Shree Cement fourth quarter results: Net profit rose by more than a fifth to Rs 662 crore, EBITDA hit record high.
The country’s third-largest cement producer in terms of production capacity posted net operating revenue of ₹5,010.1 billion, up 7% year-on-year. The fact that the sales growth rate is relatively low compared to the sales growth rate means that the company also felt the impact of the price decline.
Net profit for the January-March period stood at Rs 662 crore, while operating profit for the quarter was Rs 1,327 crore, up 49% year-on-year. The company’s operating profit for 2023-24 (April to March) also reached an all-time high of 4.0364 trillion rupees.
“Our strong financial performance reflects our focus on operational efficiency and expanding our capabilities through green and brownfield projects,” said Managing Director Neeraj Akhoury.
In FY24, the company recorded an 86% increase in net profit on revenue of Rs 19,586 crore and net profit of Rs 2,468 crore, up 16% over the previous year. Production for the year increased by more than 12% to 35.5 million tonnes. “Cement demand in India is expected to remain robust going forward, driven by the government’s strong emphasis on infrastructure development, continued real estate activity and expectations of a good monsoon. Shree Cement currently has the capacity to produce nearly 47 million tonnes of cement annually in India. It recently commissioned a 3 million tonne plant in Andhra Pradesh and is expanding to a further 18 million tonne capacity.
