Earlier, on 21 June 2023 the company had informed regarding the survey conducted by Income Tax department at five locations of Shree Cement in Rajasthan. The company is extending its full cooperation to the authorities, it added.
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 company reported 43.7% fall in net profit to Rs 276.77 crore despite of 14.6% jump in revenue from operations to Rs 4,068.79 crore in Q4 FY23 over Q4 FY22.