Dalmia Bharat Limited, reported its consolidated financial results for the quarter ending December 31, 2021. Commenting on the results, Puneet Dalmia, Managing Director – Dalmia Bharat Limited, said, “The industry witnessed a difficult quarter with unprecedented cost escalations coupled with a weak demand scenario. However, we believe that the peak of costs is behind us and both the demand and prices are showing some strength.” He further added, “With recent economic data suggesting recovery in macro indicators, I am excited about the tremendous opportunity ahead. We are pursuing our growth ambitions conscientiously and are making investments to deliver sustainable and profitable growth while ensuring consistency and predictability of our earnings.”
Mahendra Singhi, Managing Director and CEO – Dalmia Cement (Bharat) Limited said, “Inspite of a tough quarter, we have delivered sales volume in line with the industry. The margins, during the quarter, were impacted due to a significant inflation in the energy prices and market weakness in core regions of our operation. However, beginning mid-Dec things have started to look good. To mitigate impact of external exigencies, we are working to further strengthen our operational efficiencies and explore avenues of cost rationalizations.”
In line with Capital Allocation Framework, the Company has completed Sale of Hippo Stores (the retail venture) on 31st Dec, 2021 by way of slump sale to Hippostores Technology Pvt. Ltd., a promoter group company for a consideration of Rs. 155 cr. To spearhead its journey towards the goal of becoming Carbon Negative by 2040, the Company has appointed Dr. Arvind Madhukar Bodhankar as ESG Head and Chief Risk Officer In line with the vision to build a Pan India company, the Company has commercialized its 2.9Mnt Murli Plant in Maharashtra which marks the beginning of its manufacturing presence in Western India.
