Heidelberg Cement Annual Analysis - Resilient Performance Amid Challenges: Axis Securities
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Axis Securities Report
Heidelberg Cement India Ltd. achieved the highest-ever profitability during FY21 despite Covid-19 imposed disruptions.
The company’s net profit increased by 17.5% to Rs 315 crore from Rs 268 crore in FY20. This was on account of optimisation of its various cost levers, the lower interest cost, and the reversal of deferred tax liability of Rs 54 crore during the year.
Premium product Mycem Power continued to receive excellent traction in FY21 as its sales increased by 29% to 0.70 million tonnes per annum from 0.54 mtpa in FY20.
Heidelberg Cement is setting up a 3 mtpa greenfield plant in Gujarat and has executed a mining lease for the same.
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