India Cements Reports Improved Q3 Losses
Cement

India Cements Reports Improved Q3 Losses

Cement manufacturer The India Cements Ltd has reported a standalone net loss of Rs 813.9 million for the July-September 2023 quarter, a notable improvement from the Rs 1.37 billion loss in the same period the previous year. However, for the six months ending on September 30, 2023, the net loss increased to Rs 1.56 billion, compared to a net loss of Rs 614.9 billion in the corresponding period of the previous year.

Standalone total income also declined to Rs 1,2.28 billion for the quarter, down from Rs 12.58 billion in the same period the prior year. For the half-year ending September 30, 2023, the standalone total income stood at Rs 26.27 billion, compared to Rs 27.12 billion in the same period of the previous year.

Despite facing challenges due to a stressed working capital position, the company managed to achieve a slightly positive EBITDA during the quarter, with EBITDA totalling Rs 140 million, a marked improvement from the negative EBITDA of Rs 870 million in the second quarter of the previous year.

The company noted that the selling price of cement was under pressure due to supply saturation and market competition. In response, India Cements is actively working on disposing of non-core assets and exploring other avenues to raise funds for plant refurbishments, enhance efficiency, and address working capital requirements.

The company has also increased the proportion of blended cement in its operations, from 50 per cent in the previous year to 56 per cent in the first six months of the current year. Looking ahead, India Cements sees a positive outlook for cement demand, driven by increased home construction and infrastructure projects in preparation for upcoming elections.

Cement manufacturer The India Cements Ltd has reported a standalone net loss of Rs 813.9 million for the July-September 2023 quarter, a notable improvement from the Rs 1.37 billion loss in the same period the previous year. However, for the six months ending on September 30, 2023, the net loss increased to Rs 1.56 billion, compared to a net loss of Rs 614.9 billion in the corresponding period of the previous year. Standalone total income also declined to Rs 1,2.28 billion for the quarter, down from Rs 12.58 billion in the same period the prior year. For the half-year ending September 30, 2023, the standalone total income stood at Rs 26.27 billion, compared to Rs 27.12 billion in the same period of the previous year. Despite facing challenges due to a stressed working capital position, the company managed to achieve a slightly positive EBITDA during the quarter, with EBITDA totalling Rs 140 million, a marked improvement from the negative EBITDA of Rs 870 million in the second quarter of the previous year. The company noted that the selling price of cement was under pressure due to supply saturation and market competition. In response, India Cements is actively working on disposing of non-core assets and exploring other avenues to raise funds for plant refurbishments, enhance efficiency, and address working capital requirements. The company has also increased the proportion of blended cement in its operations, from 50 per cent in the previous year to 56 per cent in the first six months of the current year. Looking ahead, India Cements sees a positive outlook for cement demand, driven by increased home construction and infrastructure projects in preparation for upcoming elections.

Next Story
Products

Mulroom Revolutionizes India’s Furniture Market

India's furniture market, a rapidly growing industry, has long grappled with inefficient supply chains, high costs, and limited customization options. Enter Mulroom, a tech-driven startup founded by Parikshit Guhabiswas, which aims to revolutionize the sector through a direct-to-consumer (DTC) model that empowers craftspeople and small-scale manufacturers while promoting sustainability. Mulroom tackles the industry's age-old problems by eliminating middlemen and implementing a lean, technology-enabled supply chain that cuts down waste and reduces costs. By leveraging AI-powered demand forecas..

Next Story
Infrastructure Urban

Build Capital Exits Second SRA Project with 19.76% IRR

Build Capital, an early-stage real estate financier, has successfully exited its investment in a Slum Rehabilitation Authority (SRA) project near Bandra-Kurla Complex (BKC), Mumbai. This marks another successful exit for Build Capital this year, highlighting its focus on delivering superior stakeholder value through structured real estate financing. Build Capital partnered with the developer during the early stages of the project, which had faced significant delays. Its investment facilitated the completion of rehabilitation works and the conversion of scheme parameters to DCPR 2034, enhancin..

Next Story
Infrastructure Urban

Chandak Group Celebrates Women’s Identity

Chandak Group marked this Women’s Day with a powerful and heartfelt gesture aimed at celebrating the individuality and strength of women. Instead of conventional celebrations, the real estate brand launched a meaningful campaign to honor the women who have made Chandak homes their own. The initiative offered every woman homebuyer a unique, personalized memento—a beautifully engraved, sustainable keyholder featuring her name. This thoughtful token serves not only as a keepsake but also as a recognition of her journey, achievements, and rightful space within the home. The campaign’s emot..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?