Hyderabad/Mumbai, 1st Aug 2024: Nuvoco Vistas Corp. Ltd., a leading building materials Company in India, announced its unaudited financial results for the quarter ended June 30, 2024. With 25 MMTPA of combined installed capacity, Nuvoco Vistas Corp. Ltd. is the fifth largest cement group in India and amongst the leading cement players in East India.
The Company’s consolidated cement sales volume stood at 4.8 MMT in Q1 FY25. Consolidated revenue from operations stood at Rs. 2,636 crores, during the same period. Consolidated EBITDA for the quarter stood at Rs. 348 crores.
Premium products remain a key focus for the Company, with their share in trade volume reaching a record high of 40% in Q1 FY25. To enhance brand equity, we launched an innovative campaign for Duraguard Microfiber Cement, a next-generation PPC variant designed to create awareness of its unique Microfiber technology, which results in structures with high strength, damp resistance, and minimal cracks. Additionally, the Company introduced ‘Concreto UNO’, a premium cement variant in West Bengal, catering to the growing demand for high-quality construction materials in the region. In the RMX Business, the Company launched Ecodure Thermal Insulated Concrete, which exhibits lower thermal conductivity than conventional concrete, and Concrete Uno – Uno-Hydrophobic Concrete, which enhances the overall strength and durability of structures.
The Company’s commitment to sustainability is highlighted by its lowest carbon emissions in the industry, with 457 kg CO2 per ton1 of cementitious materials.
Commenting on the performance of the Company, Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd., stated, “The Company navigated the quarter marked by soft demand, primarily due to elections, weather-related factors, and continued pressure on pricing. Despite these challenges, the focus remained on strategic priorities such as value optimization, cost optimization, and operational efficiency. The Company has reached the lowest blended fuel cost in the last 11 quarters at ₹ 1.57/ Mcal. The SAP unification program was completed in line with the Company’s digital transformation journey, enabling us to streamline processes across the organization. Additionally, railway siding projects in Odisha and Sonadih are at an advanced stage of completion, which will further improve efficiency and profitability.
He further added, “Looking ahead, the timing and pace of demand recovery will depend on the on-ground execution of infrastructure and housing projects. In the near term, headwinds primarily stem from the demand-supply imbalance and continued pricing pressure. To address these challenges, the Company will continue to focus on value optimization, premiumization, geo-optimization, and brand strengthening, along with a strong emphasis on cost optimization.”