Nuvoco Vistas (NUVOCO) Q4 20/21 earnings summary

Executive summary

• FY 2020-21 consolidated revenue rose 10% and EBITDA rose 12%; results swung to a ₹25.95 crore net loss from ₹249.25 crore profit, with pandemic disruption weighing on operations and profitability.

• The July 2020 acquisition of NU Vista expanded capacity and cement-market reach; consolidated results include NU Vista only from the acquisition date.

Financial highlights

• Consolidated revenue from operations was ₹7,488.83 crore, up 10% YoY; EBITDA was ₹1,494.33 crore, up 12%, with EBITDA margin at 20%, unchanged YoY.

• Consolidated PBT fell 91% to ₹36.50 crore; PAT was a ₹25.95 crore loss versus ₹249.25 crore profit, and EPS was -₹0.82 versus ₹10.28.

• Standalone revenue declined 15% to ₹5,805.35 crore; EBITDA fell 10% to ₹1,203.73 crore; PAT was ₹22.78 crore versus ₹249.25 crore.

• Consolidated operating cash flow was ₹1,717.34 crore; capital expenditure was ₹551.66 crore, and cash and bank balances were ₹527.75 crore at March 31, 2021.

Outlook and guidance

• FY 2021-22 cement-industry outlook was described as positive, conditional on COVID-19 developments; infrastructure investment, housing and rural demand were identified as key drivers.

• India FY 2021-22 GDP growth was projected at 9.3%; budgeted infrastructure capex was ₹5.54 lakh crore, with 7,400 National Infrastructure Pipeline projects cited as a demand opportunity.

• The stated strategy emphasized integrating NU Vista, pursuing sourcing and logistics synergies, expanding distribution and delivering growth under “Mission 25.”