Shree Cement Q1 Results: Profit Down 51%, Misses Estimates
The company's profit fell 51.4% year-on-year to Rs 278 crore in the quarter-ended June 30, 2024.
Shree Cement Ltd.'s consolidated net profit fell 51.4% in the first quarter of fiscal 2025, missing analysts' estimates.
The company's profit fell to Rs 278 crore in the quarter-ended June 30, 2024, according to an exchange filing on Tuesday. Analysts tracked by Bloomberg had set a consensus estimate of Rs 510 crore.
One of the main factors that impacted the cement maker's Q1 earnings were higher depreciation and amortisation expenses, which more than doubled to Rs 704.26 crore, compared to Rs 339.45 crore a year ago.
Shree Cements Q1 FY25 Highlights (Consolidated, YoY)
Revenue up 1.7% at Rs 5,124 crore (Bloomberg estimate: Rs 4,981 crore).
Ebitda down 1.9% at Rs 927 crore (Bloomberg estimate: Rs 1,163 crore).
Ebitda margin at 18.1% vs 18.8% (Bloomberg estimate: 23.40%).
Net profit down 51.4% at Rs 278 crore (Bloomberg estimate: Rs 510 crore).
Sales Volumes
The company's total sales volume increased 8% year-on-year to 9.64 million tonnes from 8.92 million tonnes.
The sale of premium products stood at 7.6% of total trade sale volumes.
Capex
The cement maker commissioned its integrated cement unit with 3 million tonnes per annum capacity, in Andhra Pradesh during the quarter.
Apart from this, the company also has capacity expansion of 6 MTPA in Rajasthan, 3 MTPA in Karnataka, 3.4 MTPA in Chhattisgarh and 3 MTPA in Uttar Pradesh, which are all progressing as per schedule, according to the company.
