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Dolat Capital Report
Shree Cement Ltd. FY24 annual report analysis suggests improvement in financial performance with a 16.3% increase in operating revenue to Rs 195.9 billion from Rs 168.4 billion in FY23, while Ebitda jumped up 48.3% to Rs 43.6 billion from Rs. 29.4 billion in FY23. Ebitda margin also rose to 22.3% from its lowest in five years of 17.5% in FY23.
Cement demand during the year is estimated to have grown by robust 10-12% to 442-447 million tonne, following a ~12% growth in the previous year.
Favorable demand conditions helped utilization levels inch up to 71- 73% in FY24, after having touched 69% in FY23.
Shree Cement has widely benefited from-
large infrastructure projects,
rapid urbanisation,
upsurge in housing projects and
decline in coal prices, which had risen sharply in FY23.
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