Shree Cement Q2 Profit Drops 81 Margins Fall 319 bps

12 Nov 2024 CW Team

Shree Cement, a midcap cement company, released its quarterly results after market hours for the July quarter. The company's standalone profit for the reporting period sharply declined by 81 per cent, falling from Rs 4.90 billion in Q2FY24 to Rs 930.1 million. In the previous June quarter, the company's net profit had been Rs 3.17 billion.

The revenue for the cement manufacturer also dropped to Rs 37.30 billion, compared to Rs 45.60 billion in the same period last year.

The company’s profit and revenue to be Rs 41.63 billion, marking a 9 per cent decrease, while the profit after tax (PAT) was projected to sink by 84 per cent year-on-year, to Rs 780.4 million for the September quarter.

On the operational side, EBITDA was reported at Rs 5.90 billion, down from Rs 8.70 billion in the same quarter of the previous year. The EBITDA margin slipped by 3.18 per cent or 318 basis points to 15.9 per cent. Analysts had expected the margins to be around 16.1 per cent, down from 19.08 per cent in Q2FY24.

Analysts had anticipated a drag on the company’s earnings, influenced by a decline in both cement prices and revenue during the quarter.

There was also an expectation that new capacity expansion would drive volume growth during the review quarter.

Despite the challenging demand conditions, due to the prolonged monsoon and softer prices affecting the industry, the company’s focus on maintaining brand equity, product premiumisation, and improving its geo-mix helped maintain its realisations on a quarter-on-quarter basis. Additionally, cost optimisation and operational efficiency measures contributed to driving EBITDA during the quarter, according to the company’s press release.

Infrastructure Energy

22 Oct 2025

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..