NUVOCO Vistas announces its financial results for Q1 FY25
- Consolidated revenue from operation stood at Rs. 2,636 crores
- Consolidated EBITDA stood at Rs. 348 crores
New Delhi : Nuvoco Vistas Corp. Ltd., a leading building materials Company in India, announced its unaudited financial results for the quarter ended June 30, 2024. With 25 MMTPA of combined installed capacity, Nuvoco Vistas Corp. Ltd. is the fifth largest cement group in India and amongst the leading cement players in East India.
Commenting on the performance of the Company, Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd., stated, “The Company navigated the quarter marked by soft demand, primarily due to elections, weather-related factors, and continued pressure on pricing. Despite these challenges, the focus remained on strategic priorities such as value optimization, cost optimization, and operational efficiency. The Company has reached the lowest blended fuel cost in the last 11 quarters at ₹ 1.57/ Mcal. The SAP unification program was successfully completed in line with the Company’s digital transformation journey, enabling us to streamline processes across the organization. Additionally, railway siding projects in Odisha and Sonadih are at an advanced stage of completion, which will further improve efficiency and profitability.
He further added, “Looking ahead, the timing and pace of demand recovery will depend on the on-ground execution of infrastructure and housing projects. In the near term, headwinds primarily stem from the demand-supply imbalance and continued pricing pressure. To address these challenges, the Company will continue to focus on value optimization, premiumization, geo-optimization, brand strengthening, along with a strong emphasis on cost optimization.”