Ramco Cements opened 1% in the green at Rs.1069.45 but profit booking at this level, pushed down the stock price to Rs.1019, down 4%. Its currently remains in the red at Rs.1029 levels.
The company announced its earnings for Q1FY22, wherein it reported a 54% (YoY) increase in net profit at Rs.169 crore in a 17% rise in revenue at Rs.1235 crore. Cement sales rose 11% at 21.41 lakh tonnes. Better prices and tight cost control helped put up this performance,
EBIITDA was up 37% at Rs.370 crore. There has been an overall increase in expenditure with cost per tonne showing an increase from Rs.797 to Rs.828, up 4%. Cost of power and fuel per tonne rose 32% at Rs.1031.
The company incurred a capex of Rs397 crore during Q1, commissioning Line III of Jayanthipuram Plant with a clinker manufacturing capacity of 1.50 million tonnes per annum in the last week of June.
Th company is planning an expansion-cum-modernisation programme involving Rs.476 crore at its Ramasamy Raja Nagar factory in Tamil Nadu. The unit is expected to be commissioned in 15 months from the receipt of Environment clearance.