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Shree Cement Q4FY23 PAT down 20% at Rs526 crore on higher raw material, power and fuel costs
Shree Cement reported 16.9% growth in sales revenues for the March 2023 quarter on consolidated basis at Rs5,100. Revenues were higher by 18.6% sequentially. On a sequential basis, the total sales volumes of the company increased by 10% to 8.83 million tonnes. Proportion of premium products in the portfolio increased by 30 bps sequentially to 7.5%. Shree Cements is in the process of implementing its capacity enhancement to 80 MTPA.
The fall in operating profits on a yoy basis was largely on account of higher cost of raw materials and fuel & power costs. These continue to rise sharply on a yoy basis. However, EBITDA was up 26% sequentially. More than 54% of the power consumption of Shree Cement was green power consumption which reduces their carbon footprint. For FY23, the share of low carbon cement was up at 76% yoy.
Financial highlights for Mar-23 compared yoy and sequentially
Shree Cement | |||||
Rs in Crore | Mar-23 | Mar-22 | YOY | Dec-22 | QOQ |
Total Income (Rs cr) | ₹ 5,100 | ₹ 4,364 | 16.86% | ₹ 4,299 | 18.63% |
Operating Profit (Rs cr) | ₹ 892 | ₹ 911 | -2.09% | ₹ 708 | 25.99% |
Net Profit (Rs cr) | ₹ 526 | ₹ 657 | -20.00% | ₹ 282 | 86.40% |
|
|
|
|
| |
Diluted EPS (Rs) | ₹ 145.72 | ₹ 182.16 |
| ₹ 78.18 |
|
OPM | 17.49% | 20.87% |
| 16.47% |
|
Net Margins | 10.31% | 15.06% |
| 6.56% |
|
For the fourth quarter, operating margins fell from 20.87% to17.49% on the back of higher input cost pressures as well as higher cost of fuel and power. Even the net margins fell from 15.06% to 10.31% yoy. However, net margins and operating margins were up on a sequential basis. The company also declared a second interim dividend of Rs55 per share taking the total dividend paid out to shareholders in the year to Rs100 per share.
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