Sagar Cements announced Q3FY23 results: Consolidated Q3FY23: Revenue increased by 73% YoY and volume increased by 67% for Q3FY23. Plants operated around 60% during the current quarter. Operating EBITDA of Rs 4,758 lakhs for Q3FY23 as against Rs 4,675 lakhs during Q3FY22. Operating EBITDA of Rs 384 per ton during Q3FY23. EBITDA margin declined by 600 bps to 8% for Q3FY23 (vs Q3FY22). (Loss)/ Profit after tax stood at Rs (2,719) lakhs for Q3FY23 vs PAT of Rs 978 lakhs during Q3FY22 Consolidated & Standalone Q3FY23 & 9MFY23: 42% YoY increase in volumes during Q2FY23. Op. EBITDA of Rs 5,124 lakhs during Q2FY23 higher by 9% on a YoY basis. Op. EBITDA of Rs 489 per ton during Q2FY23 lower by 23% on a YoY basis Commenting on the performance, Mr. Sreekanth Reddy, Jt. Managing Director of the Company said, “While we have seen a good growth in our revenues for the quarter, profitability and margins were expectedly lower on account of higher input prices. Demand remained relatively steady benefiting from pick up in construction activities post-monsoon and festive seasons which in turn resulted in better volumes for the quarter. Higher volumes were also on account of the commissioning of new facilities. Realisations as well were broadly stable. Despite higher volumes, profitability and margins were expectedly lower amidst elevated input prices. While we have seen cooling off in prices of some of the key raw material components from their recent highs, overall, they continued to trend higher. Our efforts towards containing costs and improving overall efficiencies continue to progress well. We have undertaken multiple steps in the recent past towards improving our operational infrastructure by building railway sidings, captive power plant and waste heat recovery systems and are hopeful of benefiting from them over the coming years. Another noteworthy development has been the Resolution Professional of Andhra Cements Limited declaring us as the successful Resolution Applicant. We have received the letter of Intent (LoI) in this regard, which has been accepted by the Company, it is subject to further approvals as may be required from the authorities concerned. The acquisition of Andhra Cements Limited is aligned with our strategy of consolidating our presence in established markets to better serve our customers in a cost efficient and timely manner. The acquisition also helps us to meet our stated objective of reaching 10 MnT capacity by 2025. Moving forward, our diversified geographic reach, cost-saving strategies, improved product offerings, and robust financial position will enable us to perform well and generate value consistently for all our stakeholders.” Result PDF