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EARNINGS RELEASE Q3 & 9M FY25
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Disclaimer Certain statements in this presentation describing the Company's objectives, projections, estimates and expectations may be 'forward looking statements' within the meaning of applicable laws and regulations. Although our expectations are based on reasonable assumptions, these forward-looking statements may be influenced by numerous risks and uncertainties that could cause actual outcomes and results to be materially different from those expressed or implied. The Company takes no responsibility for any consequence of decisions made based on such statements and holds no obligation to update these in the future. The past financial figures have been regrouped or rearranged as per the current grouping, wherever necessary 2
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3 TABL E O F CO NTENTS S E C T I O N PA G E N O . 01. Key Highlights 4 02. Expansion & Capex Update 7 03. Q3 & 9MFY25 Performance 10 04. ESG & Others 20 05. Awards and Accolades 24 06. Annexures 26
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KEY HIGHLIGHTS S E C T I O N 01 4
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Key Highlights 5 Quarterly Performance ▪ Sales volume declined 2% YoY to 6.7 MnT ▪ EBITDA stood at Rs 511 Cr and Rs 765/T ▪ Net Debt/EBITDA stood at 0.55x ▪ CO2 emissions stood at 460 kg/Ton of cement1 Capacity ▪ Increased Clinker capacity by 0.6 MnT at Rajgangpur and 0.3 MnT at Kadapa through debottlenecking ▪ Installed Manufacturing Capacity – Cement (46.6 MnT), Clinker (23.5 MnT) ▪ Commissioned 4 MW captive solar power plant at Medinipur, WB and 46 MW RE capacity under Group Captive, increasing our total operational RE capacity to 252 MW Others ▪ During Q3FY25, DCBL has signed Group Captive RE Power Agreements totaling 21 MW of RE Capacity. This brings our total RE power arrangements under group captive to 299 MW , including the previously secured 278 MW. ▪ ICRA ESG has assigned a Combined ESG rating of 78 (strong) to Dalmia Bharat, underscoring our status as one of the leaders in sustainability within the Indian cement sector. ▪ Underlining our commitment towards the promotion of sports and nurturing talent in India, ‘Shuttle by Dalmia Bharat’ - a High Performance Centre dedicated to promoting excellence in badminton was inaugurated in Dec’24 1. numbers are subject to assurance
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‘Shuttle by Dalmia Bharat’ 6
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EXPANSION AND CAPEX UPDATE S E C T I O N 02 7
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Organic Cement Capacity Expansion Plan – 49.5 MnT 8 Region Plant Capacity Closing Capacity FY23 38.6 East Bokaro Line 2, JH 2.5 East Medinipur, WB 0.6 South Sattur, TN 2.0 South Belgaum, KA 0.9 South Ariyalur, TN 1.0 South Kadapa, AP 1.0 Closing Capacity as on date 46.6 East Kalyanpur, BH 0.5 North East Lanka, AS 2.4 Closing Capacity FY25 49.5 Brownfield Greenfield Represents States where in capacity would be added + Represents Capacity Additions from 46.6 MnT to 49.5 MnT +0.5 MnT EAST +2.4 MnT NORTH EAST Debottlenecking
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Announced Clinker Capacity Expansion Plan 9 Q3FY25 FY25 FY26 West 2.1 2.1 2.1 South 10.4 East 8.3 8.3 North East 2.7 2.7 6.3 Total 23.5 27.1 23.5 Figures in MnT 10.4 10.4 8.3
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Q3 & 9MFY25 PERFORMANCE S E C T I O N 03 10
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20.0 20.8 9MFY24 9MFY25 Operational Performance 11 Quarterly Sales Volume 6.8 6.7 6.7 Q3FY24 Q2FY25 Q3FY25 (MnT) Decline: 2.0% Flat 9 Month Sales Volume (MnT) Growth: 4.1%
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Financial Performance 12 Quarterly Revenue 3,604 3,087 3,181 Q3FY24 Q2FY25 Q3FY25 (Rs Cr) Decline: 11.7% Growth: 3.0% 9 Month Sales Revenue (Rs Cr) 10,384 9,889 9MFY24 9MFY25 Decline: 4.8% ➢ Revenue declined 12% YoY in Q3FY25 mainly due to sharp decline in cement prices
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781 789 765 Q3FY24 Q2FY25 Q3FY25 Financial Performance 13 (Rs/T) Decrease: 2.0% Decrease: 3.0% Quarterly Cost of Raw Material Consumed^ 9 Month Cost of Raw Material Consumed^ 778 760 9MFY24 9MFY25 Decrease: 2.4%(Rs/T) ^ Basis Cement Production (not sales volume)
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1,102 1,012 1,005 Q3FY24 Q2FY25 Q3FY25 Financial Performance 14 Quarterly Power & Fuel Cost^ (Rs/T) Decrease: 8.8% Decrease: 0.6% ➢ Fuel consumption cost declined from $122/T in Q3 FY24 ($101/T in Q2 FY25) to $96/T in Q3 FY25 ➢ Share of RE in Q3 FY25 stood at 33%1 primarily due to kiln shutdowns impacting WHRS ^ Basis Cement Production (not sales volume); 1. Including third party purchases 9 Month Power & Fuel Cost^ (Rs/T) 1,181 1,008 9MFY24 9MFY25 Decrease: 14.7%
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Financial Performance 15 Quarterly Logistics Cost 1,091 1,102 1,120 Q3FY24 Q2FY25 Q3FY25 (Rs/T) ➢ Logistics costs increased on YoY basis primarily due to servicing of cement to Central markets from Eastern plants Increase: 2.7% Increase: 1.7% 9 Month Logistics Cost (Rs/T) 1,093 1,113 9MFY24 9MFY25 Increase: 1.8%
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Financial Performance 16 Total Cost /T ➢ Dalmia Bharat consistently upholds its position as one of the lowest cement cost producer -21 -124 4 -61 -77 734 790 764 748 778 205 0 0 177 51 1066 1058 997 1165 1025 1091 1102 1120 1093 1113 324 328 334 335 322 747 817 780 749 769 4,146 3,971 3,998 4,205 3,981 Q3FY24 Q2FY25 Q3FY25 9MFY24 9MFY25 Others Employee Costs Freight Charges Power & Fuel Purchase of stock in trade Raw Material Consumed (Inc)/Dec in stock Total
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779 434 511 Q3FY24 Q2FY25 Q3FY25 Financial Performance 17 Quarterly EBITDA 16.1%21.6%Margins (Rs Cr) Decrease : 34.5% Increase : 17.6% 14.1% ➢ EBITDA declined on a YoY basis primarily due to softness in cement prices, partially offset by reduction in petcoke prices 9 Month EBITDA 1,985 1,614 9MFY24 9MFY25 16.3%19.1% Decrease: 18.7%
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Financial Performance 18 Debt Position Net Debt / EBITDA (Rs Cr) * Includes MTM value of IEX Investment (Q2FY25: Rs 2,719 Cr ; Q3FY25: Rs 2,419 Cr) 0.55x Dec’24 0.25x Sep’24
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Finance Cost 19 Cost of Borrowing : 7.8% Cost of Borrowing : 8.3% (Rs Cr) (Rs Cr) Q3 FY25 Q3 FY24
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ESG & OTHERS S E C T I O N 04 20
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9 9 22 31 66 72 72 8 8 10 32 100 113 134 46 17 17 32 63 166 185 252 FY19 FY20 FY21 FY22 FY23 FY24 Q3FY25 Group Captive Solar WHRS Renewable Power Update 21 Total Renewable Power - MW ➢ During Q3FY25, DCBL has signed Group Captive RE Power Agreements totaling 21 MW of RE Capacity. This brings our total RE power arrangements under group captive to 299 MW, including the previously secured 278 MW. ➢ Operational RE capacity (including group captive) is expected to reach 267 MW by end of FY25 15x Renewable Power Capacity
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Livelihood: In Ariyalur, Dalmiapuram, and Kadapa, 1256 farmers were provided with battery-operated and power sprayers to reduce cultivation costs and boost incomes. Beneficiaries can also earn ₹15,000–₹52,000 annually by renting out the sprayers. Social Infrastructure : Health camps in six locations served 940 beneficiaries, providing check-ups, consultations, screenings, free medical supplies, and referrals in collaboration with institutions like Dhanalakshmi Srinivasan Medical College and Tata Cancer Care Hospital. CSR at Dalmia Bharat Climate Action : A 20m-wide check dam was constructed in Kallakudi, Dalmiapuram, to support nearby farmers by conserving 1.11 lakh KL of water annually, ensuring water for agriculture and cattle. Activities at CSR
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‘Shuttle by Dalmia Bharat’, dedicated to the nation 23 "Shuttle by Dalmia Bharat" is a High-Performance Centre in Odisha, dedicated for excellence in badminton. This architectural marvel, inspired by the design of a shuttlecock, is the first of its kind globally. Designed and constructed by us, the facility stands as a testament to our commitment of promoting excellence in badminton and building world-class infrastructure for the sport.
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AWARDS AND ACCOLADES S E C T I O N 05 24
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National Energy Conservation Award by Bureau of Energy Efficiency 1. Excellence in Safety, Health & Environment – Corporate 2. Excellence in Safety, Health & Environment – Dalmiapuram 3. Recognition in the field of Safety Project – Mr. Sunil Kumar Gupta ISEI Safety Award Sustainability Awards Tamil Nadu Best Employer Brand Award 2024 by HRD Congress Tamil Nadu Best Employer Brand Award 2024 25 1st Prize in energy conservation - Cement Sector to Kapilas Cement Works
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ANNEXURES S E C T I O N 06 26
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Operational performance (basis cement production) Particulars Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Cost of Raw Material Consumed 768 785 781 771 779 789 765 Power & Fuel 1,293 1,140 1,102 1,018 1,003 1,012 1,005 (Rs/T) 27
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(Rs Cr) Q3 FY25 Q3 FY24 With Restructuring Without Restructuring With Restructuring Without Restructuring Income from Operations 3,181 3,181 3,604 3,604 Less:-Operating Expenses 2,670 2,670 2,825 2,825 EBITDA 511 511 779 779 Add:- Other Income 37 37 60 60 Less:-Depreciation / Amortization 364 313 370 319 Less:- Finance Cost 101 101 108 108 Profit before share of profit in associate and joint venture and exceptional item 83 134 361 412 Impact on PBT due to Goodwill Amortization (Restructuring Related) 28
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CONTACT INFORMATION Corporate Office: 11th & 12th floor, Hansalaya Building, 15, Barakhamba Road, New Delhi – 110001 e: investorrelations@dalmiabharat.com w: www.dalmiacement.com Thank You