Ramco Cements Q2 FY 2021-22 net revenue increases by 19% to Rs 15bn

Ramco Cements has reported net revenue of INR 1,501 crores for the second quarter of the fiscal year 2021-22 (Q2 FY 2021-22), an increase of 19% compared to INR 1,265 crores during the same quarter of the previous year.

The EBIDTA of the Indian cement manufacturer for the reported quarter was INR 402 crores, an 11% decline compared to INR 450 crores during Q2 FY 2020-21. The decline was because of an increase in operating costs.

Ramco Cements said that the sale of cement in Q2 FY 2021-22 stands at 2.71 million tons, a growth of 23% compared to 2.21 million tons in the corresponding quarter of the previous year.

The utilization rate, on the other hand for the reported quarter was 74%, compared to 70% in Q2 FY 2020-21, based on clinker capacity.

Ramco Cements Q2 FY 2021-22 net revenue increases by 19% to Rs 15bn. Photo courtesy of Rohith Adithya/Wikipedia.org.

The company said that cement demand during the current quarter was impacted in the eastern markets because of heavy monsoon. In the southern market, cement demand came down in Kerala owing to weekend lock downs and heavy monsoon during the present quarter.

Ramco Cements stated: “Company’s strategy of right cement for right applications yielded positive results. We see strong signs of demand recovery in the coming quarters.

“The company continue to focus on this to make its brand stronger and to gain market share.”