Lower sales volumes due to tardy growth for cement, supply overhang due to new capacities and lower selling prices due to supply side pressure have had an adverse effect on the working results, said a press release. The cement production declined to 48.48 lakh tonne (52.85 lakh tonne), while sales was lower at 48.62 lakh tonne (53.16 lakh tonne). Cement sales in terms of value declined to Rs 1182.02 crore (Rs 1435.61 crore). The gross realisation declined by about Rs 265 per tonne during the fiscal.
The total capacity of the company currently stands at 7.7 million tonnes.
Meanwhile, total expenditure stood at Rs 1027.89 crore (Rs 1127.02 crore). Interest charges was at Rs 205.44 crore (Rs 190.20 crore). Depreciation stood at Rs 87.47 crore (Rs 83.00 crore). Paid-up share capital was at Rs 138.59 crore (Rs 138.48 crore). Reserves was lower at Rs 424.90 crore (Rs 602.51 crore) due a deferred tax liability being charged to the reserve.