Dalmia Bharat Limited,a leading cement manufacturing company, reported its consolidated financial results for the quarter and full year ending March 31, 2022.
AZIR KHOBOR, New Delhi, May 10, 2022: Dalmia Bharat Limited, (BSE: 542216, NSE: DALBHARAT), a leading cement manufacturing company, reported its consolidated financial results for the quarter and full year ending March 31, 2022.
Commenting on the year gone by, Mr. Puneet Dalmia, Managing Director – Dalmia Bharat Limited, said, “With an objective to create a globally respected professional organization we have, during the year, undertaken several transformation measures from laying down a formal capital allocation framework, formalizing our growth target of 110-130Mnt, appointing Big five as Internal & Statutory auditors, to creating a formal risk management policy and framework amongst several other initiatives.” He further added, “Though the year witnessed unprecedented cost challenges and demand volatility, we have done exceedingly well in our growth and transformation journey. We remain excited about the tremendous opportunity ahead and the company is on a clear path of accelerated growth backed by sustainable business investments, strong Balance Sheet and an exceptionally dedicated team.”
Mr. Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited said, “Through proactive cost containment measures, our teams have successfully mitigated the adverse inflationary impact and delivered one of the lowest total cost per ton of cement alongside a volume growth in-line with the industry. The recent strong recovery in demand and prices across all our operating regions is highly encouraging. While the margins may continue to remain under pressure, we are undertaking proactive measures to retain our cost leadership and deliver sustainable earnings growth. We continue to be on track to reach capacity of 48.5 million ton by March ’24.
In line with Capital Allocation Framework, the Company has completed the restructuring of its Refractory Business.
To augment the long term raw material & fuel security, the company participated and won the bid for Brinda & Sisai Coal Block with extractable reserves of ~15 MnT.
The company has signed a MoU with FLSmidth A/S, a leading supplier of technology solutions and equipment for cement and mining processing industry. Both sides commit to contribute ideas, research and development for an industrial scale cement production facility in order to develop breakthrough innovations to significantly accelerate the development of sustainability in cement and construction industry.
The Board has recommended a dividend of Rs 5 per share subject to approval of shareholders in ensuing AGM.
Some of the Key Recognitions of the company are- DCBL and DBL were conferred with six awards in various categories of ESG by Apex India Foundation at Apex India Green Leaf Award 2021; Three units of the company – Lanka, Bengal Cement Works and Guwahati Cement Works – won the prestigious 20th Annual Green tech Safety India Awards 2021 for outstanding achievement in the “Safety Excellence” Category; The Procurement Team of Dalmia Cement (Bharat) Limited won the “Procurement Team of the Year Award” at 4th Procurement India Leadership forum & Awards organised by Institute of Supply Chain Management, Mumbai; Ariyalur Unit of Dalmia Cement (Bharat) Limited has been awarded as a Winner for “Green Building Material – Cement (Southern Region) at the 11th edition of Fly ash utilization Award organized by Mission Energy Foundation; Dalmia Bharat Foundation has been recognized as a Leader of Sustainable Change by The Economic Times; Ariyalur unit of the Company won a certificate of appreciation on “Smart Operations Category” at 1st FICCI Industry 4.0 Awards; and The Tribal Development Fund Project being implemented in Umrongso, Assam with the grant support of NABARD has been conferred with the Best TDF award by the NABARD Regional Office Assam.