On consolidated basis
Quarter ended June 2022 compared
with Quarter ended June 2021.
Net sales (including other operating income) of Dalmia Bharat has increased
27.64% to Rs 3302 crore.
Operating profit margin has declined
from 27.72% to 17.84%, leading to 17.85% decline in operating profit to Rs
589.00 crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 14.91% to 13.21%. Employee cost
decreased from 6.71% to 5.96%. Other expenses rose from 52.11% to
63.05%. Power and Oil fuel cost rose from 18.94% to 28.65%.
Freight charges rose from 18.94% to 20.52%.
Other income fell 15.38% to Rs 22
crore. PBIDT fell 17.77% to Rs 611 crore. Provision for
interest fell 21.67% to Rs 47 crore.
PBDT fell 17.42% to Rs 564
crore. Provision for depreciation rose 5.05% to Rs 312
crore.
Profit before tax down 34.72% to Rs
252.00 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 64 crore, compared to
Rs 98 crore. Effective tax rate was 23.79% compared to 25.39%.
Minority interest decreased 18.18%
to Rs 9.00 crore. Net profit attributable to owners of the company
decreased 29.24% to Rs 196.00 crore.
Promoters’ stake was 55.90% as of 30
June 2022 ,compared to 55.97% as of 30 June 2021 .
. Per share face Value
remained same at Rs 2.00.
Promoters’ stake was 55.90% as of 31
March 2022 ,compared to 55.97% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Dalmia Bharat has increased
11.63% to Rs 11286 crore. Sales of Cement segment has gone up 11.63%
to Rs 11,262.00 crore (accounting for 98.31% of total sales). Sales
of Others segment has gone up 9.60% to Rs 194.00 crore (accounting for 1.69% of
total sales). Inter-segment sales rose Rs 156.00 crore to Rs 170.00
crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 20.74% to Rs 1,215.00
crore. PBIT of Cement segment fell 21.02% to Rs 1,195.00 crore
(accounting for 98.35% of total PBIT). PBIT of Others segment fell
0.00% to Rs 20.00 crore (accounting for 1.65% of total PBIT).
PBIT margin of Cement segment fell
from 15.00% to 10.61%. PBIT margin of Others segment fell from
11.30% to 10.31%. Overall PBIT margin fell from 14.93% to
10.61%.
Operating profit margin has declined
from 27.39% to 21.54%, leading to 12.21% decline in operating profit to Rs
2,431.00 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 14.67% to 13.85%. Purchase of
finished goods cost rose from 0.09% to 0.12%. Employee cost
decreased from 6.56% to 6.52%. Other expenses rose from 51.13% to
58.20%. Power and Oil fuel cost rose from 16.51% to 22.53%.
Freight charges rose from 20.63% to 20.64%. Loss on
forex transaction fell from 0.08% to 0.04%.
Other income fell 14.36% to Rs 155
crore. PBIDT fell 12.34% to Rs 2586 crore. Provision for
interest fell 33.11% to Rs 202 crore. Loan funds declined from Rs
3,839.00 crore as of 31 March 2021 to Rs 3,176.00 crore as of 31 March
2022. Inventories rose to Rs 945.00 crore as of 31 March 2022 from
Rs 760.00 crore as of 31 March 2021. Sundry debtors were higher at
Rs 673.00 crore as of 31 March 2022 compared to Rs 511.00 crore as of 31 March
2021. Cash and bank balance declined from Rs 247.00 crore as of 31
March 2021 to Rs 160.00 crore as of 31 March 2022. Investments rose
to Rs 5,704.00 crore as of 31 March 2022 from Rs 4,033.00 crore as of 31 March
2021 .
PBDT fell 9.97% to Rs 2384
crore. Provision for depreciation fell 1.12% to Rs 1236
crore. Fixed assets increased to Rs 11,681.00 crore as of 31 March
2022 from Rs 10,878.00 crore as of 31 March 2021. Intangible assets
declined from Rs 3,754.00 crore to Rs 3,374.00 crore.
Profit before tax down 17.88% to Rs
1,148.00 crore. Extraordinary items were increased to Rs -2.00
crore. Provision for tax was credit of Rs 14 crore, compared to
debit of Rs 178 crore. Effective tax rate was negative 1.22%
compared to 13.06%.
Minority interest increased 141.67%
to Rs 29.00 crore. Net profit attributable to owners of the company
decreased 3.15% to Rs 1,136.00 crore.
Equity capital stood at Rs 37.00
crore as of 31 March 2022 to Rs 37.00 crore as of 31 March 2021. Per
share face Value remained same at Rs 2.00.
Promoters’ stake was 55.90% as of 31
March 2022 ,compared to 55.97% as of 31 March 2021 .
Cash flow from operating activities
decreased to Rs 1,937.00 crore for year ended March 2022 from Rs 3,604.00 crore
for year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 1,769.00 crore, compared to Rs
1,035.00 crore during the year ended March 2021.
Operational Highlights:
Volume increased 27.3% YoY to 6.2 MnT
in Q1FY2023.
EBITDA/T stood at Rs. 941/T
Expansion:
Completed 2.0 MnT of Clinker
Debottlenecking.
Completed 1.1 MnT of Cement
Debottlenecking.
Added Renewable power capacity of 41.4
MW
Management Commentary:
Commenting on the year
gone by, Mr. Puneet Dalmia, Managing Director – Dalmia Bharat Limited, said, “While
we may be in the midst of global economic headwinds and trade turmoil, we are
cautiously optimistic with regards to the medium- & long-term growth of the
Indian Economy. We remain confident that the government’s push for capital
expenditure as well as constant focus on infrastructure development will
continue to boost cement demand.” He further added, “The continuous efforts and
resilience of our teams have enabled us to deliver yet again a good performance
on the back of strong volume growth and continuous cost leadership. We are committed
to delivering industry leading returns to our stakeholders through our
sustainable business model and a robust governance mechanism.”
Mr. Mahendra Singhi,
Managing Director and CEO – Dalmia Cement (Bharat) Limited said, “I am pleased
with our performance this quarter. Our sustained efforts on operational
efficiencies & cost rationalization have enabled us mitigate the adverse
impact of inflation and deliver lowest total cost of production. He also said
“Our capacity expansion projects are on track and we have added 2Mnt of Clinker
capacity and 1.1Mnt of Cement capacity and which takes our Cement
Manufacturing
installed capacity to 37.0Mnt. We remain firm on our Carbon Negative Roadmap and
during the quarter have installed 41.4 MW of Renewable Energy.”
| Dalmia Bharat : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 3,302.00 | 2,587.00 | 27.64 | 11,286.00 | 10,110.00 | 11.63 | | OPM (%) | 17.84 | 27.72 | -988 bps | 21.54 | 27.39 | -585 bps | | OP | 589.00 | 717.00 | -17.85 | 2,431.00 | 2,769.00 | -12.21 | | Other Inc. | 22.00 | 26.00 | -15.38 | 155.00 | 181.00 | -14.36 | | PBIDT | 611.00 | 743.00 | -17.77 | 2,586.00 | 2,950.00 | -12.34 | | Interest | 47.00 | 60.00 | -21.67 | 202.00 | 302.00 | -33.11 | | PBDT | 564.00 | 683.00 | -17.42 | 2,384.00 | 2,648.00 | -9.97 | | Depreciation | 312 | 297 | 5.05 | 1236 | 1250 | -1.12 | | PBT | 252.00 | 386.00 | -34.72 | 1148 | 1398 | -17.88 | | Share of Profit/(Loss) from Associates | 17 | 0 | - | 5 | -1 | LP | | PBT before EO | 269 | 386 | -30.31 | 1153 | 1397 | -17.47 | | EO Income | 0 | 0 | - | -2 | -34 | 94.12 | | PBT after EO | 269 | 386 | -30.31 | 1151 | 1363 | -15.55 | | Taxation | 64 | 98 | -34.69 | -14 | 178 | LP | | PAT | 205 | 288 | -28.82 | 1165 | 1185 | -1.69 | | Minority Interest (MI) | 9 | 11 | -18.18 | 29 | 12 | 141.67 | | Net profit | 196 | 277 | -29.24 | 1136 | 1173 | -3.15 | | P/(L) from discontinued operations net of tax | 0 | -50 | - | 8 | -2 | LP | | Net profit after discontinued operations | 196 | 227 | -13.66 | 1144 | 1171 | -2.31 | | EPS (Rs)* | 10.46 | 14.78 | -29.24 | 60.00 | 64.17 | -6.48 | | | * EPS is on current equity of Rs 37.47 crore, Face value of Rs 2, 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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