Q3 2024 Ramco Cements Limited Earnings Call Transcript
Key Points
- Sales of cement improved by 10% year-over-year.
- Share of premium products increased to 27% from 26% in the corresponding period.
- Cement utilization rate rose to 74% from 70% in the corresponding period.
- Net revenue for the current quarter grew by 5%.
- EBITDA for the current quarter increased to INR402 crore from INR294 crore in the corresponding period, with a margin improvement from 15% to 19%.
- Cement prices were under pressure during the quarter.
- Heavy rains and cyclones in Tamil Nadu and Andhra Pradesh negatively impacted cement demand.
- Net debt increased to INR4,993 crore, with a net debt to EBITDA ratio of 3.22 times.
- Average cost of debt rose to 7.82% from 6.16% due to market rate increases.
- CapEx guidance for FY24 was revised upwards to INR2,000 crore from INR1,600 crore, indicating higher-than-expected expenditures.
Ladies and gentlemen, good day, and welcome to Ramco Cements Q3 FY24 earnings conference call hosted by Batlivala & Karani Securities India Private Limited.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Amit Srivastava from B&K Securities India Private Limited. Thank you. And over to you, sir.
Yeah. Thank you, Manav. Good afternoon, everyone. On behalf of B&K Securities, welcome you all to the 3Q FY24 earnings conference call of the Ramco Cements. We would like to thank the management for giving us the opportunity to host the call. We have with us from the management, Mr. M.F. Farooqui, Chairman; Mr. A. V. Dharmakrishnan, CEO; Mr. S. Vaidyanathan, CFO.
So we would start the call with the opening remarks from the Chairman, Mr. M.F. Farooqui and which will be followed by the Q&A. Over to you, sir.
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