Dalmia Bharat Ltd. · NSE:DALBHARAT
Dalmia Bharat — Q3 FY24 Earnings Presentation
30 slides from Dalmia Bharat's earnings presentation, Jan 24, 2024
Slide 1: Exchange filing cover letter – Earnings Release Q3 FY24
1010/02 January 24, 2024 BSE Limited National Stock Exchange of India Limited P J Towers, Dalal Street, “Exchange Plaza”, Plot No. C-1, Block G Fort Mumbai-400001 Bandra – Kurla Complex, Bandra(East), Scrip Code: 542216 Mumbai – 400 051 Symbol: DALBHARAT Subject: Earnings Release / Investor Presenta
Slide 2: Earnings Release Q3FY24 and 9MFY24
EARNINGS RELEASE Q3FY24 and 9MFY24
Slide 3: Disclaimer
Disclaimer Certain statements in this presentation describing the Company's objectives, projections, estimates and expectations may be 'forward looking statements' within the meaning of applicable laws and regulations. Although our expectations are based on reasonable assumptions, these forward-look
Slide 4: Table of Contents
PA G E SECTION NO. 01. Key Highlights 4 02. Expansion and Capex Update 6 03. Q3 and 9M FY24 Performance 9 TA B L E O F CO N T E N T S 04. ESG Update 19 05. Awards and Accolades 22 06. Annexures 26 3
Slide 5: Key Highlights
SECTION 01 KEY HIGHLIGHTS 4
Slide 6: Key Highlights
Key Highlights Performance ▪ Sales Volume increased by 8.1% YoY to 6.8MnT ▪ EBITDA increased by 20.3% YoY to Rs. 775 Cr ▪ Net Debt/EBITDA reduced to 0.16x ▪ CO2 emissions stands at 459 kg*/Ton of cement during Q3’FY24 Capacity ▪ Commercial production started - Cement (0.9Mnt) at Belgaum, Karnataka ▪
Slide 7: Expansion and Capex Update
SECTION 02 EXPANSION AND CAPEX UPDATE 6
Slide 8: Organic Cement Capacity Expansion Plan – 49.5 MnT
Organic Cement Capacity Expansion Plan – 49.5 MnT Region Plant Capacity Closing Capacity FY22 35.9 East Bokaro, JH 0.6 North East Adhunik, ML 0.2 East Rajgangpur, OR 0.3 +0.5 MnT East Kapilas, OR 0.3 EAST North East Calcom, AS 1.3 East Bokaro Line 2, JH 2.5 East Medinipur, WB 0.6 South Sattur, TN 2.
Slide 9: Announced Clinker Capacity Expansion Plan
Announced Clinker Capacity Expansion Plan Figures in MnT South East North East West Total Present 9.9 7.7 2.7 2.1 22.4 FY24 10.1 7.7 2.7 2.1 22.6 FY25 10.4 8.3 2.7 2.1 23.5 FY26 10.4 8.3 6.3 2.1 27.1 Note: Capacity is excluding the acquisition of clinker assets of Jaiprakash Associates 8
Slide 10: Q3 & 9M FY24 Performance
SECTION 03 Q3 & 9M FY24 PERFORMANCE 9
Slide 11: Financial Performance – Sales Volume
Financial Performance Quarterly Sales Volume 9 Month Sales Volume (MnT) (MnT) Growth: 8.1% Growth: 9.1% Growth: 10.5% 20.0 6.8 6.3 6.2 18.3 Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 10
Slide 12: Financial Performance – Revenue
Financial Performance Quarterly Revenue 9 Month Revenue (Rs Cr) Growth: 7.3% (Rs Cr) Growth: 7.7% Growth: 14.3% 3,600 10,373 3,355 9,628 3,149 Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 11
Slide 13: Operational Performance – Raw Material Cost
Operational Performance Quarterly Cost of Raw Material Consumed^ 9 Month Cost of Raw Material Consumed^ (Rs/T) (Rs/T) Decrease: 0.1% Increase: 3.6% Decrease: 0.6% 778 750 781 785 781 Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 ^ Basis Cement Production (not sales volume) 12
Slide 14: Operational Performance – Power & Fuel Cost
Operational Performance Quarterly Power & Fuel Cost^ 9 Month Power & Fuel Cost ^ (Rs/T) Decrease: 22.8% (Rs/T) Decrease: 20.9% Decrease: 3.3% 1,494 1,427 1,140 1,181 1,102 Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 ➢ Decline in Power & Fuel cost on YoY basis is mainly due to softening in commodity prices (~
Slide 15: Operational Performance – Logistics Cost
Operational Performance Quarterly Logistics Cost 9 Month Logistics Cost (Rs/T) (Rs/T) Increase: 1.1% Decrease: 2.1% Increase: 6.5% 1,081 1,093 1,114 1,091 1,024 Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 ➢ Decrease in logistics costs on a YoY basis attributed to decline in lead distance by ~20kms ➢ Above sa
Slide 16: Operational Performance – Total Cost per Tonne
Operational Performance Total Cost /T 4,301 4,153 4,147 4,380 4,205 776 749 765 766 747 317 306 335 Others 367 324 1081 Employee Costs 1114 1093 1024 1091 Freight Charges Power & Fuel 1534 1165 1529 1132 1066 Raw Material Consumed (Inc)/Dec in stock 784 928 939 754 924 -197 -64 -20 -81 -61 Q3FY23 Q2
Slide 17: Financial Performance – EBITDA
Financial Performance Quarterly EBITDA 9 Month EBITDA (Rs Cr) (Rs Cr) Margins 19.2% 18.7% 21.5% 16.7% 19.0% Increase: 22.7% Increase : 20.3% Increase: 31.5% 1,974 775 1,609 644 589 Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 ➢ Q3 EBITDA improved YoY mainly due to softening in commodity prices ➢ Above gain wa
Slide 18: Financial Performance – Debt Position
Financial Performance Debt Position Net Debt / EBITDA 0.59x 0.16x (Rs Cr) Sept’23 Dec’23 * Includes MTM value of IEX Investment (Q2FY24: Rs 1760 Cr Q3FY24: Rs 2236 Cr) 17
Slide 19: Finance Cost
Finance Cost Q3FY24 108 (Rs Cr) Cost of Borrowing 8.3% Total Finance Cost Q3FY23 69 (Rs Cr) Cost of Borrowing 7.6% Total Finance Cost 18
Slide 20: ESG Update
SECTION 04 ESG UPDATE 19
Slide 21: WHRS and Solar Power Update
WHRS and Solar Power Update Renewable Energy Power 12x WHRS Solar 250 Total Renewable Power - MW 202 200 177 166 150 130 107 100 100 63 50 32 32 17 17 66 70 72 8 10 8 31 9 9 22 - FY19 FY20 FY21 FY22 FY23 Q3FY24 FY24E ➢ In line with the commitment towards RE100 by 2030 & Carbon Negative by 2040, Dalm
Slide 22: CSR at Dalmia Bharat
CSR at Dalmia Bharat Activities at CSR Climate Action : 20,000+ trees were Social Infrastructure : In Rajgangpur, Livelihood : Launched the 19th DIKSHa planted across Ariyalur, Dalmiapuram, under Project DRUSHTI, 10,106 center at Lanjiberna – aims to serve 106 USO, and Bokaro locations to enhance in
Slide 23: Awards and Accolades
SECTION 05 AWARDS AND ACCOLADES 22
Slide 24: CII SCALE Logistics & Supply Chain Excellence Awards
CII SCALE Logistics & Supply Chain Excellence Awards Most Innovative Delivery Models in Cement Supply Chain 23
Slide 25: Sustainability Awards
Sustainability Awards Business World Sustainable 23rd Annual Greentech World Conclave and Awards 2023 Environment Award 2023 “India's best circular economy champion of the year” Outstanding Achievements in Environment Protection 24
Slide 26: Other Awards and Accolades
Other Awards and Accolades 38th Mines Safety & 47th 17th edition of the National CII National Award for Excellence in Water Kalinga Safety Productivity Council kaizen competition Management 2023 Excellence Award Observance - 2023 ❑ Safety Initiatives in ❑ Platinum and Jury ❑ Noteworthy Water Efficie
Slide 27: Annexures
SECTION 06 ANNEXURES 26
Slide 28: Operational performance (basis cement production)
Operational performance (basis cement production) (Rs/T) Particulars Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Cost of Raw Material 704 767 781 740 768 785 781 Consumed Power & Fuel Cost 1,527 1,536 1,427 1,281 1,293 1,140 1,102 27
Slide 29: Impact on PBT due to Goodwill Amortization (Restructuring Related)
Impact on PBT due to Goodwill Amortization (Restructuring Related) (Rs Cr) Q3’FY24 Q3’FY23 With Restructuring Without Restructuring With Restructuring Without Restructuring Income from Operations 3,600 3,600 3355 3355 Less:-Operating Expenses 2,825 2,825 2711 2711 EBITDA 775 775 644 644 Add:- Other
Slide 30: Thank You
CONTACT INFORMATION Thank You Corporate Office: 11th & 12th floor, Hansalaya Building, 15, Barakhamba Road, New Delhi – 110001 e: investorrelations@dalmiabharat.com w: www.dalmiacement.com