💡Ramco Cements – Q1FY23 Results💡
• Revenue fell by 44% YoY to INR 1,765.64 Cr
• But however, Net Profit was down by 36.37% at INR 109.23 Cr
• Sale of cement in Q1FY23 in 3.31 Mn Tonne compared to 2.14 Mn Tonne in Q1FY22. However, the Q1FY22 sale of cement was impacted by the COVID-19 second wave
MARGINS 📊
• EBITDA was down by 17% YoY to INR 308 Cr
• The decline in margins was due to an average increase in diesel price by INR 11 per litre, which increased the inbound and outbound logistics cost
• Also, the coke price was increased by 90bps YoY. Coke is used as a raw material for the manufacturing of cement
FUTURE OUTLOOK
• Ramco Cements intends to increase the capacity of its dry mix products in Tamilnadu, Orissa, and Andhra Pradesh in order to produce high-value goods like waterproofing, repair products, and flooring screeds
• The two units in Tamil Nadu will be commissioned in FY23 and the remaining two units in Andhra Pradesh & Orissa will be commissioned in FY24