Shares of Shree Cement were trading 2% lower on 6 August after the company announced its quarterly earnings for April-June. 

The cement major reported a 51% year-on-year decline in consolidated net profit to Rs 278.61 crore for the quarter under review from Rs 572.3 crore reported in the same quarter of the previous fiscal year. 

The company’s revenue from operations during the quarter stood at Rs 5,123.9 crore, marking a marginal growth of 1.75% YoY against Rs 5,035.6 crore reported in the same quarter last year. 

On the operating level, the company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) slipped by 1.9% YoY to Rs 927 crore. In contrast, the EBITDA margins contracted by 70 basis points to 18.15 during Q1FY25 compared to 18.8% in Q1FY24. 

However, the company’s total sales volume increased by 8% year over year to 9.64 million tonnes, compared to 8.92 million tonnes recorded last year during the same quarter. 

During the quarter, the company commissioned its integrated cement unit in Andhra Pradesh, which has a production capacity of 3 million tonnes per annum. 

In addition, the company is undertaking capacity expansions, with 6 million tonnes per annum (MTPA) in Rajasthan, 3 MTPA in Karnataka, 3.4 MTPA in Chhattisgarh, and 3 MTPA in Uttar Pradesh. These projects are progressing as planned.

At 3:30 pm, the shares of Shree Cement closed 2.74% lower at Rs 26,100 on NSE.

Discover the next big investment! Unicorn Signals’ IPO screener helps you identify promising initial public offerings. Download Unicorn Signals and get ahead of the curve! Sign Up Now & Find Your Next IPO Gem!