Orient Cement’s (ORCMNT) Q1FY24 EBITDA declined ~3%/29% YoY / QoQ to ~INR 1bn primarily due to the maintenance shutdown taken at its Chittapur kiln (in Karnataka). Despite operational bottlenecks, ORCMNT reported robust volume growth of +15% YoY to 1.59mnte (down 7.5% QoQ), while cement realisation improved 1.8% QoQ (flat YoY) led by higher sales of premium products.