EBITDA fell 2% to Rs 892 crore in Q4 FY23 as compared with Rs 911 crore in Q4 FY22. EBITDA margin

Proportion of premium products sale against total trade cement sale was 7.5% in Q4 FY23 as against 7.2% in Q3 FY23.

Total sale volume increased QoQ by 10% from 8.03 million tonnes to 8.83 million tonnes.

The share of blended cement (low carbon cement) improved from 75.46% in Q4 FY22 to 76.04% in Q4 FY23.

During the quarter, the company's fossil fuel substitution was 4.35% against 4.20% in the corresponding quarter of the previous year. The company said that it is stepping up its efforts to increase use of agriculture, industrial and municipal waste to improve thermal substitution rate (TSR).

On full year basis, the company's net profit rose 2.8% to Rs 2,376.62 crore on 12.9% jump in revenue from operations to Rs 14,305.88 crore in Q4 FY23 over Q4 FY22.

On cement market outlook, the company said that given the government's focus on infrastructure growth in the Union Budget 2023-24 through higher allocation for road construction projects, Pradhan Mantri Awas Yojana (PMAY), ever highest capital investment outlay, etc. and other overall buoyancy in the economy, cement sector is likely to continue robust growth in coming year as well.

Neeraj Akhoury, managing director, Shree Cement, said, “We are driving prioritized initiatives to increase green power, usage of alternative fuels, process automations combined with advanced digitalization of the operations to deliver superior performance.

The improved performance during this quarter is testimony of such initiatives amidst the challenge of managing high fuel costs. Our resolve to step up actions on strengthening brand equity is under execution and we are confident to deliver volume growth with focus on premium cement creating enhanced value for our customers. We continue to execute sharp action plans to reach beyond 80 million tons cement capacity in the coming years.”

Meanwhile the board has declared second interim dividend of Rs 55 per equity share for FY23. The record date is fixed as on Thursday, 1 June 2023. The dividend shall be paid from Tuesday, 13 June 2023.

Shree Cement is one of India's top three cement producers. Its portfolio of products includes Shree Jung Rodhak Cement, Bangur Cement, Roofon and Rockstrong Cement.

The scrip rallied 2.79% to Rs 25,157.40 on the BSE.