Cement manufacturing company Dalmia Bharat Limited on August 6 announced its unaudited consolidated financial results for the quarter ended June 30, 2020
Despite the challenges posed by COVID-19, the company delivered a strong performance and achieved an EBITDA of Rs. 1675/T during the quarter, said a press release. This is the highest ever EBITDA achieved by the company and is an outcome of a combination of price increases in its operating regions and sustained sharp focus on cost optimisation, added the release.
The company witnessed volume de-growth of 19 per cent on YOY basis which was reasonably better than the overall cement industry average. The volume de-growth was only on account of complete lockdown in April and there being no production activity at all. However, after resumption of operations at end of April, there was an immediate pickup in cement demand from pending infra projects and Individual home building segment, especially in East India. The pick-up of demand in rural demand was stronger than that in the urban areas, said the release.
With a continued effort to strengthen the balance sheet further and have a robust cash position, Dalmia Bharat repaid more than Rs 500 crore of gross debt during the quarter and its net debt to EBITDA ratio is now at 1.02x.