Consolidated revenue from operations stood at Rs392.57cr rising by 49% in the quarter under review compared to Rs264.12cr in the same period last year.
The company's sales volume increased by 58% in Q1FY22 to 8,79,523 units compared to 5,55,312 units in Q1FY21.
Sreekanth Reddy, Jt. Managing Director of the Company said, "While we had a soft start to the fiscal given the disruptions caused by the second wave of the pandemic, we have started seeing a steady pick up in volumes across our key markets following easing of the lockdown restrictions. Realisations as well have remained encouraging, helping offset the impact of lower volumes for the quarter. Demand for Infrastructure projects and residential activities remains buoyant, helping sustain the recent volume momentum."
Reddy added, "Operating profitability remained under pressure owing to higher input prices and lower utilization levels. We have seen a steady pick up in the prices of coal, coke and diesel prices over the past few months which have exerted pressure on the margins. We continue to remain focused towards improving our efficiencies and containing costs. We expect rationalization of freight expenses going forward following completion of our MP and Odisha projects."
Going forward, Reddy said, "we believe we are well placed to create value for our shareholders. Our diversified geographical presence, better product mix and strategic cost initiatives position us well to deliver steady and consistent growth. We are also optimistic about achieving our objective of attaining 10 Mn MT capacity by 2025.”
At around 3.11 pm, Sagar Cements was trading at Rs1307.95 per piece down by 2.4% on Sensex.