Dalmia Bharat Ltd saw a 46.5% year-on-year decline in consolidated net profit for January-March, dropping to ₹315 Crore due to lower cement prices affecting margins. In the same period of FY23, the company reported a net profit of ₹589 Crore.
Despite profit decline, consolidated revenue for Q4 FY24 rose to ₹4,307 Crore, marking a 10% increase from the previous year. Sales volume also grew by 18.5% to 8.8 million tonnes (mt).
Managing director & CEO Puneet Dalmia expressed confidence in demand growth, emphasizing the pivotal role of the cement sector in India's infrastructure development.
During the quarter, aggressive volume push led to a 6% sequential decline in cement prices to ₹370-375 per 50-kg bag. Fiscal 2024 saw subdued cement prices compared to the previous year. Dalmia Bharat's Ebitda stood at ₹654 Crore with an Ebitda margin of 15.18%.
CFO Dharmender Tuteja highlighted the company's focus on long-term cost savings, including renewable energy and digitization of the supply chain.
For the full financial year ending on March 31, the company reported a consolidated profit after tax of ₹826 Crore, a 20.19% decrease. Revenue stood at ₹14,691 Crore, up 8.4% from FY23. Dalmia Bharat increased its installed manufacturing capacity by over 15% to 44.6 mt in FY24.
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