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Why India Cements is roping in BCG for operational overhaul
India Cements (ICEM) has posted a significantly disappointing performance this quarter, with its EBITDA plunging 84 per cent YoY to Rs 5.00 crore, considerably lower than the projected Rs 362 million.The cement division experienced an operating loss of Rs 9.1 crore, contrasting with an EBITDA of Rs 26.30 crore in 1QFY23. Notably, this marks the continuation of reported losses over the past...
India Cements (ICEM) has posted a significantly disappointing performance this quarter, with its EBITDA plunging 84 per cent YoY to Rs 5.00 crore, considerably lower than the projected Rs 362 million.
The cement division experienced an operating loss of Rs 9.1 crore, contrasting with an EBITDA of Rs 26.30 crore in 1QFY23. Notably, this marks the continuation of reported losses over the past four quarters. This quarter, the company's net loss was Rs 75.30, surpassing the anticipated loss of Rs 53.80.
To address these challenges, ICEM has teamed up with the Boston Consulting Group (BCG) to recommend strategies for enhancing operational efficiency. The objective is to achieve cost reductions of approximately Rs 200/ton by March 2024 across its three plants located in Andhra Pradesh. Furthermore, ICEM collaborates with equipment experts to renovate and upgrade several plants to streamline operations.
