Orient Cement sees revenue advance in FY22-23

Orient Cement sees revenue advance in FY22-23
05 July 2023

Orient Cement, part of the CK Birla Group, has reported total income of INR29,375.5m (US$358.2m) in its FY22-23 annual report (FY21-22:INR27,350m). EBITDA over the same period came in at INR3765.6m (FY21-22:INR6006m), with an EBITDA margin of 12.8 per cent, while profit after tax stood at INR1228.2m (FY21-22:INR2633m). Earnings per share over the 12 months were reported at INR5.99.

According to Chandrakant Birla, chairman, Orient Cement, “The government’s focus on infrastructure development, impetus for ‘Housing for All’, and robust revival of the real estate sector continues to boost the requirement for superior quality cement." Total sales volumes improved five per cent YoY in FY22-23. Sales volumes of its premium product, Birla A1 StrongCrete, saw growth of over 17 per cent over the same period. 

In terms of sustainability, the company has a long-term strategy to increase its overall energy consumption from renewable resources to 50 per cent by 2030. During FY22-23, it almost doubled its share YoY to 14.4 per cent of the total energy mix. Ongoing investments in this area include a 10.1MW waste heat recovery system, and the use of solar power to substitute thermal power at its Chittapur and Jalgaon cement plants.

Today, Orient Cement operates three plants with a total 8.2Mta of cement production capacity and 5.5 Mta of clinker production capacity. 

Published under Cement News