Cambios para el documento The Ramco Cements Limited
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... ... @@ -117,9 +117,8 @@ 117 117 = Industry Overview = 118 118 119 119 120 -According to the Cement Manufacturers Association, the total installed capacity in Indian cement sector is ~~545 million tons per annum (MTPA) and it is the fourth-largest revenue contributor to the exchequer. The Indian cement sector accounts for over 7% of the global installed capacity and is the second-largest in the World after China. Covid-19 pandemic has had a severe hit on the cement sector leading to a demand contraction of about 10-13% in FY 2020-21, following lockdown measures taken by the Indian government to curb the spread of global pandemic in the country. This also negatively impacted capacity utilization levels of the domestic manufacturers. 120 +According to the Cement Manufacturers Association, the total installed capacity in Indian cement sector is ~~545 million tons per annum (MTPA) and it is the fourth-largest revenue contributor to the exchequer. The Indian cement sector accounts for over 7% of the global installed capacity and is the second-largest in the World after China. Covid-19 pandemic has had a severe hit on the cement sector leading to a demand contraction of about 10-13% in FY 2020-21, following lockdown measures taken by the Indian government to curb the spread of global pandemic in the country. This also negatively impacted capacity utilization levels of the domestic manufacturers.{{footnote}}http://ramcocements.net/ramcocements/pdffiles/RAMCO%20CEMENTS%20AR%202021.pdf{{/footnote}} 121 121 122 -[[http:~~/~~/ramcocements.net/ramcocements/pdffiles/RAMCO%20CEMENTS%20AR%202021.pdf>>url:http://ramcocements.net/ramcocements/pdffiles/RAMCO%20CEMENTS%20AR%202021.pdf]] 123 123 124 124 125 125 The demand offtake was particularly tepid in metros/tier 1 cities. Diversion of Government funds towards health and public welfare led to lower capex in cement projects weighed on demand growth as Government-led projects account for 35-40% of total demand. Recovery post opening up of businesses was slower owing to weak business sentiment and labour availability issues. The only relief was the rural demand which showed good offtake led by reverse migration and steady farm incomes even amidst lockdown. Overall impact on cement volume is expected to be 2% decline as a swift recovery in last quarter of FY 2020-21 compensated for the 31% decline in volume witnessed in the first quarter of the fiscal. Infrastructure push by the Government, a pick-up in real-estate demand and industry consolidation resulted in increase in pan-India cement prices in March 2021. ... ... @@ -134,25 +134,28 @@ 134 134 Due to the increasing demand in various sectors such as housing, commercial construction and industrial construction, cement industry is expected to reach 550-600 MTPA by 2025. 135 135 136 136 137 -Business Overview 136 += Business Overview = 138 138 139 139 140 -Cement Division 139 +== Cement Division == 141 141 142 142 During the year ended 31 March 2021, the Company had sold 99.77 lakh tons of cement, compared to 112.03 lakh tons of the previous year. Due to the outbreak of COVID-19, Government had imposed lockdown since March 2020, which continued till first half of the year 2020-2021 with various levels of restrictions. The outbreak and the restrictions imposed on the movement of goods affected the construction industry, impacting the sale of cement for the year under review. The Company took various precautionary measures, with regard to safety of the employees and employees of the transporters and other contractors. The Company adhered to the various safety instructions issued by the State and Central Governments with regard to running of its factories and offices. These timely measures enabled the Company to resume its operations at the earliest possible periods. But for these steps, the impact of the COVID-19 on cement sales would have been higher. 143 143 144 144 During the year under ended March 31, 2021, the Company has exported 0.62 lakh tons of cement as against 2.30 lakh tons during the previous year. The export turnover of the Company for the year was Rs 23.22 crores as against Rs 113.71 crores of the previous year. 145 145 146 -Ready Mix Concrete Division 147 147 146 +== Ready Mix Concrete Division == 147 + 148 148 The Division has produced 26,952 cu.m of concrete during the year, accounting for a revenue of Rs 11.92 crores (Net of duties and Taxes) as against 32,999 cu.m. of concrete accounting for a revenue of Rs 14.16 crores (Net of duties and Taxes) during the previous year. 149 149 150 -Dry Mortar Division 151 151 151 +== Dry Mortar Division == 152 + 152 152 The Division has produced 37,049 tons of Dry Mortar during the year as against 38,739 tons produced during the previous year. The Division has sold 36,694 tons of Dry Mortar accounting for a revenue of Rs 29.70 crores (Net of duties and Taxes) during the year as against 38,329 tons of Dry Mortar accounting for a revenue of Rs 30.59 crores (Net of duties and Taxes) during the previous year. 153 153 154 -Wind Farm Division 155 155 156 +== Wind Farm Division == 157 + 156 156 The Division has generated 2,141 lakh units as compared to 2,268 lakh units in the previous year. Out of this, 2,062 lakh units were generated from the wind farms in Tamil Nadu and 79 lakh units from the wind farms in Karnataka. Out of the units generated in Tamil Nadu, 283 lakh units were meant for adjustment against the power consumed in the Company’s plants and balance 1,779 lakh units have been sold to Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for a value of Rs 53.30 crores. 157 157 158 158 The 79 lakh units generated during the period under review in Karnataka have been banked with Bangalore Electricity Supply Company Limited (BESCOM). Out of this, the company had sold 61 lakh units to third parties for a value of Rs 2.64 crores and the same had been realised. The balance 18 lakhs units lying in banking with BESCOM will be sold to third parties during subsequent periods. ... ... @@ -161,23 +161,25 @@ 161 161 162 162 The income during the year from the Division was Rs 56.42 crores as against Rs 58.07 crores of the previous year. 163 163 164 -Power Plants 165 165 167 +== Power Plants == 168 + 166 166 The Company’s thermal power plants aggregating to a capacity of 175 MW are located at its cement manufacturing plants. The power generated from the thermal power plants were used for self-consumption in the cement manufacturing. 167 167 168 168 169 -New Projects 172 +== New Projects == 170 170 171 -Cement Plants 174 +**Cement Plants** 172 172 173 173 In the Board’s Report for the year ended 31-03-2020, it was informed about the progress of establishment of Company’s Line III at the existing Jayanthipuram Plant with a clinkerisation capacity of 1.5 Million Tons Per Annum (MTPA). It was also informed that the plant will have a Waste Heat Recovery System to generate 27 MW of power. As against the project cost of Rs 740 crores as informed in the Board’s Report for the year ended 31-03-2020, the cost of the project now stands revised at Rs 910 crores. The increase in the cost of the project by Rs 170 crores is mainly due to, inclusion of additional features such as, slag hopper, clinker export system, larger sized limestone stacker reclaimers, belt conveyors, upgradation of interface automation, Intelligent Motor Control Centre and additional transformers. 174 174 175 -Grinding Units 176 176 179 +**Grinding Units** 180 + 177 177 In the Board’s Report for the year ended 31-03-2020, it was informed that the Company had expanded its Kolaghat grinding unit with another line of grinding capacity of 1.05 MTPA at a cost of Rs 386 crores. It was also informed that the Mill was commissioned in September 2019 and subsequently during the year under review, the Railway Siding was commissioned in September 2020. 178 178 179 179 180 -Financial Highlights 184 += Financial Highlights = 181 181 182 182 183 183 The company has sold 9.98 MnT of cement for the year ended 31 March 2021 as against 11.20 MnT during the previous year, with a de-growth in volume of 11%. There is a de-growth in volume in southern markets due to COVID-19 and prolonged monsoon. However, the volume has grown in the eastern markets. During the year, the average net realisable sale price of cement has improved by 10%. Though the volume de-growth for the year is 11%, the drop in net revenue is only 2% because of improvement in cement prices and improvement in sale of premium products during the year. The company’s strategy in offering its customers with right products for right applications has reinforced its market position with better market mix and premiumisation of its products. ... ... @@ -192,14 +192,14 @@ 192 192 193 193 The interest coverage ratio increased from 5.56 times in the previous year to 6.53 times in the current year due to improved operating margin. The Gross interest on the borrowings for the current year was Rs 187.87 Crores and out of which, Rs 100.25 Crores was capitalised as part of eligible qualifying assets. Finance costs accounted for 1.65% as against 1.32% in the previous year. 194 194 195 -Profitability 196 196 200 +**Profitability** 201 + 197 197 EBIDTA grew by 35% from Rs 1,173.82 Crores in FY 2019-20 to Rs 1,582.60 Crores in FY 2020-21. The EBITDA margin for the current year stood at 29.84% as against 21.71% in the previous year. Blended EBITDA per ton is increased by 51% from Rs 1,048 per ton to Rs 1,586 per ton. 198 198 199 199 The company has achieved a Profit Before Tax of Rs 1,139.68 crores during the year and thus crossing the Rs 1,000 crores mark for the first time. Profit After Tax (PAT) increased by 27% from Rs 601.09 Crores to Rs 761.08 Crores led by improved prices and cost reduction. The PAT margin stood at 14.35% as against 11.12% in the previous year. 200 200 201 201 202 - 203 203 June 2021 Result 204 204 205 205 Ramco Cements Q1 net profit up 46% to Rs 172 crore on higher sales