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.
Consolidated EBITDA and PAT at ₹147 crores; achieving 35% growth in EBITDA
Net Debt reduced, bringing the total to ₹4,030 crores
Achieved cost savings in FY 2023-24
Grinding unit successfully commissioned at our cement company in Haryana
Manufactured
Intellectual
Human
Social and Relationship
Natural
Employees
Customers
Communities
Investors and
Shareholders
Regulatory Authorities
Value Chain Partners
Business Ethics &
Compliances
Customer-Centricity
Policies, Standards &
Code of Conduct
Trade Share
Improvement
Cost Efficiency
During the year, Nuvoco witnessed a 35% increase in EBITDA, standing at ₹1,657.20 crores and Profit After Tax (PAT) of ₹147.37 crores. This clearly underlines effectiveness of our strategic initiatives and operational efficiencies. Our revenue for FY 2023-24 reached ₹10,732.89 crores compared to ₹10,586.17 crores in FY 2022-23, showcasing our consistent growth despite challenging market conditions.
Even with the repo rate remaining unchanged, our interest rate decreased by 2 basis points compared to March 2023, standing at 8.47%. These achievements reflect our dedication to financial strength and sustainable growth.
With a focus on debt reduction, our net debt stood at ₹4,030 crores as on March 31, 2024. We achieved a reduction of ₹384 crores from FY 2022-23 through efficient working capital management. Moving forward, our focus will remain on prioritising CAPEX towards sustainability, payback-based projects, and expanding our market presence in the North region. These efforts are aimed at sustaining our momentum in reducing debt and improving our financial position.
Our cost-saving efforts have been amplified through the adoption of the Project BRIDGE 1.0. We are focused on optimising power and fuel usage, reducing material losses, and improving inventory management. By avoiding damages and extra logistics costs, we aim to increase efficiency. These steps are key to strengthening our financial capital and providing lasting value to our stakeholders.