Dalmia Bharat Q3 profit declines 59.2% to Rs 73 cr; Revenue at Rs 2,731 crore
New Delhi, January 28, 2022: Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter ending December 31, 2021.
- Highlights for the Quarter ended December 31, 2021
|(Figures in Rs. Cr.)|
|Particulars (Rs. Cr)||Q3FY22||Q3FY21||9MFY22||9MFY21|
|Sales Volume (MnT)||5.7||5.8||15.6||14.3|
|Income from Operations||2,731||2,737||7,895||6,951|
|Profit Before Tax||93||311||786||977|
|Profit After Tax||73||179||575||601|
|PAT Margin (%)||2.7%||6.5%||7.3%||8.6%|
|Net Debt to EBITDA (x)||(0.64)||0.56||(0.64)||0.56|
*Includes both continuing and discontinued operations
Commenting on the results, Mr. Puneet Dalmia, Managing Director – Dalmia Bharat Limited, said,“The industry witnessed a difficult quarter with unprecedented cost escalations coupled with a weak demand scenario. However, we believe that the peak of costs is behind us and both the demand and prices are showing some strength.” He further added, “With recent economic data suggesting recovery in macro indicators, I am excited about the tremendous opportunity ahead. We are pursuing our growth ambitions conscientiously and are making investmentsto deliver sustainable and profitable growth while ensuring consistency and predictability of our earnings.”
Mr. Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited said, “Inspite of a tough quarter, we have delivered sales volume in line with the industry. The margins, during the quarter, were impacted due to a significant inflation in the energy prices and market weakness in core regions of our operation. However, beginning mid-Dec things have started to look good.To mitigate impact of external exigencies, we are working to further strengthen our operational efficiencies and explore avenues of cost rationalizations.”
- In line with Capital Allocation Framework,the Company has completed Sale of Hippo Stores (the retail venture) on 31st Dec, 2021 by way of slump sale to Hippostores Technology Pvt. Ltd., a promoter group company for a consideration of Rs. 155cr.
- To spearhead its journey towards the goal of becoming Carbon Negative by 2040, the Company has appointed Dr. Arvind Madhukar Bodhankar as ESG Head and Chief Risk Officer
- In line with the vision to build a Pan India company, the Company has commercialized its 2.9Mnt Murli Plant in Maharashtra which marks the beginning of its manufacturing presence in Western India.
- First company in cement sector to receive accreditations by two prominent green rating systems – “GRIHA” and CII –IGBC.
- First cement company in India to receive a green accreditation from the Green Product Rating for Integrated Habitat Assessment (GRIHA) council.
- Awarded the prestigious GreenPro Ecolabelling Certificate by the Indian Green Building Council (IGBC), a part of the Confederation of Indian Industries (CII).
- Dalmia Cement Won following Multiple Apex Green Leaf Awards
- In corporate category for Sustainability in Cement Sector
- For Environment Excellence bagged by Company’s Rajgangpur unit
- Ministry of Mines(GOI) awarded the Belgaum Mines with 5 Star Award in Sustainability
- Dragons of Asia Awards 2021(Bronze) to Dalmia Delight, company’s dealer loyalty program
About Dalmia Bharat:
Founded in 1939, Dalmia Bharat Limited (DBL) (BSE/NSE Symbol: DALBHARAT) is one of India’s pioneering cement companies headquartered in New Delhi. With a growing capacity, currently pegged at 35.9 MnT, Dalmia Bharat Limited is the fourth-largest cement manufacturing company in India by installed capacity. Spread across 10 states and 14 manufacturing units, the Company is a category leader in super-speciality cement used for oil well, railway sleepers and airstrips and is the country’s largest producer of Portland Slag Cement (PSC). Dalmia Cement (Bharat) Limited, a subsidiary of Dalmia Bharat Limited, prides itself at having one of the lowest carbon footprint in the cement world globally. It is the first cement company to commit to RE100, EP100 & EV100 (first triple joiner) – showing real business leadership in the clean energy transition by taking a joined-up approach.