Nuvoco Vistas Corp sees 24% increase in revenue in FY21-22

Nuvoco Vistas Corp sees 24% increase in revenue in FY21-22
23 May 2022

India-based Nuvoco Vistas Corp has announced its audited financial results for the financial year ended 31 March 2022.

Consolidated revenue from operations improved by 24 per cent to INR93.18bn (US$1.2bn) for FY21-22 while consolidated EBITDA reached INR15.39bn and profit after tax at INR320m.

Consolidated net debt declined by INR16.66bn to INR50.64bn in the FY21-22.

Commenting on the financial results, Nuvoco Vistas Corp MD, Jayakumar Krishnaswamy, said: "FY22 was an exceptionally challenging year. Several crises such as - the resurgence of COVID-19 pandemic, sand unavailability and inflationary pressure - have negatively impacted the industry. In the meantime, we continued to focus on internal levers and operational efficiencies. Market share of our premium products on trade volumes improved to 34 per cent and will remain a major thrust area. Our investments in sustainability projects will further our ESG Agenda. We also remain committed to grow our operations on account of the announced clinker expansion plans at Risda and Nimbol; and Grinding Unit at Bhiwani."

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