India Cements FY21 profit rises to Rs 222 cr; EBIDTA up 35%
India Cements reported a consolidated profit of Rs 43.97 crore for Q4 on the back of strong sales, while EBIDTA stood at Rs 213 crore, which was more than double the previous year
- May 24, 2021,
- Updated May 24, 2021 1:27 PM IST
India Cements Ltd has reported FY 2020-2021 profit at Rs 222 crore compared Rs 36 crore loss in the previous fiscal year. State-owned firm's EBIDTA stood at Rs 830 crore, which is up 35 per cent when compared with Rs 613 crore in the previous year.
India Cements has reported a consolidated net profit of Rs 43.97 crore for the fourth quarter ended March 2021, on the back of strong sales, while its EBIDTA stood at Rs 213 crore, which was more than double the previous year figure of Rs 85 crore. Its revenue rose to Rs 1,449.6 crore, while margin stood at 13. 8 per cent in Q4. The revenue and margin in Q4 of FY20 stood at Rs 1,152 crore and 5.9 per cent, respectively.
The company -- which has re-appointed N Srinivasan as its Managing Director for five years with effect from May 26, 2021, subject to the approval of shareholders -- had posted a consolidated net loss of Rs 11.76 crore in the same quarter previous fiscal, India Cements said in a regulatory filing.
There was optimism prevailing overall in the sectors, with core sectors growing at a significant 6.8 per cent for March 2021, the company said in a statement. "Cement industry was also not lagging behind and showed significant uptrend in production and prices of cement. While the degrowth in cement production up to December'20 was over 20 per cent on an all India basis, the same has now come down to a 12 per cent for the year implying better growth in the last quarter when compared with previous year," the company said, adding the cement production during March 2021 was higher by more than 32 per cent on an all India basis.
It said all optimism and the expectations of further growth are jolted by the onslaught of 2nd Covid-19 wave, which has forced states to bring back the restrictions and lockdowns. "The impact of these lockdowns currently in force are likely to have a significant effect on the economy," it said.
The company could achieve a total volume of clinker and cement of 89.02 lakh tonnes (110.22 lakh tonnes), a drop of 19 per cent, in FY21, while the net plant realisation was up by 12 per cent when compared with the previous year. The overall volume in Q4 was 29.90 lakh tonnes, an increase of 13 per cent over 26.47 lakh tonnes, including clinker, for the same quarter of last year.
In its outlook for the next fiscal year, India Cements said if the promised capex on infra, roads, metro rails, including in the South take place, there is scope for higher demand for cement.
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India Cements Ltd has reported FY 2020-2021 profit at Rs 222 crore compared Rs 36 crore loss in the previous fiscal year. State-owned firm's EBIDTA stood at Rs 830 crore, which is up 35 per cent when compared with Rs 613 crore in the previous year.
India Cements has reported a consolidated net profit of Rs 43.97 crore for the fourth quarter ended March 2021, on the back of strong sales, while its EBIDTA stood at Rs 213 crore, which was more than double the previous year figure of Rs 85 crore. Its revenue rose to Rs 1,449.6 crore, while margin stood at 13. 8 per cent in Q4. The revenue and margin in Q4 of FY20 stood at Rs 1,152 crore and 5.9 per cent, respectively.
The company -- which has re-appointed N Srinivasan as its Managing Director for five years with effect from May 26, 2021, subject to the approval of shareholders -- had posted a consolidated net loss of Rs 11.76 crore in the same quarter previous fiscal, India Cements said in a regulatory filing.
There was optimism prevailing overall in the sectors, with core sectors growing at a significant 6.8 per cent for March 2021, the company said in a statement. "Cement industry was also not lagging behind and showed significant uptrend in production and prices of cement. While the degrowth in cement production up to December'20 was over 20 per cent on an all India basis, the same has now come down to a 12 per cent for the year implying better growth in the last quarter when compared with previous year," the company said, adding the cement production during March 2021 was higher by more than 32 per cent on an all India basis.
It said all optimism and the expectations of further growth are jolted by the onslaught of 2nd Covid-19 wave, which has forced states to bring back the restrictions and lockdowns. "The impact of these lockdowns currently in force are likely to have a significant effect on the economy," it said.
The company could achieve a total volume of clinker and cement of 89.02 lakh tonnes (110.22 lakh tonnes), a drop of 19 per cent, in FY21, while the net plant realisation was up by 12 per cent when compared with the previous year. The overall volume in Q4 was 29.90 lakh tonnes, an increase of 13 per cent over 26.47 lakh tonnes, including clinker, for the same quarter of last year.
In its outlook for the next fiscal year, India Cements said if the promised capex on infra, roads, metro rails, including in the South take place, there is scope for higher demand for cement.
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