Heidelberg Cement India Announced Q1FY23 Result : Revenue increased by c. 6% YoY driven by an increase in prices by 13% and partially offset by a decrease in volume by c. 6%. On a per tonne basis, total operating cost including freight increased by 24% YoY due to an unprecedented increase in coal, pet coke, diesel, and packaging costs. The increase in operating cost was partially offset by an increase in prices by 13% resulting in EBITDA of Rs 855 per tonne, a decrease of c. 23% YoY. The Company started receiving Solar Power under its long-term power purchase agreement for the Jhansi plant. The contracted capacity is 15 Mega Watt and the Company is expected to receive 22 Gigawatt Hours of solar power annually. As a result of an increase in green power across various plants, the Company's overall share of green power increased to 30%. The Company has moved to a concessional Income tax regime from FY 2022 - 2023 and therefore calculated the corporate tax @ 25.168% (including Surcharge and Cess) under section 115BAA of Income Tax Act, 1961. As at June 30, 2022, gross cash and bank balance stood at Rs 4,584 million as against total borrowings Rs 2,346 million, i.e. net cash balance of Rs 2,238 million. Result PDF
Heidelberg Cement India announced Q4FY22 results: Q4FY22: Revenue increased by 1 % YoY driven by higher prices by 2.4% partially offset by lower volume by 1.4%. On a per tonne basis, total operating cost incl. freight increased by 13.6% YoY mainly due to higher coal, petcoke, diesel and packaging costs. The increase in operating cost was partially offset by increase in other operating income mainly pertaining to SGST incentive from Govt. of Madhya Pradesh. The Company reported EBITDA per tonne of Rs 961 per tonne, decrease of 21 % YoY. The Company reported Profit After Tax of Rs 936 million, decrease of 33% YoY. The Company commissioned a Plant to use Alternate Fuels to achieve Thermal Substitution of 5% (first phase) at its Narsingarh clinker plant in Madhya Pradesh; this project is expected to reduce CO2 of 42,000 tonnes per annum. The Company has also commissioned 5.5 Mega Watt Solar Power Plant at its plant located at Patharia Mines; the solar plant is expected to generate 10 Gigawatt Hours per annum and will save CO2 of 225,000 tonnes over the lifetime. FY22: The Company sold a volume of 4.8 million tonnes, increase of 6.5% YoY; cement capacity utilization increased from 72% in FY21 to 76% in FY22. On a per tonne basis, price remained flattish as compared to 9% increase in total operating cost incl. freight resulting in EBITDA of Rs 910 per tonne, decrease of 20% YoY. Hardening of power and fuel prices was partially offset by power generation from Waste Heat Recovery System (WHRS). The Company's green power share increased to more 23%. The Company has also contracted for Solar Power aggregating to 22 Gigawatt Hours per annum and has started consuming this power from April 2022. The Company has repaid its interest bearing Non-Convertible Debentures of Rs 1,200 million. As at March 31, 2022, cash and bank balance (net of outstanding borrowings) stood at Rs 1,344 million as against Rs 757 million as at March 31, 2021 Result PDF