a volume growth of 11.8% at 28.8Mnt and EBITDA growth of 13.4% at Rs 2,639 crore.”

The board of directors recommended final dividend of Rs 5 per equity share of face value of Rs 2 each fully paid up (i.e. 250%) for the financial year ended March 31, 2024.

During the current quarter, the group has enhanced clinkerisation capacity of Dalmiapuram Plant, Tamil Nadu by 0.2 MTPA. The group’s installed cement manufacturing capacity as on March 31, 2024 stands at 44.6 MTPA and clinkerisation capacity at 22.6 MTPA.

Dharmender Tuteja, chief financial officer of the company said, “We bounced back and delivered an industry-leading volume growth of 18.5% YoY 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 current quarter. During the ensuing year, we will continue to focus on our levers of long-term cost savings including renewable energy, operationalizing our captive coal mines, digitization of supply chain and invest in our brand.”

In FY24, its volume increased 11.8% year-on-year to 28.8 MnT, installed cement capacity increased by 15.6% year-on-year to 44.6 MnT and net debt/EBITDA stood at 0.18x.

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