Consistent Good Performance

Dalmia Bharat Limited today announced its audited consolidated financial results for the Quarter and Year ended March 31, 2018.

Key Highlights:
• Corporate restructuring is in final stages, expected to be completed shortly. Dividend to be considered post implementation of amalgamation/merger schemes.

• The Company’s Gross Debt as on March 31, 2018 stood at Rs. 7,275 crore; repaid Rs. 775 crore during the year.

• The Net Debt as on March 31, 2018 stood at Rs. 3,513 crore, reduced by Rs. 1,720 crore during the year. Net Debt to EBITDA reduced to 1.72x from 2.76x (YoY)

Operational Performance:
The Company delivered strong performance amidst challenging market conditions. Sales volume for the year was up 11% YoY. The EBITDA was up 8% at Rs. 2,042 crore. During the year there was considerable pressure on costs; petcoke prices were risen 29% (YoY) and slag costs were up 57% (YoY). Our focused efforts on branding, logistics management and operating leverage due to improved volumes helped us mitigate the challenges.

The Company is committed to further optimize cost on continued basis through adopting environmental friendly processes. During Q4 FY18, we have commissioned Waste Heat Recovery System (WHRS) of 9.2 MW at Rajgangpur, Odisha. The benefits of the same will be visible in the near future. The Company intends to set up WHRS of 16 MW at other locations as well. This would take our renewable power capacity (Solar + WHRS) to over 33 MW which would account for 16% of the total power capacity. The Company is a strong proponent of alternate fuel. In future, we intend to increase by 2x. We are also geared to optimize product mix further to improve profitability.

Key Updates:
Kalyanpur Cement, Bihar – Our resolution plan was approved by NCLT on 31st January, 2018. We have initiated the process for revival of the plant. We plan to commence plant operations by Sep’18.

Murli Cement, Maharashtra – NCLT approval is awaited. We expect to take charge of the plant in the next couple of months.

The Board of Directors has approved capital expenditure for a new cement plant of 7.8 MnT in the Eastern region.

Outlook
We are witnessing good progress on various Government projects (roads, irrigation, metro railways, affordable housing etc.) which led to an improved cement demand growth of 6% YoY in FY18. We expect momentum to further pick up and expect cement demand growth of 8% in coming years. Our strategy of strengthening the brand and continuously improvising on efficiency parameters has created opportunities. Our goal is to continuously improve our operations and performance.

Dalmia Bharat Ltd.
Dalmia Bharat Limited (DBL) (BSE Code: 533309|NSE Symbol: DALMIABHA and listed in MSE), part of the Dalmia Bharat Group, is a pioneer in cement manufacturing and applications since 1939. With an expanding India footprint and a growing capacity currently pegged at 25 MTPA, Dalmia Cement is also the third largest manufacturing unit in the country. Spread across eight states and 11 manufacturing units, the company is a category leader in super-specialty cements used for oil well, railway sleepers and air strips and is the country’s largest producer of slag cement. Dalmia Cement has also partnered recently with International Finance Corporation to promote sustainable business. Visit us at http://www.dalmiabl.com