Prism Johnson Limited Q3FY23 Earnings Story

The biggest integrated building materials company in India, Prism Johnson Limited was founded in 1992 and offers a variety of goods, including cement, ready-mixed concrete, tiles, sanitary ware, and bath fittings.

Financial Results:

Revenues for Q3 FY23 increased by 7.6% YoY, driven primarily by Prism Cement’s significant double-digit growth. HRJ sales fell by 6.9% YoY primarily because of reduced quantities, while Prism RMC revenues increased by 8.4% YoY.

Revenues for the Prism Cement Segment increased by 23.4% YoY from Q3 FY22’s 568 Crores to Q3 FY23’s 700 Crores. EBITDA per tonne decreased from 385 in Q3 FY22 to 295 as a result of a significant cost rise; power and fuel expenses per tonne jumped from 1,035 in Q3 FY22 to 1,788.

In Q3 FY23, HRJ’s consolidated revenues fell from 633 crores in Q3 FY22 to 589 crores, a 6.9% YoY decrease. Consolidated EBITDA margin for Q3 FY23 decreased by 640 bps year over year to 6.3%, principally as a result of reduced sales volume and rising input costs, particularly gas prices.

From 317 crores in Q3 FY22 to 343 crores in Q3 FY23, Prism RMC’s revenues increased by 8.4% YoY. Due to an increase in operating expenditures, EBITDA margin decreased by 150 bps YoY to 0.8% in Q3 FY23.