Propelling towards

a better
tomorrow -
Nuvoco 2024

Nuvoco Vistas Corporation Limited

Integrated Annual Report 2023-24

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About the Company

EXPANDING PRESENCE WITH
OPTIMISM

As the 5th largest cement group in India in terms of capacity, and a leading player in East India, we have scaled our capacity to 25 MMTPA.

Our strategically located production facilities ensure optimum operational efficiency, market access and timely delivery. This positioning allows us to fulfil our commitment to cater to evolving consumer preferences, market demands, and innovation. With 11 cement manufacturing plants, 58 RMX plants, and 16 offices — including the Head Office, CDIC, and Regional Sales Offices: we are present in 85 locations across India. Our strategically positioned facilities enable us to provide a diverse range of premium products to clients across India. We are also proud contributors to prestigious projects such as the Bharatmala Pariyojana project, the Mumbai - Ahmedabad bullet train corridor project, and the Western Dedicated Freight Corridor, among many others.

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5th largest cement group in India
Management Messages

MESSAGE FROM THE CHAIRMAN

Nuvoco Chairman
Our cement brands

Our Vision to Build a Safer, Smarter, and Sustainable World and your confidence in our abilities have propelled us forward. We are committed to nurturing this relationship and continuing our journey together towards achieving shared goals and greater successes.

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Management Messages

FROM THE DESK OF MANAGING DIRECTOR

Nuvoco MD

We delivered the highest-ever EBITDA and substantially reduced our net debt. Our strategy has been unwavering, aimed at driving volume growth in the North and adopting a Value-over-Volume approach in the East, alongside premiumisation, geo-mix optimisation, brand enhancement, and cost efficiency.

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Management Messages

MESSAGE FROM THE CHAIRMAN

Our Vision to Build a Safer, Smarter, and Sustainable World and your confidence in our abilities have propelled us forward. We are committed to nurturing this relationship and continuing our journey together towards achieving shared goals and greater successes.

Read More
Management Messages

FROM THE DESK OF MANAGING DIRECTOR

Our Vision to Build a Safer, Smarter, and Sustainable World and your confidence in our abilities have propelled us forward. We are committed to nurturing this relationship and continuing our journey together towards achieving shared goals and greater successes.

Read More
Key Highlights

DEFINING OUR VALUE CREATION

10,733 crores

Revenue from operations

1,657 crores

EBITDA

147 crores

PAT

10,946.84 crores

Market Capitalisation on BSE

75.3%

Average capacity utilisation of cement plants

25 MMTPA

Total cement manufacturing capacity

CREATING WORKPLACES WHERE

11

Cement plants across 7 states

58

Ready-Mix Concrete (“RMX”) plants

CDIC

Innovation centre

2

Patents

457 kg CO2

Emissions per tonne of cementitious materials

16 RMX Plants

GreenPro Certified by the Indian Green Building Council (IGBC-CII) for producing Ecodure products (Green Concrete)

5.3 MWp

Solar power plant capacity

711.2 Kcal/Kg Clinker

Specific Heat Consumption

150MW

Captive Power Plant (‘CPP’) power generation capacity

1.8X

Water Positive Index

13%

Alternate Fuel Rate (AFR)

4,092

Workforce strength

1,16,772

Hours of training and skill development

81%

NuView Employee Satisfaction Score (Third party verified by Kincetric)

1,11,000+

Lives impacted

3.78 crores

CSR expenditure

75%

Customer Satisfaction Score

Financial Capital

10,733 crores

Revenue from operations

1,657 crores

EBITDA

147 crores

PAT

10,946.84 crores

Market Capitalisation on BSE

Manufacturing Capital

75.3%

Average capacity utilisation of cement plants

25 MMTPA

Total cement manufacturing capacity

11

Cement plants across 7 states

58

Ready-Mix Concrete (“RMX”) plants

Intellectual Capital

CDIC

Innovation centre

2

Patents

Natural Capital

457 kg CO2

Emissions per tonne of cementitious materials

16 RMX Plants

GreenPro Certified by the Indian Green Building Council (IGBC-CII) for producing Ecodure products (Green Concrete)

5.3 MWp

Solar power plant capacity

711.2 Kcal/Kg Clinker

Specific Heat Consumption

150MW

Captive Power Plant (‘CPP’) power generation capacity

1.8X

Water Positive Index

13%

Alternate Fuel Rate (AFR)

Human Capital

4,092

Workforce strength

1,16,772

Hours of training and skill development

81%

NuView Employee Satisfaction Score (Third party verified by Kincetric)

Social and Relationship Capital

1,11,000+

Lives impacted

3.78 crores

CSR expenditure

75%

Customer Satisfaction Score

STRENGTHENING FOUNDATION
FOR A BETTER TOMORROW

At Nuvoco, our financial capital is supported by a continuous operational improvement plan. Our focus remains sharp on ‘cost efficiency’, ‘value-driven growth’ and ‘driving robust EBITDA growth’. Our deleveraging strategy yielded significant results, aligning with our historical trend of declining net debt. Through efficient financial management, we strive to achieve business goals, preserve stakeholder value, and ensure smooth operations, aiming for healthy returns.

Read More

PROPELLING MANUFACTURING
CAPABILITIES

Rooted in the infrastructure sector, we prioritise efficient asset management to stay ahead and our success centres around smart handling of manufacturing resources. We lead with innovative manufacturing solutions, cutting-edge technology, and sustainable practices. Being the fifth largest cement group in India in terms of capacity and a leading player in the East, we have a focus on effectively and efficiently utilising our capacities and growing our relationships.

Read More

FUELLING INNOVATION
FOR A BETTER TOMORROW

Our proactive approach to staying competitive and meeting the evolving needs of our customers in the buildings material industry is exemplified by our innovative product development strategies. These strategies include the introduction of technology driven products and the revamping of brand communication methods. By ensuring the highest product quality, and integrating digitalisation and technology to achieve operational excellence, we are reinforcing our readiness for the future.

Read More

SEEDING SUSTAINABILITY
FOR A BETTER TOMORROW

At Nuvoco, we are dedicated to maintaining socially responsible and environmentally sustainable operations. Sustainability is at the core of our growth strategy, prompting us to minimise the environmental impact and ensure our operations adhere to sustainable practices.

Our ‘Protect Our Planet’ agenda is well crafted, incorporating the growing focus towards ESG and gaining momentum with each passing day. Sustainability has become a non-negotiable imperative for all our stakeholders including customers, employees, partners, investors, regulators, and the communities wherein we operate.

Read More

CREATING WORKPLACES WHERE
PURPOSE FUELS PASSION &
PASSION FUELS PRODUCTIVITY

At Nuvoco, we believe in crafting workplaces that amaze, inspire, and ignite passion. This involves a multifaceted approach centred around transparency, mutual respect, and inclusivity. It is crucial to cultivate a culture where employees get a sense of individual accomplishment along with contribution towards organisational growth. Our aim is to cultivate an environment where every employee feels valued, supported, and empowered to thrive both personally and professionally.

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BUILDING PARTNERSHIPS
FOR SUSTAINABLE GROWTH

At Nuvoco, business success and stakeholder value are intertwined, with productive partnerships central to our operations. We prioritise relationships with not just employees, but also business associates, customers, and stakeholders at large, fostering enduring connections. Through our commitment to top-quality products, community initiatives, robust supplier management systems, and external collaborations, we strive to positively impact all our stakeholders and society as a whole.

Read More
Financial Capital

STRENGTHENING FOUNDATION
FOR A BETTER TOMORROW

At Nuvoco, our financial capital is supported by a continuous operational improvement plan. Our focus remains sharp on ‘cost efficiency’, ‘value-driven growth’ and ‘driving robust EBITDA growth’. Our deleveraging strategy yielded significant results, aligning with our historical trend of declining net debt. Through efficient financial management, we strive to achieve business goals, preserve stakeholder value, and ensure smooth operations, aiming for healthy returns.

Read More
Manufacturing Capital
Cement Factory

PROPELLING MANUFACTURING
CAPABILITIES

Rooted in the infrastructure sector, we prioritise efficient asset management to stay ahead and our success centres around smart handling of manufacturing resources. We lead with innovative manufacturing solutions, cutting-edge technology, and sustainable practices. Being the fifth largest cement group in India in terms of capacity and a leading player in the East, we have a focus on effectively and efficiently utilising our capacities and growing our relationships.

Read More
Intellectual Capital
Energy in cement factory

FUELLING INNOVATION
FOR A BETTER TOMORROW

Our proactive approach to staying competitive and meeting the evolving needs of our customers in the buildings material industry is exemplified by our innovative product development strategies. These strategies include the introduction of technology driven products and the revamping of brand communication methods. By ensuring the highest product quality, and integrating digitalisation and technology to achieve operational excellence, we are reinforcing our readiness for the future.

Read More
Natural Capital

SEEDING SUSTAINABILITY
FOR A BETTER TOMORROW

At Nuvoco, we are dedicated to maintaining socially responsible and environmentally sustainable operations. Sustainability is at the core of our growth strategy, prompting us to minimise the environmental impact and ensure our operations adhere to sustainable practices.

Our ‘Protect Our Planet’ agenda is well crafted, incorporating the growing focus towards ESG and gaining momentum with each passing day. Sustainability has become a non-negotiable imperative for all our stakeholders including customers, employees, partners, investors, regulators, and the communities wherein we operate.

Read More
Human Capital
CREATING WORKPLACES WHERE

CREATING WORKPLACES WHERE
PURPOSE FUELS PASSION &
PASSION FUELS PRODUCTIVITY

At Nuvoco, we believe in crafting workplaces that amaze, inspire, and ignite passion. This involves a multifaceted approach centred around transparency, mutual respect, and inclusivity. It is crucial to cultivate a culture where employees get a sense of individual accomplishment along with contribution towards organisational growth. Our aim is to cultivate an environment where every employee feels valued, supported, and empowered to thrive both personally and professionally.

Read More
Social and Relationship Capital

BUILDING PARTNERSHIPS
FOR SUSTAINABLE GROWTH

At Nuvoco, business success and stakeholder value are intertwined, with productive partnerships central to our operations. We prioritise relationships with not just employees, but also business associates, customers, and stakeholders at large, fostering enduring connections. Through our commitment to top-quality products, community initiatives, robust supplier management systems, and external collaborations, we strive to positively impact all our stakeholders and society as a whole.

Read More

SOCIAL RESPONSIBILITY

Our social engagement strategy integrates industrial expertise with respect for and inclusion of local communities, cultures, and environmental conservation. We aim to create meaningful change through partnerships with neighbouring communities, enhancing both their quality of life and our shared value. Aligned with the United Nations Sustainable Development Goals, our CSR initiatives focus on improving the communities where we operate or those that influence our plant operations. Instead of continually adding new programs, we concentrate on strengthening existing ones, leveraging them to uplift society through our five thematic pillars.

Our 5 Thematic Pillars are

Social Work
During the year, we have received an approval to execute projects of ~40 lakhs from NABARD at 5 plant locations.
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Saksham Bharat

In India, where a significant portion of the population relies on manual labour and traditional skills, the need for skill development is crucial. The country’s demographic dividend, with a large young population, presents an opportunity to harness this workforce for economic growth. By focusing on skill development, especially in sectors like construction, Nuvoco is providing training and creating pathways to meaningful employment through various initiatives

Sangrahit Bharat

In an era where environmental sustainability is paramount, Nuvoco understands the critical importance of sustainable practices for the well-being of our planet and future generations. Through the Sangrahit Bharat Programme, we foster renewable energy, water conservation, waste management, and biodiversity, embodying responsible corporate citizenship.

Shikshit Bharat

Our Shikshit Bharat initiatives aim to create a positive impact in education through improved infrastructure and technology. By supporting tribal schools and investing in digital learning, Nuvoco is working towards a future where education is accessible and transformative. These efforts empower individuals with the skills needed for success in a digital world, contributing to a brighter and more educated India. This initiative goes beyond traditional education by addressing fundamental needs such as access to clean drinking water, improved sanitation through better toilets, consistent electricity supply, and essential teaching aids. By focusing on these critical aspects, Nuvoco aims to create an environment conducive to effective student learning and holistic development

Swasth Bharat

Through our CSR initiatives, it has always been our goal to enrich the lives of people. We aim to ensure communities have access to essential primary healthcare services, enhanced sanitation facilities, and clean drinking water. During the year, we started our Mobile Medical Services at the Jojobera and Arasmeta Cement Plants, which provided free consultations and medicines to 9,236 people from 31 villages. Additionally, we have completely renovated a public health centre near the Risda Cement Plant.

Sanrachit Bharat

In many rural areas, inadequate infrastructure hampers daily life and economic progress. Nuvoco recognises these challenges and, through the Sanrachit Bharat Programme, has taken decisive steps to improve living conditions and foster growth in these communities.

Saksham Bharat

Saksham Bharat

In India, where a significant portion of the population relies on manual labour and traditional skills, the need for skill development is crucial. The country’s demographic dividend, with a large young population, presents an opportunity to harness this workforce for economic growth. By focusing on skill development, especially in sectors like construction, Nuvoco is providing training and creating pathways to meaningful employment through various initiatives

Read More

Sangrahit Bharat

Sangrahit Bharat

In an era where environmental sustainability is paramount, Nuvoco understands the critical importance of sustainable practices for the well-being of our planet and future generations. Through the Sangrahit Bharat Programme, we foster renewable energy, water conservation, waste management, and biodiversity, embodying responsible corporate citizenship.

Read More

Shikshit Bharat

Shikshit Bharat

Our Shikshit Bharat initiatives aim to create a positive impact in education through improved infrastructure and technology. By supporting tribal schools and investing in digital learning, Nuvoco is working towards a future where education is accessible and transformative. These efforts empower individuals with the skills needed for success in a digital world, contributing to a brighter and more educated India. This initiative goes beyond traditional education by addressing fundamental needs such as access to clean drinking water, improved sanitation through better toilets, consistent electricity supply, and essential teaching aids. By focusing on these critical aspects, Nuvoco aims to create an environment conducive to effective student learning and holistic development

Read More

Swasth Bharat

Swasth Bharat

Through our CSR initiatives, it has always been our goal to enrich the lives of people. We aim to ensure communities have access to essential primary healthcare services, enhanced sanitation facilities, and clean drinking water. During the year, we started our Mobile Medical Services at the Jojobera and Arasmeta Cement Plants, which provided free consultations and medicines to 9,236 people from 31 villages. Additionally, we have completely renovated a public health centre near the Risda Cement Plant.

Read More

Sanrachit Bharat

Sanrachit Bharat

In many rural areas, inadequate infrastructure hampers daily life and economic progress. Nuvoco recognises these challenges and, through the Sanrachit Bharat Programme, has taken decisive steps to improve living conditions and foster growth in these communities.

Read More