Heidelberg Cement India declares Q3FY22 result: Volume decreased by c.11% y/y whereas average selling price increased by 1.8% y/y. Total operating cost (incl. freight) per tonne increased by 12.7% y/y mainly due to significant increase in fuel, packaging, and diesel cost. The Company reported EBITDA of Rs 607 per tonne, decrease of c.36% y/y. The Company has repaid MINR 1,200 towards third and final tranche of 10.4% Non-Convertible Debentures on 16 December 2021. With this repayment, the Company has fully redeemed 10.4% Non-Convertible Debentures aggregating to MINR 3,700 issued on 16 December 2013. As of December 31, 2021, cash and bank balance stood at MINR 1,811, net of outstanding borrowings. Result PDF
Highlights: Volume increased by c. 11% y/y whereas average selling price remain flattish y/y. Total operating cost (incl. freight) per tonne increased by 6.7% y/y mainly due to significant increase in fuel, packaging and diesel costs. The Company reported EBITDA of Rs 946 per tonne, decrease of c.17% y/y. In its commitment towards CO2 reduction, the Company signed a long-term Power Purchase Agreement to source c. 22 Gigawatt hours p.a. solar power for its Jhansi plant, expected to start solar power supply in quarter ending December 2021. The Company distributed dividend of Rs 8 per share; as at September 30, 2021, the Company had net cash balance of c. Rs 796 million. Result PDF