On consolidated basis
Quarter ended June 2022 compared
with Quarter ended June 2021.
Net sales (including other operating income) of The Ramco Cements has increased
44.12% to Rs 1779.41 crore.
Operating profit margin has declined
from 29.68% to 17.03%, leading to 17.29% decline in operating profit to Rs
303.11 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 14.03% to 15.89%. Employee cost decreased
from 8.67% to 6.27%. Other expenses rose from 48.28% to 61.01%.
Power and Oil fuel cost rose from 17.47% to 29.11%.
Freight charges rose from 18.19% to 19.97%.
Other income rose 17.33% to Rs 6.23
crore. PBIDT fell 16.79% to Rs 309.34 crore. Provision
for interest rose 95.39% to Rs 47.48 crore.
PBDT fell 24.64% to Rs 261.86
crore. Provision for depreciation rose 11.33% to Rs 106.81
crore.
Profit before tax down 38.36% to Rs
155.05 crore. Provision for tax was expense of Rs 41.78 crore,
compared to Rs 81.51 crore. Effective tax rate was 27.67% compared
to 32.19%.
Minority interest decreased 4.55% to
Rs 0.21 crore. Net profit attributable to owners of the company
decreased 36.41% to Rs 109.02 crore.
Promoters’ stake was 42.33% as of 30
June 2022 ,compared to 42.54% as of 30 June 2021 . Promoters pledged
stake was 20.58% as of 30 June 2022 ,compared to 12.22% as of 30 June 2021
.
Promoters’ stake was 42.54% as of 30
June 2021,compared to 42.66% as of 30 June 2020 . Promoters pledged
stake was 12.22% as of 30 June 2021 ,compared to 1.97% as of 30 June 2020
.
Full year results analysis.
Net sales (including other operating income) of The Ramco Cements has increased
13.47% to Rs 6003.69 crore.
Operating profit margin has declined
from 29.43% to 21.49%, leading to 17.16% decline in operating profit to Rs
1,290.07 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 15.61% to 14.92%. Employee cost
decreased from 7.98% to 7.24%. Other expenses rose from 46.71% to
56.37%. Power and Oil fuel cost rose from 15.15% to 23.11%.
Freight charges rose from 19.56% to 20.20%.
Other income fell 7.80% to Rs 28
crore. PBIDT fell 16.98% to Rs 1318.07 crore. Provision
for interest rose 28.28% to Rs 112.4 crore. Loan funds rose to Rs
3,949.67 crore as of 31 March 2022 from Rs 3,109.78 crore as of 31 March
2021. Inventories rose to Rs 834.47 crore as of 31 March 2022 from
Rs 599.34 crore as of 31 March 2021. Sundry debtors were lower at Rs
350.71 crore as of 31 March 2022 compared to Rs 375.92 crore as of 31 March
2021. Cash and bank balance rose to Rs 178.48 crore as of 31 March
2022 from Rs 143.83 crore as of 31 March 2021. Investments declined
from Rs 306.97 crore as of 31 March 2021 to Rs 297.09 crore as of 31 March
2022.
PBDT fell 19.63% to Rs 1205.67
crore. Provision for depreciation rose 12.81% to Rs 402.23
crore. Fixed assets increased to Rs 10,697.98 crore as of 31 March
2022 from Rs 9,246.55 crore as of 31 March 2021. Intangible assets
increased from Rs 86.98 crore to Rs 108.81 crore.
Profit before tax down 29.74% to Rs
803.44 crore. Provision for tax was credit of Rs 89.41 crore,
compared to debit of Rs 379.92 crore. Effective tax rate was
negative 11.28% compared to 32.63%.
Minority interest decreased 31.88%
to Rs 0.47 crore. Net profit attributable to owners of the company
increased 12.49% to Rs 881.48 crore.
Equity capital increased from Rs
23.59 crore as of 31 March 2021 to Rs 23.63 crore as of 31 March
2022. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 42.33% as of 31
March 2022 ,compared to 42.54% as of 31 March 2021 . Promoters
pledged stake was 20.63% as of 31 March 2022 ,compared to 13.01% as of 31 March
2021 .
Cash flow from operating activities
decreased to Rs 1,134.89 crore for year ended March 2022 from Rs 1,892.36 crore
for year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 1,816.58 crore, compared to Rs
1,767.01 crore during the year ended March 2021.
Operational highlights:
Sales volume in Q1FY2023 stood at
3.31 million tons compared to 2.14 million ton in Q1FY2022 a growth of 55%.
During
Q1 FY2023, the windfarms have generated 7.71 cr units as against 7.01 cr units
in the Q1FY2022 PY, with an increase of 10%.
Expansion:
The
trial production from clinkering plant in Kurnool is successful. With this, the
clinkering capacity has gone up to 13.65 MTPA.
The
cement grinding facility, 6 MW of WHRS in Kurnool will be commissioned in Aug
2022. With this, the installed capacity of cement will go past 20 MTPA. Balance
6.15 MW of WHRS will be commissioned in Mar-23.
The
modernization of RR Nagar plant along with lime stone beneficiation plant will
be commissioned in Mar-23.
The
company also has proposed to expand the capacity of its dry mix products in
Tamilnadu(TN), Orissa and Andhra Pradesh (AP) to produce high value products
viz. water proofing, repair products, flooring screeds including liquid
products besides other regular dry mix products. The two units in TN will be
commissioned in FY23 and the remaining two units in AP & Orissa will be
commissioned in FY24.
CAPEX:
The
company has incurred CAPEX of Rs 482 cr in QFY2023.
| The Ramco Cements : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,779.41 | 1,234.68 | 44.12 | 6,003.69 | 5,291.00 | 13.47 | | OPM (%) | 17.03 | 29.68 | -1,265 bps | 21.49 | 29.43 | -795 bps | | OP | 303.11 | 366.46 | -17.29 | 1,290.07 | 1,557.31 | -17.16 | | Other Inc. | 6.23 | 5.31 | 17.33 | 28.00 | 30.37 | -7.80 | | PBIDT | 309.34 | 371.77 | -16.79 | 1,318.07 | 1,587.68 | -16.98 | | Interest | 47.48 | 24.30 | 95.39 | 112.40 | 87.62 | 28.28 | | PBDT | 261.86 | 347.47 | -24.64 | 1,205.67 | 1,500.06 | -19.63 | | Depreciation | 106.81 | 95.94 | 11.33 | 402.23 | 356.56 | 12.81 | | PBT | 155.05 | 251.53 | -38.36 | 803.44 | 1143.5 | -29.74 | | Share of Profit/(Loss) from Associates | -4.04 | 1.65 | PL | -10.9 | 20.75 | PL | | PBT before EO | 151.01 | 253.18 | -40.35 | 792.54 | 1164.25 | -31.93 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 151.01 | 253.18 | -40.35 | 792.54 | 1164.25 | -31.93 | | Taxation | 41.78 | 81.51 | -48.74 | -89.41 | 379.92 | LP | | PAT | 109.23 | 171.67 | -36.37 | 881.95 | 784.33 | 12.45 | | Minority Interest (MI) | 0.21 | 0.22 | -4.55 | 0.47 | 0.69 | -31.88 | | Net profit | 109.02 | 171.45 | -36.41 | 881.48 | 783.64 | 12.49 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 109.02 | 171.45 | -36.41 | 881.48 | 783.64 | 12.49 | | EPS (Rs)* | 4.61 | 7.26 | -36.41 | 33.52 | 33.16 | 1.08 | | | * EPS is on current equity of Rs 23.63 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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