Revenue from operations decline marginally to Rs 2,409.36 crore in third quarter of FY25 from Rs 2,420.98 crore reported in the same period last year.
The firm reported a pre-tax loss of Rs 84.71 crore in the December 2024 quarter, compared to profit before tax of Rs 56.82 crore posted in the December 2023 quarter.
EBITDA during the quarter stood at Rs 258 crore, registering a de-growth of 38.72% on YoY basis.
The company's revenue from cement stood at Rs 2,184.24 crore (up 0.74% YoY) and revenue from ready mix concrete and others was at Rs 244.85 crore (up 2.55% YoY) during the period under review.
Consolidated cement sales volume grew 16% YoY to 4.7 million tonnes in Q3 FY25.
The company stated that the cement industry has witnessed a recovery following a challenging first half of FY25. After facing subdued demand, the industry is showing signs of improvement, supported by favourable market dynamics. In response, it undertook several initiatives to drive strong volume growth during the quarter.
While cement prices remained muted for majority part of the quarter, they recovered toward the end. Meanwhile, the firm has continued to focus on operational excellence. It has achieved the lowest blended fuel cost in the last 13 quarters, at Rs 1.45 per Mcal. Nuvoco's power & fuel cost continues to be amongst the lowest in the industry.
Jayakumar Krishnaswamy, managing director of Nuvoco Vistas Corporation, said, “The company proactively seized demand opportunities to bolster its position in the market and delivered strong volume growth during the quarter. Price increases in the recent period continue to reflect a positive trend, while sustained improvements in demand should support prices as well.
Strategic priorities for the company remain centered on driving premiumization, optimizing geomix, enhancing fuel mix efficiency, strengthening brand presence, and maintaining cost excellence. The company is confident in its expansion strategy and ability to execute on growth plans pertaining to Vadraj Cement, which will diversify its market footprints in the Western India, thereby supporting long-term growth ambitions and further consolidating its position as the 5th largest player in India.”
Nuvoco Vistas Corporation (NVC) is engaged in the business of manufacturing and sale of Cement and Ready Mix (RMX) along with trading and manufacturing of aggregates. The company caters mainly to the domestic market.