The Ramco Cements Ltd Share Price – NSE  /  BSE

Cement, Small Cap

With this commissioning of the capacity, total operating capacity of waste heat recovery system for the company has gone up to 43 MW.

The firm's wind power capacity, including its subsidiary's capacity of 40 MW, stands at 166 MW.

The company said that its entire green power capacity of 85 MW including the capacity available in the subsidiary company would be used for captive purpose. On an annualised basis, the share of green power is expected to reach 45% of the total energy consumption.

Further it added that its efforts towards augmenting of Green Energy sources, reduces the reliance on fossil fuels and minimises the Green House Gas emissions, leading to lower environmental footprint, in the cement production.

The Ramco Cements (TRCL) is a reputed cement manufacturer in India and markets its products under the Ramco brand. The company also has two modest-scale subsidiaries, Ramco Windfarms (with a 39-MW windmill capacity) and Ramco Industrial and Technology Services (which is into transport services, manpower services and IT).

The Ramco Cements reported 31.75% drop in consolidated net profit to Rs 74.41 crore in Q1 FY24 from Rs 109.02 crore in Q1 FY23. Revenue from operations jumped 26.26% to Rs 2,246.66 crore in Q1 FY24 as compared with Rs 1,779.41 crore in Q1 FY23.

The scrip fell 0.22% to Rs 919.40 on the BSE.

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The Ramco Cements has commissioned the balance capacity of 3 MW of Waste Heat Recovery System out of 12 MW capacity. With this, total operating capacity of Waste Heat Recovery System for the Company has gone up to 43 MW.

The Company's wind power capacity, including its subsidiary's capacity of 40 MW, stands at 166 MW.

The company further added, 'We have earlier informed of the change in utility of wind power from 'Sale to Board' to 'Captive Usage' for 133 MW, out of 166 MW. Further, our application for conversion of further capacity of 33 MW from 'Sale to Board' to 'Captive Purpose' is pending with State Electricity Board. The appeal filed by the State Electricity Board before the Honourable Supreme Court of India against the favourable order given by the Honourable Madras High court in favour of the Industries, with regard to Wheeling and Banking of Power from wind mills has been dismissed. Hence, the Company is eligible to get this capacity transferred to captive use. With the average PLF of 25%, the generation of wind power for captive use is expected to be 42 MW.'

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Revenue from operations jumped 26.26% to Rs 2,246.66 crore in Q1 FY24 as compared with Rs 1,779.41 crore in Q1 FY23.

During Q1FY24, the sale volume stood at 4.30 million tons, compared to 3.34 million tons in the Q1FY23 with a growth of 29%, the company said that but for the non-availability of sand in Kerala, supply disruption due to rail accident in Orissa and West Bengal and active monsoon in NE, the growth in sale volume could have been better for the current quarter.

EBIDTA for Q1FY24 is Rs 349 crore as against Rs 308 crore during Q1FY23 with growth of 14%. EBIDTA margin was affected due to elevated fuel prices and weak cement prices in the markets where the company operate.

Blended EBIDTA per ton for the Q1FY24 is Rs 812 as against Rs 921 during Q1FY23.

Interest cost for the Q1 FY24 is Rs 93 crore, was up 97.87% as against Rs 47 crore during the Q1FY23. Depreciation for the Q1FY24 is Rs 148 crore, increased 39.62% as against Rs 106 crore during the Q1FY23, The increase of interest & depreciation is due to commissioning of Kolimigundla integrated unit, RR Nagar Line-3 and Dry Mortar Plants in RR Nagar and Salem.

In Kolimigundla, balance 3 MW WHRS will be commissioned in Aug-23, and TPP of 18 MW and railway siding will be commissioned in 2023-24. With regard to expansion of capacity of its dry mix, products in AP & Orissa will be commissioned during 2023-24.

The company has incurred Rs 284 crore during Q1FY24 for the said capacity expansion including regular capex.

The net debt as on 30 June 2023 was Rs 4,406 crore, out of which Rs 479 crore is for working capital. The average cost of interest-bearing borrowings for the Q1FY24 is increased to 7.95% from 6.66% in Q1 FY23.

The Ramco Cements (TRCL) is a reputed cement manufacturer in India and markets its products under the Ramco brand. The company also has two modest-scale subsidiaries, Ramco Windfarms (with a 39-MW windmill capacity) and Ramco Industrial and Technology Services (which is into transport services, manpower services and IT).

The scrip rose 0.13% to Rs 875.15 on the BSE.

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Net profit of The Ramco Cements declined 31.75% to Rs 74.41 crore in the quarter ended June 2023 as against Rs 109.02 crore during the previous quarter ended June 2022. Sales rose 26.26% to Rs 2246.66 crore in the quarter ended June 2023 as against Rs 1779.41 crore during the previous quarter ended June 2022.

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