J K Lakshmi
The company has done very well for Q4FY14, with operational performance getting better on both YoY as well as QoQ front. Driven by good volume growth and better realizations, the company ended the quarter with a net profit at Rs.53 crore, up almost 4 times sequentially and YoY, it is up 61%. Net sales was at Rs.648 crore, up 29% (QoQ), up 21% (YoY). Production during the quarter was up 18% (YoY) and up 21% (QoQ) with realizations improving 2% (YoY). Its operating profit came in at Rs.136 crore, up 14% (YoY) and up almost 2 times sequentially. There was an exceptional item for the quarter at Rs.18.50 crore which was old dues on previous litigations.
The company ended FY14 with a consolidated net sales of Rs.2057 crore, an almost status quo kind of growth over FY13, where net sales was Rs.2055 crore. Net profit for the year was at Rs.94 crore, down 46%.
In FY14, the company increased its clinker capacity at Kiln -1 by 3..3 lakh MT to 46.20 lakh MT and after taking into account its expansion at Sirohi, the mother plant, the total cement capacity of the company stands at 66.5 lakh MT/annum. It has also commissioned the 6 MW solar plant in Rajasthan. It is also putting in place a Greenfield project in Chattisgarh and this is expected to go on stream by December 2014. Total consolidated borrowings as at 31st March 2014 stood at Rs.1454 crore and reserves is at Rs.1244 crore.