India Cements' Q3 net profit down; co looks to hike exports

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26 Aug, 2025 12:21

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India Cements reported a decline in net profit by 98 percent to Rs 42 lakh in the quarter ended December 31, 2013 from Rs 26 crore during the same period last year. The company’s sales dipped 4.1 percent from Rs 1,082 crore to 1,037 crore. N Srinivasan, Vice-Chairman and Managing Director, India Cements, said, “We have performed slightly better than last quarter. EBIDTA has gone up to Rs 146 crore, our volumes are slightly lower but that is because the market was sluggish. With the busy season starting, we hope demand picks up”For India Cements, sales have gone down by over 2 lakh to 22.37 lakh tonne in the quarter ended December compared to 24.3 lakh tonne in the preceding three months and this has offset an increase in realisation. Net price realisation has moved up to Rs 3,466 for the third quarter from Rs 3,090 registered during the second quarter of 2012-2013, he added.  N Srinivasan said, “The cement sector was growing at 14 percent, but the growth of this industry in December was only 1 percent. Practically, one percent growth is no growth at all.”The company’s plant utilisation is at 65 percent in the quarter ended December 2013. “We have capacity overhang in the South but there is hardly any demand as the market is stagnant’, he added. Giving a break up, he said in North the capacity utilisation was about 80-85 percent, our Rajasthan plant is running at 90 percent while in the south, it is less. It may be noted that the company has set up 4 plants in Andhra Pradesh and the Telangana issue does have an impact on this industry.However, the company is now looking at increasing exports. Currently, the company is exporting 50,000 tonnes to Sri Lanka and targets to export over 1.75 lakh tonnes to Sri Lanka and other markets.