Sales volumes grew 38%, supported by pressurized prices in southern India, from where Ramco derived 81% of its total volumes in the reported quarter
The company will also transfer a mining lease granted by the government over to Ramco Cements for an area of 663.46 hectares
While long term prospects of profitability look promising, the short term outlook is expected to improve from Q2FY24, Ramco Cements said.
The company's sale of products rose by 50.7 per cent to Rs 2,559 crore for the March quarter as compared to Rs 1,698 crore in the year-ago period
Except Ambuja Cements, Ultratech Cement, Ramco Cements, and India Cements need to surpass crucial key levels to lead to a rally ahead
The company's Ebitda declined 52 per cent YoY at Rs 193 crore, mainly due to sharp increase in fuel price and weak cement prices
Its cement capacity has gone up to to 21 mtpa with clinker capacity of 14 mtpa
Stock to watch today: Nykaa's board meeting will be held on October, 3 to consider and approve the issuance of bonus shares
Q2FY22 is generally a weak quarter for cement makers due to monsoon, but the quarter under preview has also been affected by rising coal and pet coke prices and a transporters' strike
The Ramco Cements Ltd on Tuesday reported a 46.10 per cent increase in consolidated net profit at Rs 171.67 crore for the quarter ended June, helped by growth in sales
MGL witnessed a fresh breakout from the consolidation range on June 15 and made new record highs as well
Sales by volume drop 8%, company cites extended monsoon in South for lower offtake
The huge thrust on infrastructure spending by the government in the Budget 2021-22 bodes well for construction materials such as cement and steel
Price stability, better sales of flagship and premium products in trade segment improve margins
Ramco Cements Ltd on Friday said it has commenced operations at its new cement grinding unit in Odisha, set up at a cost of about Rs 710 crore.
The company said the progress of the ongoing capex programme has been delayed due to Covid-19.
Revenue dropped 9.2 per cent to Rs 1,401.27 crore from Rs 1,543.47 crore
Expects Rs 3,530 crore expansion programme to be completed in near future
Currently, Ramo Cements' stock is hovering in a range, after a sharp up move, offering fresh buying opportunity to those who missed the chance earlier
Amid the gloomy GDP print; however, what is noteworthy is that the government spending rose sharply to 15.6 per cent during the quarter, as against 8.8 per cent in 1QFY20.