Nuvoco records group revenues of INR2000m in 2QFY21-22

Nuvoco records group revenues of INR2000m in 2QFY21-22
11 November 2021

Nuvoco Vistas Corp Ltd (Nuvoco) announced its unaudited financial results for the quarter ended 30 September 2021 with consolidated revenue from group operations (including NU Vista Ltd) reaching at INR20,200m (US$26.89m). Consolidated EBITDA margin stood at 17 per cent.

Commenting on the results, Jayakumar Krishnaswamy, MD of Nuvoco Vistas Corp Ltd, said, “In spite of the challenging market conditions in our major operating market of East, we were able to achieve volumes at par as compared to last year. 

“Premium product share improved by three per cent on YoY and will continue to be thrust area going forward. Our flagship Project SPRINT which is to drive synergies between Nuvoco and NU Vista has been yielding results as expected and is able to partially offset the input price hike. Double Bull launch in the north and composite cement scale up have been faster than target plans. 

"Sustainability remains core to the company with thrust on composite cement, green concrete, the ramp up of WHR output and an increase in alternate fuel usage. This quarter witnessed the commissioning of captive power plant at Arasmeta.”

Published under Cement News