On consolidated basis
Quarter
ended March 2023 compared with Quarter ended March 2022.
Net sales (including other operating income) of The Ramco
Cements has increased 50.14% to Rs 2572.54 crore.
Operating profit margin has declined
from 17.21% to 16%, leading to 39.60% rise in operating profit to Rs 411.67
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 15.72% to 17.97%. Employee cost
decreased from 5.80% to 4.76%. Other expenses fell from 61.26% to
60.72%. Power and Oil fuel cost rose from 27.25% to 30.88%.
Freight charges fell from 20.44% to 20.06%.
Other
income rose 18.86% to Rs 11.03 crore. PBIDT rose 38.96% to Rs 422.7
crore. Provision for interest rose 130.85% to Rs 77.15
crore. Loan funds rose to Rs 4,507.11 crore as of 31 March 2023 from
Rs 3,949.67 crore as of 31 March 2022. Inventories rose to Rs 883.61
crore as of 31 March 2023 from Rs 834.47 crore as of 31 March
2022. Sundry debtors were higher at Rs 465.10 crore as of 31 March
2023 compared to Rs 350.71 crore as of 31 March 2022. Cash and bank
balance declined from Rs 178.48 crore as of 31 March 2022 to Rs 170.33 crore as
of 31 March 2023. Investments declined from Rs 297.09 crore as of 31
March 2022 to Rs 272.70 crore as of 31 March 2023.
PBDT
rose 27.62% to Rs 345.55 crore. Provision for depreciation rose
30.67% to Rs 140.93 crore. Fixed assets increased to Rs 12,031.83
crore as of 31 March 2023 from Rs 10,697.98 crore as of 31 March
2022. Intangible assets increased from Rs 108.81 crore to Rs 150.03
crore.
Profit
before tax grew 25.60% to Rs 204.62 crore. Share of profit/loss was
94.38% higher at Rs -0.28 crore. Provision for tax was expense of Rs
53.74 crore, compared to Rs 39.66 crore. Effective tax rate was
26.30% compared to 25.11%.
Minority interest increased 13.33%
to Rs -0.26 crore. Net profit attributable to owners of the company
increased 27.23% to Rs 150.86 crore.
Equity
capital stood at Rs 23.63 crore as of 31 March 2023 to Rs 23.63 crore as of 31
March 2022. Per share face Value remained same at Rs
1.00.
Promoters’
stake was 42.30% as of 31 March 2023 ,compared to 42.33% as of 31 March 2022
. Promoters pledged stake was 22.03% as of 31 March 2023 ,compared
to 20.63% as of 31 March 2022 .
Full year results analysis.
Net sales (including other operating
income) of The Ramco Cements has increased 35.87% to Rs 8157.26
crore.
Operating profit margin has declined
from 21.49% to 14.53%, leading to 8.10% decline in operating profit to Rs
1,185.55 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 14.92% to 16.61%. Employee cost
decreased from 7.24% to 5.90%. Other expenses rose from 56.37% to
62.98%. Power and Oil fuel cost rose from 23.11% to 32.57%.
Freight charges fell from 20.20% to 19.62%.
Other
income rose 17.61% to Rs 32.93 crore. PBIDT fell 7.56% to Rs 1218.48
crore. Provision for interest rose 113.99% to Rs 240.52
crore. Loan funds rose to Rs 4,507.11 crore as of 31 March 2023 from
Rs 3,949.67 crore as of 31 March 2022. Inventories rose to Rs 883.61
crore as of 31 March 2023 from Rs 834.47 crore as of 31 March
2022. Sundry debtors were higher at Rs 465.10 crore as of 31 March
2023 compared to Rs 350.71 crore as of 31 March 2022. Cash and bank
balance declined from Rs 178.48 crore as of 31 March 2022 to Rs 170.33 crore as
of 31 March 2023. Investments declined from Rs 297.09 crore as of 31
March 2022 to Rs 272.70 crore as of 31 March 2023.
PBDT
fell 18.89% to Rs 977.96 crore. Provision for depreciation rose
25.79% to Rs 505.98 crore. Fixed assets increased to Rs 12,031.83
crore as of 31 March 2023 from Rs 10,697.98 crore as of 31 March
2022. Intangible assets increased from Rs 108.81 crore to Rs 150.03
crore.
Profit
before tax down 41.26% to Rs 471.98 crore. Share of profit/loss was
149.91% lower at Rs -27.24 crore. Provision for tax was debit of Rs
129.99 crore, compared to credit of Rs 89.41 crore. Effective tax
rate was 29.23% compared to negative 11.28%.
Minority
interest decreased 51.06% to Rs 0.23 crore. Net profit attributable
to owners of the company decreased 64.32% to Rs 314.52 crore.
Equity
capital stood at Rs 23.63 crore as of 31 March 2023 to Rs 23.63 crore as of 31
March 2022. Per share face Value remained same at Rs
1.00.
Promoters’
stake was 42.30% as of 31 March 2023 ,compared to 42.33% as of 31 March 2022
. Promoters pledged stake was 22.03% as of 31 March 2023 ,compared
to 20.63% as of 31 March 2022 .
Cash
flow from operating activities increased to Rs 1,411.50 crore for year ended
March 2023 from Rs 1,134.89 crore for year ended March 2022. Cash
flow used in acquiring fixed assets during the year ended March 2023 stood at
Rs 1,765.79 crore, compared to Rs 1,816.58 crore during the year ended March
2022.
Operational
highlights:
Sales volume in Q4FY2023 stood at 4.7
million tons compared to 3.23 million ton in Q4FY2022 a growth of 46%. Sales
volume in FY2023 stood at 15.02 million tons compared to 11.14 million ton in
FY2022 a growth of 35%.
During Q4FY2023,
blended EBITDA per ton is Rs.917/-, compared to Rs.956/- in Q44FY2022 with a
de-growth of 4%. Blended EBIDTA per ton for the FY2023 is Rs.823/- as against
Rs.1,190/- during FY2022.
During
04FY23, the green energy share remains at 23% as against 16% in Q4FY22. During
FY2023, the green energy share remains at 22% as against 15% in FY2022.
During
FY2023, the windfarms have generated 22.33 cr units as against 23.25 cr units
in FY2022, a decrease of 4% YoY.
Expansion:
Out of 12 MW
WHRS in Kolimigundla, 8 MW is operational and balance 4 MW will be commissioned
in May-2023.
TPP of 18 MW
and railway siding will be commissioned in FY2024.
Line-3 in RR
Nagar plant with 1 MTPA of clinkering facility was commissioned in Mar-2023.
With regard
to expansion of capacity of its dry mix products in 4 locations, commercial
production have started in 2 locations in TN and the remaining units in AP
& Orissa will be commissioned during 2023-24.
CAPEX:
The
company has incurred CAPEX of Rs 389 cr in Q4FY2023 and Rs 1765 cr in FY2023.
Dividend: The Board of
Directors have recommended a dividend of Rs.2/- per share of Rs.1/- each for
the year ended 31st March 2023
| The Ramco Cements : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202303 | 202203 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 2,572.54 | 1,713.40 | 50.14 | 8,157.26 | 6,003.69 | 35.87 | | OPM (%) | 16.00 | 17.21 | -121 bps | 14.53 | 21.49 | -695 bps | | OP | 411.67 | 294.90 | 39.60 | 1,185.55 | 1,290.07 | -8.10 | | Other Inc. | 11.03 | 9.28 | 18.86 | 32.93 | 28.00 | 17.61 | | PBIDT | 422.70 | 304.18 | 38.96 | 1,218.48 | 1,318.07 | -7.56 | | Interest | 77.15 | 33.42 | 130.85 | 240.52 | 112.40 | 113.99 | | PBDT | 345.55 | 270.76 | 27.62 | 977.96 | 1,205.67 | -18.89 | | Depreciation | 140.93 | 107.85 | 30.67 | 505.98 | 402.23 | 25.79 | | PBT | 204.62 | 162.91 | 25.60 | 471.98 | 803.44 | -41.26 | | Share of Profit/(Loss) from Associates | -0.28 | -4.98 | 94.38 | -27.24 | -10.9 | -149.91 | | PBT before EO | 204.34 | 157.93 | 29.39 | 444.74 | 792.54 | -43.88 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 204.34 | 157.93 | 29.39 | 444.74 | 792.54 | -43.88 | | Taxation | 53.74 | 39.66 | 35.50 | 129.99 | -89.41 | PL | | PAT | 150.6 | 118.27 | 27.34 | 314.75 | 881.95 | -64.31 | | Minority Interest (MI) | -0.26 | -0.3 | 13.33 | 0.23 | 0.47 | -51.06 | | Net profit | 150.86 | 118.57 | 27.23 | 314.52 | 881.48 | -64.32 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 150.86 | 118.57 | 27.23 | 314.52 | 881.48 | -64.32 | | EPS (Rs)* | 6.38 | 5.02 | 27.23 | 13.31 | 33.52 | -60.29 | | | * 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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