NEW DELHI: India Cements Ltd on Friday reported a consolidated web revenue of Rs 58.47 crore in June 2024 quarter although its gross sales quantity declined 26 per cent as capability utilisation was severely hit as a consequence of steady liquidity crunch. The Chennai-based firm offered its grinding unit at Parli, Maharashtra in April and included the acquire of Rs 240.68 crore from the offered unit as an distinctive merchandise within the quarterly revenue.
Earlier than the distinctive gadgets and tax, India Cements Ltd (ICL) had a loss of Rs 147.97 crore within the quarter underneath evaluation.
The corporate, by which the promoters are promoting their stake to rival Aditya Birla group agency UltraTech Cement, had reported a web lack of 87.40 crore in the course of the April-June quarter a 12 months in the past.
Its income from operations was down 28.53 per cent to Rs 1,026.76 crore in the course of the interval underneath evaluation as in opposition to Rs 1,436.74 crore within the corresponding quarter, based on a regulatory submitting from ICL.
“The capability utilisation of the corporate was severely impacted attributable to the continual liquidity crunch on account of losses sustained within the earlier quarters,” mentioned an earnings assertion from the corporate.
The N Srinivasan-led firm couldn’t benefit from the decreased gasoline value as working margins additional shrunk on account of low quantity.
“The upper value of manufacturing as in comparison with friends as a consequence of various classic of the vegetation along with free fall in cement costs affected the dispatch and the margins,” it mentioned.
Cement and clinker quantity for the quarter was 19.61 lakh tonnes as in comparison with 26.66 lakh tonnes in the identical quarter of the earlier 12 months with a drop of greater than 26 per cent, it added.
“The EBIDTA was accordingly unfavorable at Rs 22 crore in opposition to a constructive Rs 12 crore in final 12 months. The curiosity and different prices had been greater at Rs 82 crore in opposition to Rs 58 crore whereas depreciation was up at Rs 55 crore in opposition to Rs 53 crores and the resultant loss earlier than extra-ordinary merchandise was at Rs 160 crore in opposition to a lack of Rs 99 crore,” it mentioned.
Whole bills of ICL within the June quarter had been down 22.76 per cent to Rs 1,190.24 crore.
ICL’s complete earnings within the June quarter was down 27.81 per cent to Rs 1,042.27 crore.
Over the outlook, ICL mentioned, “With the conventional rainfall propelling, rural demand is probably going to enhance additional and the Price range has introduced large investments within the subsequent 5 years on infrastructure and housing tasks.”
“With particular monetary assist to Andhra Pradesh, there’s renewed optimism for enchancment in financial exercise within the zone and the medium-term prospects augur properly for the business,” mentioned the South-based cement maker.
Shares of India Cements on Friday settled 0.34 per cent decrease at Rs 366.90 apiece on the BSE.
Earlier than the distinctive gadgets and tax, India Cements Ltd (ICL) had a loss of Rs 147.97 crore within the quarter underneath evaluation.
The corporate, by which the promoters are promoting their stake to rival Aditya Birla group agency UltraTech Cement, had reported a web lack of 87.40 crore in the course of the April-June quarter a 12 months in the past.
Its income from operations was down 28.53 per cent to Rs 1,026.76 crore in the course of the interval underneath evaluation as in opposition to Rs 1,436.74 crore within the corresponding quarter, based on a regulatory submitting from ICL.
“The capability utilisation of the corporate was severely impacted attributable to the continual liquidity crunch on account of losses sustained within the earlier quarters,” mentioned an earnings assertion from the corporate.
The N Srinivasan-led firm couldn’t benefit from the decreased gasoline value as working margins additional shrunk on account of low quantity.
“The upper value of manufacturing as in comparison with friends as a consequence of various classic of the vegetation along with free fall in cement costs affected the dispatch and the margins,” it mentioned.
Cement and clinker quantity for the quarter was 19.61 lakh tonnes as in comparison with 26.66 lakh tonnes in the identical quarter of the earlier 12 months with a drop of greater than 26 per cent, it added.
“The EBIDTA was accordingly unfavorable at Rs 22 crore in opposition to a constructive Rs 12 crore in final 12 months. The curiosity and different prices had been greater at Rs 82 crore in opposition to Rs 58 crore whereas depreciation was up at Rs 55 crore in opposition to Rs 53 crores and the resultant loss earlier than extra-ordinary merchandise was at Rs 160 crore in opposition to a lack of Rs 99 crore,” it mentioned.
Whole bills of ICL within the June quarter had been down 22.76 per cent to Rs 1,190.24 crore.
ICL’s complete earnings within the June quarter was down 27.81 per cent to Rs 1,042.27 crore.
Over the outlook, ICL mentioned, “With the conventional rainfall propelling, rural demand is probably going to enhance additional and the Price range has introduced large investments within the subsequent 5 years on infrastructure and housing tasks.”
“With particular monetary assist to Andhra Pradesh, there’s renewed optimism for enchancment in financial exercise within the zone and the medium-term prospects augur properly for the business,” mentioned the South-based cement maker.
Shares of India Cements on Friday settled 0.34 per cent decrease at Rs 366.90 apiece on the BSE.
