Invest
The Ramco Cements announced Q3FY24 results:
Financial Performance
- The Ramco Cements reported a net revenue of Rs 2,113 crore in Q3FY24, a 5% increase from Rs 2,018 crore in Q3FY23.
- EBITDA surged by 37%, standing at Rs 402 crore in Q3FY24 compared to Rs 294 crore in Q3FY23.
- Profit before tax rose to Rs 135 crore in Q3FY24, up from Rs 97 crore in Q3FY23.
- Operating ratio improved to 19% in Q3FY24 compared to 15% in Q3FY23.
Sales and Production
- Cement sales volume reached 4 million tons in Q3FY24, marking a 10% growth over 3.64 million tons in Q3FY23.
- Cement capacity utilization was recorded at 74% for Q3FY24.
Cost Management
- Raw materials cost saw a 3% year-over-year increase, from Rs 944 per ton to Rs 970 per ton.
- Power & fuel cost per ton of cement for Q3FY24 decreased to Rs 1,386 from Rs 1,929 in Q3FY23.
- Blended fuel consumption per ton for cement was equivalent to $138, down from $191 in Q3FY23.
- Interest cost increased to Rs 102 crore in Q3FY24 from Rs 61 crore in Q3FY23.
- Depreciation costs rose to Rs 166 crore in Q3FY24, an increase from Rs 136 crore in Q3FY23.
Green Energy Initiatives
- Proposal for establishing a Waste Heat Recovery System (WHRS) of 10 MW at the Ramasamy Raja Nagar plant by March 2025.
- The company's wind energy capacity, along with its subsidiary, reached 166 MW installed capacity.
- Green power usage improved significantly from 20% in Q3FY23 to 36% in Q3FY24.
- The share of green power in total energy consumption is anticipated to reach 42% by end of FY25 and 48% by end of FY26.
Capacity Enhancements
- Clinger capacity increased by 0.65 MTPA at Kolimigundla and 0.35 MTPA at Ariyalur through pyro process optimisation.
- De-bottlenecking of cement capacity aggregating to 1 MTPA is scheduled for FY25.
- Plan to double the clinker capacity in Kolimigundla to 6.30 MTPA and double the cement capacity to 3 MTPA, to be commissioned in FY26.
Capital Expenditure (CAPEX)
- Ongoing capex including maintenance capex incurred Rs 385 crore in Q3FY24.
- Capex guidance for Q4FY24 is around Rs 390 crore, and FY25 is estimated at Rs 1,700 crore.
Debt and Borrowings
- Net debt as of December 31, 2023, is Rs 4,993 crore, with a net debt to EBITDA ratio of 3.22 times.
- The average cost of debt for 9MFY24 is at 7.82% compared to 6.16% in 9MFY23.
FAQ’s on The Ramco Cements Ltd Shares
