The Company’s EBITDA margin for the reporting period stood at a negative 7%. However, post the signing of the MSA, the Company expects a jump in its total sales, coupled with the synergies it will derive from Ambuja Cements.

During the year under review, the Company reported losses of ` (449) crore, compared to ` (326) crore in the previous year, which could largely be pinned on the underutilisation of its existing capacities.

The Company’s reported total assets amounted to ` 3,628 crore with current assets representing 10.75% of the total assets during the review period.

Pre-acquisition, it had been dealing with cash flow challenges, largely due to longer payment terms and lowcapacity utilisation. Net cash used in operations during FY 2023-24 was ` 243 crore, mainly due to payment to suppliers.
However, as a result of the MSA in the current scenario, it will receive monthly advance payment for all the orders, which in turn, will help meet its working capital requirements to ensure smooth functioning and improve capacity utilisation.