HeidelbergCement India (500292) Q1 24/25 earnings summary

Executive summary

• Revenue for the quarter ended June 30, 2024, declined by 10.7% year-over-year to ₹5,322 million, primarily due to a 6% drop in sales volumes and a 5% reduction in prices.

• EBITDA fell 16% year-over-year to ₹780 million, with EBITDA margin decreasing by 93 basis points to 14.7%.

• Profit after tax dropped 23.7% year-over-year to ₹399 million.

Financial highlights

• Sales volumes for the quarter were 1,131 KT, down 6% from the same quarter last year.

• EBITDA per tonne decreased by 10.6% year-over-year to ₹690.

• Total operating cost per tonne, including freight, decreased by approximately 4% year-over-year, mainly due to lower fuel prices.

• Net cash position as of June 30, 2024, was ₹4,883 million, with cash & bank balances at ₹6,264 million and interest-free borrowings of ₹1,381 million.

Outlook and guidance

• The company increased its share of green power to 38% and alternate fuel to 11%, indicating a continued focus on sustainability and cost optimization.