Ramco publishes 1HFY2021 results
Ramco Cements recorded sales of $301 million in the first half of the 2021 financial year, down by 15 per cent year-on-year from $354 million in the first half of the 2020 financial year. Its profit was $46.4 million, down by 4 per cent from $48.4 million.
The company said, “Business operations were severely disrupted during April 2020 in view of lockdown imposed by the government due to COVID-19. After relaxation of restrictions by the Government, business recovered gradually and is continuing with weak demand, especially in urban/semi-urban markets. The company continues to comply with the various operating guidelines issued by the relevant regulatory authorities from time to time. As per the current assessment of the company, there is no material impact on the carrying values of trade receivables, inventories and other financial/non-financial assets.”