FY24 Annual Result Announced for Nuvoco Vistas Corporation Ltd.
Cement & Cement products company Nuvoco Vistas Corporation announced FY24 results: Financial Highlights: Consolidated EBITDA at Rs 1,657 crore and PAT at Rs 147 crore; achieving highest-ever profitability Net debt reduced by Rs 384 crore YoY to Rs 4,030 crore Successfully commissioned 1.2 MMTPA Grinding unit at Haryana, increasing North share of capacity from 20% to 24% The Company's consolidated cement sales volume stood at 18.8 MMT in FY24. Consolidated revenue from operations stood at Rs 10,733 crore, in FY24. Consolidated EBITDA improved by 35% YoY to Rs 1,657 crore. The company reduced net debt by Rs 384 crore YoY to Rs 4,030 crore, resulting in Net debt / EBITDA of 2.4x. Commenting on the performance of the Company, Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. stated, “The Company enhanced its operational efficiencies and delivered strong growth in EBITDA and PAT despite a volatile demand environment during FY24, achieving the highest profitability. Our commendable operational outcomes reflect our dynamic and efficient strategy focused on premiumisation and cost optimisation. Moving to FY25, our strategies focus on growth, expanding our market presence, and extracting more volumes from home markets while continuing our thrust on efficiency improvement initiatives.” Furthermore, he added, “The additional capacity in Haryana allows us to expand our market presence in the North while maintaining our leadership in the East. We have also seized the opportunity to grow our ReadyMix Concrete business, commissioning seven new plants this fiscal year, bringing the total to 58 plants pan-India.” Result PDF02-05-2024