The India Cements reports Q3 loss of Rs 65.8 mn
Cement

The India Cements reports Q3 loss of Rs 65.8 mn

The India Cements reported a consolidated net loss of Rs 65.8 million for the third quarter ending December 2023, contrasting with a net profit of Rs 1112.2 million in the corresponding period of the previous year, as disclosed in a regulatory filing. The company's revenue from operations during this period stood at Rs 11.4446 billion, down from Rs 12.81 billion in the same quarter last year. Total expenses amounted to Rs 12.14 billion.

The company noted that its capacity utilisation was subdued at 51% for the third quarter, compared to 56% in the previous year's quarter and 61% in the second quarter of the current fiscal year. The cement and clinker volume for the quarter decreased by almost 9% to 19.85 lakh tonne, down from 21.82 lakh tonne in the prior year.

Despite lower capacity utilisation, the company managed to control variable costs through a reduction in power consumption and improved utilisation of alternative fuels and petcoke in the overall fuel mix. The company is actively working on disposing of non-core assets and has recovered Rs 4.55 billion of advances from April to December FY24 to enhance cash flow.

Efforts are underway to raise funds for plant efficiency improvements and working capital needs. The quarter saw an exceptional income of Rs 260 million from the profit on the sale of a ship. The company is strategically monetising non-core assets to boost liquidity, improve operating performance, and meet essential capital expenses.

Looking ahead, the company expressed optimism about the cement demand remaining robust, fuelled by an increasing preference for home ownership and the reconstruction of homes and workplaces. Additionally, it anticipates a boost in construction activity from heightened spending on infrastructure projects by the central and state governments ahead of the next Lok Sabha elections.?

The India Cements reported a consolidated net loss of Rs 65.8 million for the third quarter ending December 2023, contrasting with a net profit of Rs 1112.2 million in the corresponding period of the previous year, as disclosed in a regulatory filing. The company's revenue from operations during this period stood at Rs 11.4446 billion, down from Rs 12.81 billion in the same quarter last year. Total expenses amounted to Rs 12.14 billion. The company noted that its capacity utilisation was subdued at 51% for the third quarter, compared to 56% in the previous year's quarter and 61% in the second quarter of the current fiscal year. The cement and clinker volume for the quarter decreased by almost 9% to 19.85 lakh tonne, down from 21.82 lakh tonne in the prior year. Despite lower capacity utilisation, the company managed to control variable costs through a reduction in power consumption and improved utilisation of alternative fuels and petcoke in the overall fuel mix. The company is actively working on disposing of non-core assets and has recovered Rs 4.55 billion of advances from April to December FY24 to enhance cash flow. Efforts are underway to raise funds for plant efficiency improvements and working capital needs. The quarter saw an exceptional income of Rs 260 million from the profit on the sale of a ship. The company is strategically monetising non-core assets to boost liquidity, improve operating performance, and meet essential capital expenses. Looking ahead, the company expressed optimism about the cement demand remaining robust, fuelled by an increasing preference for home ownership and the reconstruction of homes and workplaces. Additionally, it anticipates a boost in construction activity from heightened spending on infrastructure projects by the central and state governments ahead of the next Lok Sabha elections.?

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?