Leading cement maker Nuvoco Vistas released its April-June quarterly results for the 2021-22 fiscal year, reporting a net profit of Rs 114.28 crore on a consolidated basis. The company’s revenue from operations in the first quarter of the current fiscal year was Rs 2,202.97 crore, according to a regulatory filing by the company with the stock exchanges.
Nuvoco Vistas’ consolidated profit before interest, taxes, depreciation and amortization (EBITDA) in the June quarter was Rs 519.88 crore, with a reported EBITDA margin of 24 percent.
“Despite the nationwide lockdown, the company delivered exceptional volume growth in the quarter ended June 30, 2021. With a drive for innovation and premium products, leveraging synergy benefits between Nuvoco and NU Vista, as well as a strong focus on cost savings contributed to an overall improvement in 24 percent consolidated EBITDA margin,” said Mr. Jayakumar Krishnaswamy, Managing Director of Nuvoco Vistas Corporation Limited.
Shares of Nuvoco Vistas were listed on the exchanges last month at a discount to the issue price of Rs 570 each. The initial public offering (IPO) of ₹5,000 crore was subscribed for 1.71 times on the third and final day of issue.
Nuvoco Vistas is the fifth largest cement production company in the country and the largest in capacity in the East. It has 11 cement plants, consisting of five grinding units, five integrated units and one mixing unit. The company operates cement plants in cities like Jharkhand, Chhattisgarh, Rajasthan, West Bengal and Haryana.
On Tuesday, September 7, shares of Nuvoco Vistas were down 1.24 percent at Rs 559.90 apiece on the BSE. Nuvoco Vistas opened on the BSE at Rs 573.05 and registered an intraday high of Rs 577 and an intraday low of Rs 557 during the trading session today.