Nuvoco announces its Quarterly Results for Q2 FY 2021-22
Revenue from operations at Rs. 2020 Crores; EBITDA at Rs. 338 Crores
MUMBAI, India, Nov. 10, 2021 /PRNewswire/ — Nuvoco Vistas Corp. Ltd. (Nuvoco), a leading building materials Company in India, today announced its unaudited financial results for the quarter ended September 30, 2021. Nuvoco is the fifth largest cement manufacturing Company in India* and among the leading players in the East by capacity.
The Consolidated** Revenue from operations of Nuvoco (including NU Vista Limited) stood at Rs.2020 Crores for the quarter ended September 30, 2021; Consolidated EBITDA margin at 17%.
Commenting on the results, Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd. said, “In spite of the challenging market conditions in our major operating market of East, we were able to achieve volumes at par as compared to last year. Premium product share improved by 3% on a year-on-year (y-o-y) basis and will continue to be thrust area going forward. Our flagship Project SPRINT which is to drive synergies between Nuvoco and NU Vista has been yielding results as expected and is able to partially offset the input price hike. Double Bull launch in North and composite cement scale up have been faster than target plans. Sustainability remains core to the Company with thrust on composite cement, green concrete, the ramp up of WHR output and an increase in alternate fuel usage. This quarter witnessed the commissioning of Captive Power Plant at Arasmeta.”
*Source: CRISIL Report
**Consolidated figures are not comparable on a y-o-y basis as the acquisition of NU Vista Limited took place on July 14, 2020.
Nuvoco Vistas Corporation Limited (“Nuvoco”) is a cement manufacturing company with a vision to build a safer, smarter and sustainable world. Nuvoco started its operations in 1999, and since then it has emerged as one of the major players in the building materials industry in India. Today, Nuvoco offers a diversified business portfolio under three business segments, namely, Cement, Ready-Mix Concrete (RMX) and Modern Building Materials (MBM). Nuvoco is a leading cement player in India and the largest cement company in East India in terms of capacity, following the acquisition of Nu Vista Limited (formerly Emami Cement Limited), offering various brands of cement such as ‘Concreto’, ‘Duraguard’, ‘Nirmax’, ‘Double Bull’, and ‘Infracem’. The MBM product portfolio, under the ‘Zero M’ and ‘Instamix’ brands, comprises construction chemicals, wall putty and cover blocks. The RMX business has a comprehensive pan-India presence offering value-added products under various brands such as ‘Concreto’, ‘Artiste’, ‘InstaMix’ and ‘X-Con’. Nuvoco is a proud contributor to landmark projects such as World One building at Mumbai, and the metro railway projects at Mumbai, Jaipur and Noida. Through the NABL-accredited Construction Development and Innovation Centre (CDIC) based in Mumbai, Nuvoco identifies gaps in the marketplace and offers innovative products to meet the customer requirements. (www.nuvoco.com)
For more information, please contact the Company at [email protected]
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