Ramco Cements declared net revenue of Rs 2,249 crore in Q1FY24 as against Rs 1,779 crores during Q1FY23 with a growth of 26 per cent. EBITDA for Q1FY24 is Rs 349 crores as against Rs 308 crores during Q1FY23 with growth of 14 per cent. EBITDA margin was affected due to higher fuel and weak cement prices.
Even though the fuel prices have come down during the Q1FY24 for a brief period, the power and fuel cost per tonne of cement for Q1FY24 remained at elevated level due to the higher base effect of the carrying value of the fuel inventory. However, the power and fuel cost per tonne is expected to come down in the coming quarters.
During Q1FY24, the company clocked a sales volume of 4.30 million tonnes, compared to 3.34 million tonnes in Q1FY23 with a growth of 29 per cent. As a result of non-availability of sand in Kerala, supply disruption due to rail accidents in Orissa and West Bengal and active monsoon in NE, the growth in sale volume below its actual potential. The cement capacity utilisation for the Q1FY24 is at 79 per cent.
The company has incurred a capex cost of Rs 284 crores during Q1FY24. The net debt as on June 30 is Rs 4,406 crores, out of which Rs 479 crores is for working capital.