Heidelberg Cement Q3 Results Review - Parent Company Evaluating Plans For Exit: Nirmal Bang

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.Heidelberg Cement India Ltd.'s reported revenue of Rs 6.1billion, up 12.4% YoY while cement volume stood at 1.2 metric tonne, up 10.3% YoY. Cement realisation/tonne stood at Rs 5,026, indicating a YoY uptick of 1.9%. The company reported absolute Ebitda of Rs 655 million, up 76.5% YoY. Total operating cost/tonne stood at Rs 4,484, down 2.4% YoY, primarily driven by a significant 16.7% YoY reduction in power and fuel costs due to lower coal and pet coke prices. However, there was a 16.7% YoY increase in employee costs. Ebitda/tonne came in at Rs 542, up 60% YoY. Profit after tax for Q3 FY24 stood at Rs 315 million, up 464% YoY on a low base..Heidelberg Cement had earlier guided for a capex of Rs 700 million for FY24, with Rs 400 million for maintenance and remaining for debottlenecking of the plant in Gujarat. The Board had also approved debottlenecking of the clinker plant at Narsingarh at an investment of Rs 700 million..Heidelberg Materials, the parent company of Heidelberg Cements India, is exploring the possibility of exiting its operations in India. The exit strategy for Heidelberg's presence in India involves undergoing a comprehensive bidding process. Several prominent groups have expressed interest in acquiring Heidelberg’s cement business in India..Click on the attachment to read the full report:.India Cements Q3 Results Review - Weak Volume, Higher Cost Led Earnings Miss: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Heidelberg Cement Q3 Results Review - Parent Company Evaluating Plans For Exit: Nirmal Bang

Heidelberg Materials, the parent company of Heidelberg Cements India, is exploring the possibility of exiting its operations in India.

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Heidelberg Cement Q3 Results Review - Parent Company Evaluating Plans For Exit: Nirmal Bang

Heidelberg Materials, the parent company of Heidelberg Cements India, is exploring the possibility of exiting its operations in India.

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