The Ramco Cements reported a 53% jump in consolidated net profit to Rs 170 crore and a 17.9% rise in net revenue to Rs 1,235 crore in Q1FY22 over Q1FY21.
Although on a sequential basis the company"s revenue from operations were down 24% compared to total revenues in the year-ago quarter at Rs.1,048 cr. Ramco witnessed slowdown in demand due to lockdowns in May/June 2021 but still managed to clock 11% growth in cement sales which stood at 1.41 lakh tonnes in Q1FY22 as against 19.37 lakh tonnes in Q1FY21. The capacity utilization stood at 71% vs 53% in Q1FY21.
The company's EBIDTA for the quarter came in at Rs.367 crore as against Rs 263 crore during the previous corresponding period with an increase of 39% due to improved margins and an increase in sale volumes. Blended EBIDTA per ton for Q1FY22 was Rs 1,728 as against Rs 1394 in Q1FY21. Operating margins on a YoY basis were up from 26% in Q1FY21 to 30% in Q1FY22.
The operating performance was achieved through better cost controls. For example, while the revenues were up by 17.9% on a YoY basis, the operating costs were up by 11% as the company initiated cost control measures which sharply brought down the miscellaneous expenses category contribution in the June-21 quarter. Ramco's cost of materials per tonne has gone up 4% and Logistcis cost was up 3% on a YoY basis mainly due to an increase of 29% in diesel price. The average lead distance for the current quarter stood at 346 KMs vs 315 KMs YoY.
The company"s PAT margins stood at 14% in Q1FY22 as against 10% in Q1FY21. EPS grew to Rs.7 per share in Q1FY22 as against Rs.5 per share. During the FY 2020-21, the company has incurred Rs 397 crore towards Capex.
The company's windfarms generated 7.01 crore units as against 6.1 crore units in the previous corresponding period, up by 15% on a year-on-year (YoY) basis.