Nuvoco Vistas Corp's Q3 Performance: 55% EBITDA Growth and Capacity Expansion

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Nuvoco Vistas Corp's Q3 Performance: 55% EBITDA Growth and Capacity Expansion
Credit: © Reuters.

Nuvoco Vistas Corporation Ltd (NS: NUVO ), a prominent player in India's building materials sector, recently disclosed its unaudited financial performance for the quarter ending 31 December 2023. As the fifth largest cement group in India and a key player in East India, Nuvoco reported robust figures, with consolidated cement sales volume reaching 4.02 MMT and revenue from operations hitting INR 2,421 crores.

Highlighted by a 55% YoY improvement in EBITDA to INR 421 crores, the company showcased its strategic expansion efforts by commissioning a new 1.2 MMTPA Cement Mill at its Haryana Cement Plant, boosting its overall capacity to 25 MMTPA. This move is poised to enhance production volumes in the Northern region and diversify its product offerings.

Emphasizing premium products, Nuvoco attributed 36% of its cement trade volumes in Q3 FY24 to such products, with a recent marketing campaign for Duraguard Franchisee reinforcing customer trust. The company also initiated the "Sabse Khaas Sarpanch" brand activation activity to spotlight impactful village development stories.

In line with its sustainability agenda, Nuvoco reported among the lowest carbon emissions in the industry at 462 kg CO2 per ton of cementitious materials and achieved a 5% YoY improvement in alternate fuel rate (AFR) to 14% in Q3 FY24.

Mr. Jayakumar Krishnaswamy, Managing Director of Nuvoco Vistas Corp. Ltd., praised the company's strong EBITDA growth amidst challenging demand conditions, highlighting operational excellence and cost efficiency. With additional capacity in the Haryana Cement Plant and continued emphasis on quality and innovation, Nuvoco aims to secure a larger market share in the North while maintaining its leadership position in the East. Additionally, the company has expanded its Ready-Mix Concrete business with the commissioning of five new plants in the current fiscal, bringing the total to 56 plants nationwide.

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