During Q1FY24, the sale volume stood at 4.30 million tons, compared to 3.34 million tons in the Q1FY23 with a growth of 29%, the company said that but for the non-availability of sand in Kerala, supply disruption due to rail accident in Orissa and West Bengal and active monsoon in NE, the growth in sale volume could have been better for the current quarter.

EBIDTA for Q1FY24 is Rs 349 crore as against Rs 308 crore during Q1FY23 with growth of 14%. EBIDTA margin was affected due to elevated fuel prices and weak cement prices in the markets where the company operate.

Blended EBIDTA per ton for the Q1FY24 is Rs 812 as against Rs 921 during Q1FY23.

Interest cost for the Q1 FY24 is Rs 93 crore, was up 97.87% as against Rs 47 crore during the Q1FY23. Depreciation for the Q1FY24 is Rs 148 crore, increased 39.62% as against Rs 106 crore during the Q1FY23, The increase of interest & depreciation is due to commissioning of Kolimigundla integrated unit, RR Nagar Line-3 and Dry Mortar Plants in RR Nagar and Salem.

In Kolimigundla, balance 3 MW WHRS will be commissioned in Aug-23, and TPP of 18 MW and railway siding will be commissioned in 2023-24. With regard to expansion of capacity of its dry mix, products in AP & Orissa will be commissioned during 2023-24.

The company has incurred Rs 284 crore during Q1FY24 for the said capacity expansion including regular capex.

The net debt as on 30 June 2023 was Rs 4,406 crore, out of which Rs 479 crore is for working capital. The average cost of interest-bearing borrowings for the Q1FY24 is increased to 7.95% from 6.66% in Q1 FY23.

The Ramco Cements (TRCL) is a reputed cement manufacturer in India and markets its products under the Ramco brand. The company also has two modest-scale subsidiaries, Ramco Windfarms (with a 39-MW windmill capacity) and Ramco Industrial and Technology Services (which is into transport services, manpower services and IT).

The scrip rose 0.13% to Rs 875.15 on the BSE.