Q4FY24 Quarterly & FY24 Annual Result Announced for Heidelberg Cement India Ltd.
Cement & Cement Products company Heidelberg Cement India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: The company experienced a marginal decline in revenue, c.1%. This decrease was primarily due to 4.7% decrease in prices, partially offset by 4% increase in sales volume. On a per tonne basis, the total operating cost (including freight) decreased by c.8.4% YoY. This cost reduction was primarily due to decrease in power and fuel expenses. The Company increased consumption of Alternate Fuels to the extent of 10% by increasing usage of alternate fuels such as Bio Masses and Refuse derived fuels. The Company reported EBITDA per tonne of & Rs 721 per tonne, an increase of c.24% YoY and Profit After Tax of Rs 482 million, representing c.38% growth YoY. FY24 Financial Highlights: On a per tonne basis, the price decreased by 3.4% as compared to c.6% decrease in total operating cost (including freight) resulting in a favourable EBITDA of Rs 659 per tonne, c. 16% growth YoY. The fuel prices per gigajoule decreased significantly and with increase in share of alternate fuels, the company's overall fuel prices reduced by 31% YoY. The power cost was further optimized by increase in green power generation from Waste Heat Recovery System (WHRS) and various other power sourcing options; the Company's share of non-grid power increased to 38%. The Company has repaid its second tranche of interest-free loan of Rs 629 million. As at March 31, 2024, the cash & bank balance stood at Rs 5,328 million as against interest- free borrowings of Rs 1,381 million. The Board of Directors is pleased to recommend a Dividend of Rs 8/- per equity share (80%) for the Financial Year 2023-24. This recommendation is subject to the approval of the shareholders at the uncomina Annual General Meeting of the Company. Result PDF29-05-2024