On consolidated basis
Quarter ended September 2022
compared with Quarter ended September 2021.
Net sales (including other operating income) of The Ramco Cements has increased
19.34% to Rs 1793.74 crore.
Operating profit margin has declined
from 26.60% to 10.47%, leading to 53.05% decline in operating profit to Rs
187.72 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 13.68% to 15.52%. Employee cost
decreased from 7.65% to 6.55%. Other expenses rose from 51.90% to
67.53%. Power and Oil fuel cost rose from 19.17% to 36.94%.
Freight charges fell from 20.11% to 19.29%.
Other income fell 4.85% to Rs 6.87
crore. PBIDT fell 52.19% to Rs 194.59 crore. Provision
for interest rose 87.24% to Rs 55.05 crore. Loan funds rose to Rs
4,840.99 crore as of 30 September 2022 from Rs 3,570.44 crore as of 30
September 2021. Inventories rose to Rs 960.12 crore as of 30
September 2022 from Rs 663.98 crore as of 30 September 2021. Sundry
debtors were higher at Rs 476.11 crore as of 30 September 2022 compared to Rs
410.98 crore as of 30 September 2021. Cash and bank balance rose to
Rs 81.50 crore as of 30 September 2022 from Rs 76.38 crore as of 30 September
2021. Investments declined from Rs 308.88 crore as of 30 September
2021 to Rs 286.31 crore as of 30 September 2022.
PBDT fell 63.05% to Rs 139.54
crore. Provision for depreciation rose 23.37% to Rs 121.99
crore. Fixed assets increased to Rs 11,453.42 crore as of 30
September 2022 from Rs 9,925.81 crore as of 30 September
2021. Intangible assets increased from Rs 100.53 crore to Rs 125.50
crore.
Profit before tax down 93.70% to Rs 17.55
crore. Share of profit/loss was 262.13% lower at Rs -8.51
crore. Provision for tax was debit of Rs 5.33 crore, compared to
credit of Rs 240.39 crore. Effective tax rate was 58.96% compared to
negative 86.98%.
Minority interest decreased 32.26%
to Rs 0.63 crore. Net profit attributable to owners of the company
decreased 99.40% to Rs 3.08 crore.
Equity capital increased from Rs
23.60 crore as of 30 September 2021 to Rs 23.63 crore as of 30 September
2022. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 42.30% as of 30
September 2022 ,compared to 42.52% as of 30 September 2021
. Promoters pledged stake was 21.93% as of 30 September 2022
,compared to 13.76% as of 30 September 2021 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of The Ramco Cements has increased
30.51% to Rs 3573.15 crore.
Operating profit margin has declined
from 27.99% to 13.74%, leading to 35.94% decline in operating profit to Rs
490.83 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 13.84% to 15.70%. Employee cost
decreased from 8.12% to 6.41%. Other expenses rose from 50.24% to
64.27%. Power and Oil fuel cost rose from 18.39% to 33.03%.
Freight charges rose from 19.23% to 19.63%.
Other income rose 4.55% to Rs 13.1
crore. PBIDT fell 35.29% to Rs 503.93 crore. Provision
for interest rose 90.93% to Rs 102.53 crore. Loan funds rose to Rs
4,840.99 crore as of 30 September 2022 from Rs 3,570.44 crore as of 30 September
2021. Inventories rose to Rs 960.12 crore as of 30 September 2022
from Rs 663.98 crore as of 30 September 2021. Sundry debtors were
higher at Rs 476.11 crore as of 30 September 2022 compared to Rs 410.98 crore
as of 30 September 2021. Cash and bank balance rose to Rs 81.50
crore as of 30 September 2022 from Rs 76.38 crore as of 30 September
2021. Investments declined from Rs 308.88 crore as of 30 September
2021 to Rs 286.31 crore as of 30 September 2022.
PBDT fell 44.64% to Rs 401.4
crore. Provision for depreciation rose 17.44% to Rs 228.8
crore. Fixed assets increased to Rs 11,453.42 crore as of 30
September 2022 from Rs 9,925.81 crore as of 30 September
2021. Intangible assets increased from Rs 100.53 crore to Rs 125.50
crore.
Profit before tax down 67.45% to Rs
172.60 crore. Share of profit/loss was 1,692.86% lower at Rs -12.55
crore. Provision for tax was debit of Rs 47.11 crore, compared to
credit of Rs 158.88 crore. Effective tax rate was 29.43% compared to
negative 30.00%.
Minority interest decreased 26.96%
to Rs 0.84 crore. Net profit attributable to owners of the company
decreased 83.69% to Rs 112.10 crore.
Equity capital increased from Rs
23.60 crore as of 30 September 2021 to Rs 23.63 crore as of 30 September
2022. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 42.30% as of 30
September 2022 ,compared to 42.52% as of 30 September 2021
. Promoters pledged stake was 21.93% as of 30 September 2022
,compared to 13.76% as of 30 September 2021 .
Cash flow from operating activities
decreased to Rs 68.41 crore for YTD ended September 2022 from Rs 434.26 crore
for YTD ended September 2021. Cash flow used in acquiring fixed
assets during the YTD ended September 2022 stood at Rs 985.91 crore, compared
to Rs 902.65 crore during the YTD ended September 2021.
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 Q2FY2023 stood at
3.31 million tons compared to 2.71 million ton in Q2FY2022 a growth of 22%.
During
Q2 FY2023, the windfarms have generated 10.74 cr units as against 12.13 cr
units in the Q2FY2022, a decrease of 11% YoY.
Expansion:
The
cement production in Kolimigundla has commenced from Sep 2022 onwards.
The 6 MW of
WHRS in Kolimigundla will be commissioned in Nov- 22. Balance 6 MW of
WHRS will be commissioned in Mar-23. TPP of 18 MW and railway siding
will be commissioned in 2023-24.
The
modernisation of RR Nagar plant will be commissioned before Mar-23.
Expansion of
capacity of its dry mix products, two units in Tamilnadu are ready for
commissioning and market trials for products are in progress. The
remaining two units in AP & Orissa will be commissioned during
2023-24.
The
Company propose to increase the grinding capacity of Haridaspur plant, Odisha by
0.9 MTPA at a cost of only Rs.130 Crores since other infrastructures are
already in place, thereby doubling its capacity to 1.8 MTPA.
CAPEX:
The
company has incurred CAPEX of Rs 504 cr in Q2FY2023.
| The Ramco Cements : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,793.74 | 1,503.11 | 19.34 | 3,573.15 | 2,737.79 | 30.51 | 6,003.69 | 5,291.00 | 13.47 | | OPM (%) | 10.47 | 26.60 | -1,613 bps | 13.74 | 27.99 | -1,425 bps | 21.49 | 29.43 | -795 bps | | OP | 187.72 | 399.79 | -53.05 | 490.83 | 766.25 | -35.94 | 1,290.07 | 1,557.31 | -17.16 | | Other Inc. | 6.87 | 7.22 | -4.85 | 13.10 | 12.53 | 4.55 | 28.00 | 30.37 | -7.80 | | PBIDT | 194.59 | 407.01 | -52.19 | 503.93 | 778.78 | -35.29 | 1,318.07 | 1,587.68 | -16.98 | | Interest | 55.05 | 29.40 | 87.24 | 102.53 | 53.70 | 90.93 | 112.40 | 87.62 | 28.28 | | PBDT | 139.54 | 377.61 | -63.05 | 401.40 | 725.08 | -44.64 | 1,205.67 | 1,500.06 | -19.63 | | Depreciation | 121.99 | 98.88 | 23.37 | 228.8 | 194.82 | 17.44 | 402.23 | 356.56 | 12.81 | | PBT | 17.55 | 278.73 | -93.70 | 172.6 | 530.26 | -67.45 | 803.44 | 1143.5 | -29.74 | | Share of Profit/(Loss) from Associates | -8.51 | -2.35 | -262.13 | -12.55 | -0.7 | -1,692.86 | -10.9 | 20.75 | PL | | PBT before EO | 9.04 | 276.38 | -96.73 | 160.05 | 529.56 | -69.78 | 792.54 | 1164.25 | -31.93 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 9.04 | 276.38 | -96.73 | 160.05 | 529.56 | -69.78 | 792.54 | 1164.25 | -31.93 | | Taxation | 5.33 | -240.39 | PL | 47.11 | -158.88 | PL | -89.41 | 379.92 | LP | | PAT | 3.71 | 516.77 | -99.28 | 112.94 | 688.44 | -83.59 | 881.95 | 784.33 | 12.45 | | Minority Interest (MI) | 0.63 | 0.93 | -32.26 | 0.84 | 1.15 | -26.96 | 0.47 | 0.69 | -31.88 | | Net profit | 3.08 | 515.84 | -99.40 | 112.1 | 687.29 | -83.69 | 881.48 | 783.64 | 12.49 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 3.08 | 515.84 | -99.40 | 112.1 | 687.29 | -83.69 | 881.48 | 783.64 | 12.49 | | EPS (Rs)* | 0.13 | 11.68 | -98.88 | 4.74 | 22.37 | -78.80 | 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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