Nuvoco Vistas (NUVOCO) Q4 23/24 earnings summary

Executive summary

• FY 2023-24 consolidated revenue rose to ₹10,732.89 crore; EBITDA reached a record ₹1,657.20 crore, up 35.44% YoY, and PAT was ₹147.37 crore.

• Performance prioritized value over volume in the East, volume growth in the North, premiumisation, geographic mix and cost efficiency amid subdued demand in West Bengal, Bihar and Jharkhand.

• Net debt fell ₹384 crore YoY to ₹4,030 crore; the net debt-to-EBITDA ratio was 2.4x.

Financial highlights

• Revenue from operations was ₹10,732.89 crore versus ₹10,586.17 crore in FY 2022-23; EBITDA was ₹1,657.20 crore versus ₹1,223.59 crore.

• Consolidated PAT was ₹147.37 crore versus ₹15.86 crore; EPS rose to ₹4.13 from ₹0.44.

• Operating cash flow was ₹1,592.54 crore versus ₹1,711.40 crore; capex was ₹581.38 crore versus ₹486.33 crore.

• Cement sales volume was 18.773 MT versus 18.803 MT; net average selling price increased to ₹5,197/t from ₹5,123/t.

• Cement power and fuel cost fell 23% to ₹1,135/t; raw material cost fell 3% to ₹598/t, while freight cost rose 4% to ₹1,514/t.

Outlook and guidance

• FY 2024-25 priorities include raising realisations through premiumisation, expanding in North and growing share in Central and East markets.

• Project BRIDGE 2.0 targets ₹50/t in incremental cost savings through material, power and fuel efficiency, distribution improvements and productivity gains.

• Plans include stronger sales within 200 km of plants, customer and vendor portals, unified SAP processes and AI-enabled efficiency projects.

• Industry cement demand is forecast to grow 7–8% in FY 2024-25; additional supply and competition are expected to constrain price growth.