Revenue from operations was at Rs 589.89 crore in Q1 FY23 as against Rs 555.94 crore posted during the same period in the previous year, registering a growth of 6.1%. The increase in revenue was driven by an increase in prices by 13% and partially offset by a decrease in volume by 6%.

Sales volumes dropped 6.1% to 1,112 kilo tonne (KT) in Q1 FY22 as against 1,184 KT in Q1 FY22.

The company's profit before tax slumped 33.26% to Rs 69.31 crore in Q1 FY23 as against Rs 103.85 crore recorded in the same period a year ago. Total expense rose 14.75% to Rs 530.84 in Q1 FY23 over Q1 FY22.

EBITDA declined 27.5% to Rs 95.1 crore in Q1 FY23 as against Rs 131.1 crore reported in Q1 FY22. EBITDA margin decreased to 16.1% in Q1 FY23 as against 23.6% in Q1 FY22.

On a per tonne basis, total operating cost including freight increased by 24% yoy due to an unprecedented increase in coal, petcoke, diesel and packaging costs. The increase in operating cost was partially offset by an increase in prices by 13% resulting in EBITDA of Rs 855 per tonne, a decrease of 23% YoY from Rs 1,107 per tone.

The company started receiving solar power under its long-term power purchase agreement for the Jhansi plant. The contracted capacity is 15 megawatt and the company is expected to receive 22 gigawatt hours of solar power annually. As a result of an increase in green power across various plants, the Company's overall share of green power increased to 30%.

As at 30 June 2022, gross cash and bank balance stood at Rs 458.4 crore as against total borrowings Rs 234.6 crore, i.e. net cash balance oft 223.8 crore.

HeidelbergCement India is a subsidiary of HCAG, Germany. The company operates in central India in Damoh (Madhya Pradesh) and Jhansi (Uttar Pradesh) and in southern India in Ammasandra (Karnataka).

Shares of HeidelbergCement India were down 0.03% to Rs 177 on the BSE.