Sagar Cements slides on reporting Q4 net loss of Rs 12 cr

12 May 2022 , 12:35 PM

Net sales rose 20.13% to Rs 501.72 crore in Q4 March 2022 over Q4 March 2021. Pre-tax loss stood at Rs 13.38 crore in Q4 March 2022 as against pre-tax profit of Rs 74.97 crore in Q4 March 2021. Sales Volume (MT) rose 10% to 11,27,902 MT in Q4 March 2022 over Q4 March 2021. The companys plants operated around 62% during the current quarter. Operating EBITDA stood at Rs 61.09 crore for Q4 FY22 and Rs 275.77 crore during FY22, down by 41% and 31%, respectively. EBITDA margin declined by 1,300 bps to 12% for Q4 FY22 (v/s Q4 FY21) while the same declined by 1,200 bps to 17% during FY22 (v/s FY21). Material cost per ton during Q4 FY22 was Rs 601 per ton as against Rs 670 per ton during Q4 FY21. The main reasons for increase in power & fuel cost is the significant increase in the prices of pet coke & imported coal. Higher diesel prices also considerably impacted the outward freight costs. Employee costs during Q4 FY22 amounted to Rs 236 per ton as against Rs 229 per ton during Q4 FY21. For the full year, net profit declined 62.93% to Rs 69.15 crore on 16.45% rise in net sales to Rs 1596.87 crore in the year ended March 2022 over the year ended March 2021. The board recommended a dividend of Rs 0.70 per equity share. Sreekanth Reddy, Jt. managing director of the company said: We are pleased with our performance for the quarter which witnessed a gradual pick up in volumes as well as realisations over the previous quarter. Realisations have further improved compared to the exit price of the quarter largely necessitated by the unrelenting increase in fuel prices. Demand sentiment as well is fairly buoyant, helping sustain the price revision. The increased volumes was largely owing to commissioning of new units. Our cost rationalization measures, and better inventory management helped us partly control the pressures of rising input prices. Going ahead, we believe the commissioning of the new units coupled with a strong balance sheet following the preferential allotment positions us well to deliver steady and consistent growth. The companys net debt stood at Rs 1340.66 crore as on 31 March 2022 compared with Rs 552.29 crore as on 31 March 2021. Sagar Cements is one of Indias leading cement manufacturer with an installed production capacity of 5.75 MTPA. Powered by Capital Market – Live News