Ramco Cements posts 4QFY24 results

India-based Ramco Cements Limited (TRCL) has announced its financial results for the 4QFY24, reporting a 20 per cent decline in its standalone net profit after tax to INR1210m (US$14.54m), compared with INR1520m in the same period a year prior. The reduction in profit has been attributed to cost pressures. The company’s net revenue increased to INR26.87bn in Q4FY24.

For the year ending 31 March 2024, the company’s net profit rose by 14.8 per cent from INR3.44bn to INR3.95bn. Meanwhile, net revenue expanded 15 per cent, from INR81.72bn to INR93.9bn. The company’s sales volumes of cement and dry mortar saw 22 per cent growth to 15.02Mt. EBITDA for FY24 increased to INR15.95bn from INR12.19bn in FY23, marking a significant 31 per cent rise. The year’s blended EBITDA per tonne came in at INR8.6bn, up from INR8.11bn last year. 

Ramco’s raw materials costs have risen five per cent to INR9.48bn, from INR9.03bn (per tonne) due to inflationary pressure caused by procurement costs. In contrast, power and fuel costs per tonne of cement for FY24 decreased to INR1389, down 21.56 per cent from INR1771.  

Along with the financial results, Ramco also announced its plans to double its clinker capacity at Kolimigundla to 6.3Mta and double the cement capacity to 3Mta with 15MW of WHRS. The company plans to have a clinker/cement capacity of 19Mt/26Mt respectively by FY26.