Cement & Cement Products company Prism Johnson announced Q2FY25 results Q2FY25 revenue declined by 8.2% YoY mainly due to decline in Prism Cement revenue (declined by 17.3% YoY); HRJ and Prism RMC revenues declined marginally by 1.1% YoY and 0.4% YoY respectively. Prism Cement constituted 40.5% of Q2FY25 revenues; HRJ constituted 37.4% and Prism RMC constituted 22.1%. Q2FY25 EBITDA declined by 36.1% YoY; Prism Cement EBITDA / ton declined from Rs 364 in Q2FY24 to Rs 58 primarily due to lower realizations and maintenance shut-down costs; HRJ EBITDA declined by 18.4% YoY to Rs 34 crore. Q2FY25 EBITDA margin declined by 170 bps YoY to 3.7%; HRJ’s EBITDA margin declined by 130 basis points YoY to 5.9%; Prism RMC EBITDA margin increased by 600 bps YoY to 4.5%. Increase in Working Capital Days is largely attributable to decline in Creditor Days from 65 days in Q2FY24 to 52 days; Debtors Days remained healthy at 35 days in Q2FY25. Free Cash Flow (FCF) (pre-capex and investments) stood at Rs (181) crore in Q2FY25; primarily impacted due to LC payments of Rs 287 crore in Q2FY25. Net Debt to TTM EBITDA at 2.4x and Net Debt to Equity at 0.8x as on September 30, 2024; Total debt repayment obligation as of September 30, 2024 is Rs 20 crore for FY25 and Rs 305 crore for FY26. Annualized ROCE declined by 820 basis points YoY from 0.8% in Q2FY24 to (7.4%); Capital Employed increased by 3.1% YoY to Rs 2,433 crore in Q2FY25. Result PDF