Birla Corporation Limited, the flagship Company of the M P Birla Group and cement major, announced its third quarter’s results on 9th February, 2014. The company had dispatched 18.08 lakh tons of cement against 15.52 lakh tons in the corresponding quarter the previous year, registering a rise of 16.49%. Net Sales/Income from operations for the third
quarter of the current financial year stood at Rs.709.84 crores against the Rs 612.55 crores registered in the corresponding quarter of previous year. The Profit after Tax was Rs.15.99 crores against Rs 32.21 crores in the previous corresponding quarter. The financial highlights for Q3 2013 are as follows –
• Net Sales at Rs.709.84 Crs. up by 15.88%*
• EBIDTA at Rs.62.21 Crs. PAT at Rs.15.99 Crs. EPS at Rs.2.08
• Cement Despatches at 18.08 Lac tons up by 16.49 %*
• Cement Production at 17.56 Lac tons up by 10.30%*
• Percentage of Blended Cement as a %age of Total Cement Sales continues to be high
at about 85.11%
* as compared to corresponding quarter of previous year
Shri Harsh V. Lodha, Chairman of the Company, commenting on the results in the third quarter of 2013-14, after its Board meeting today, said the cement industry has witnessed a challenging scenario with subdued realization on one hand and higher input and logistic costs on the other. The realization was substantially lower, particularly in the Northern and the Eastern regions, compared to the rates in the previous corresponding quarter.
The operations at the Company’s Durgapur cement units remained suspended for about 10 days, during the quarter, on account of a severe ‘tornado’ which damaged the local high tension line and pole structure. The operations could be resumed after the restoration of power supply by the Damodar Valley Corporation. The Ministry of Coal de-allocated Bikram Coal Block, allocated to the Company, on the grounds that the block has not been developed as per the milestones prescribed in the allocation letter. Though significant progress has been made in the development of the coal block the delays have been entirely due to delays/lapses in receipt of various clearances and approvals from the Government authorities, which were beyond the control of the Company. Such facts have not adversely affected the sales of UNIQUE, the premium brand of Portland Slag Cement launched by the Company two years ago in the eastern parts of the country.
