Thanks to the 38% (YoY) rise in  net sales at Rs.490 crore and Rs.15 crore coming in via recovery of old dues earlier written off, the company has shown a whopping almost 8 times (YoY) surge in net profit at Rs.51 crore. But sequentially, the growth in net profit is flat, up just 1%. The company did a good job when it came to keeping a lid on expenses. QoQ, all expenses were down, especially power and fuel which was down 5% and transport/clearing and forwarding charges were down 8%. Total operating expenses were down 8%. Its total debt currently stands at Rs.1166 crore.

The company issued secured debentures of Rs.49.79 crore, carrying a coupon rate of 9% to the erstwhile term lenders of Udiapur Cement Works and this was pursuant to the BIFR approved scheme of rehabilitation, which the company has taken up for implementation. The market is also happy with the company stating that to spend Rs 350 crore to revive its Udaipur plant as part of its move to augment capacity. The revival of the plant is expected to be completed by September-October 2014. Over the next two years, the company plans to nearly double its capacity to 10 MT and its current capacity stands at 5.3 MT.