Shree Cement Q4 Results: Q4 Revenue up 7% to ₹5,101 Crore YoY; PAT jumps 21% to ₹662 Crore

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Synopsis:

This Q4FY24, Shree Cement has delivered a strong performance. With Q4 Revenue up 7% to ₹5,101 Crore YoY, the company’s PAT jumped 21% to ₹662 Crore and EBIDTA went up by 49% YoY, seeing a lot of growth.

5 Key Financial Highlights

Quarter four of FY24 has proven to be a very significant one for Shree Cement. Here are some of the main highlights from the Shree Cement Q4 Results:

  • Q4 Revenue up YoY by 7% from ₹ 4,785 crore to ₹ 5,101 crore

  • Q4  EBITDA up by 49% YoY

  • Q4 PAT up by 21% to ₹662 Crores

  • FY24 EBIDTA of ₹4,364 Crores

  • Final Dividend recommended by the Board of 550% for FY24

Explore: Shree Cement Limited Share Price

Key Business Updates:

  • In Q4FY24, the Company commissioned a green power capacity of ~ 80 MW capacity at different locations for catering to its captive requirement  

  • Q4FY24 also saw the Company become a member of the RE100 initiative led by Climate Group to advocate for businesses to convert to 100 percent renewable electricity for all their operations. 

  • The Company has improved its water positivity status from >6 times in FY 2022-23 to >7 times in FY 2023-24 

  • Shree Cement also avoided 9.4 lakh tonnes CO2 emissions during FY24. 

  • The Company has also initiated its efforts and taken action to add another 188 MW of green power capacity at various locations to help boost its green energy share.

  • Shree Cement also increased use of agro waste from 1.19 lakh tons in FY 2022-23 to 1.24 lakh tons in FY 2023-24

  • In Q4FY24, the Company entered into the Ready Mix Concrete (RMC) Business and signed an Asset Purchase Agreement with StarCrete LLP to purchase 5 RMC Plants in the Mumbai Metropolitan Region of Maharashtra at an aggregate consideration of ₹33.50 Crore.

  • Shree Cement also commissioned its first greenfield RMC facility of 90 cubic meters per hour capacity in Hyderabad, Telangana under the brand Bangur Concrete.

Additional Read:  Cement Sector in India

Profitability Analysis:

Shree Cement’s Q4FY24 has been a testament to some serious growth achieved by the company. With its Q4 Revenue up 7% to ₹5,101 Crore YoY, its PAT having jumped 21% to ₹662 Crore and EBIDTA up by 49% YoY, Q4 has shown significant profits that the company made in the quarter. This quarter also saw the total sale volume increase YoY by 8% from 8.83 million tonnes to 9.53 million tonnes. To add to this, the entirety of FY24 as well was quite interesting for the company. This financial year saw the company deliver its highest-ever full-year operating EBITDA of ₹4,364 Crore. Apart from this, Shree Cement’s annual turnover shot up by 16% to ₹19,586 Crore and an annual EBITDA also reached its highest-ever level of ₹4,364 Crore. The annual volume of sales for the year came to 35.5 million tonnes with 12% growth. The Board of Directors too have recommended a final dividend of ₹55 per share.

Additional Read: Quarterly Results

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Shree Cement (in ₹ Crore)

Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q4FY23

% change

FY24

FY23

% change

Net Revenue from Operations

5,101 

4,785

7%

19,586

16,837

16%

Operating Profit (EBIDTA) 

1,327

892

49%

4,364

2,942

48%

Profit after Tax

662

546

21%

2,468

1,328

86%

Cash Profit

1,349

1,157

17%

4,150

3,011

38%

The Future of Shree Cement

Shree Cement has seen quite a profitable fourth quarter this FY24. The numbers it has achieved in both the quarter and the whole of FY24 prove that the company is headed in the right direction in terms of its growth. The company also has many future projects lined up. Shree Cement has announced the work on an additional 18 million tonnes capacity expansion project has begun and it is progressing as per their schedule. Upon the completion of this project, the total cement production capacity of Shree Cement in India will reach to 74.80 million tonnes. In the next three years, the Company also plans to set up 100 Bangur Concrete plants that will operate out of 50 cities, generating 3000 direct and indirect employment opportunities.  When it comes to sustainability efforts, the Company has committed to using 100% renewable electricity by 2050. Shree Cement also believes that because of the government’s focus on infrastructure development, the cement demand in India would remain robust, to align with the country’s broader economic development goals.

Additional ReadAditya Birla Capital Q4 Results

Conclusion

With the numbers coming out in the financial results of Q4FY24 for Shree Cement, it can be clearly seen the progress the company has made in the quarter and the year itself. Add to this the fact that the company has maintained and continues to grow its sustainability efforts and has numerous projects in the pipeline, and we can see why the company is positive about its growth in FY25. 

Additional ReadBharti Airtel Q4 Results

About The Company:

Founded in Beawar, Rajasthan in the year 1979, and now headquartered in Kolkata Shree Cement is an Indian cement manufacturer. The company happens to be India's third-largest cement producer and has grown considerably in the past 20 years from producing 2 million tonnes to 46.9 million tonnes in India and 50.9 million tonnes overseas. 

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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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Frequently Asked Questions

What was the revenue that Shree Cement has been able to make in Q4?

Answer Field

Shree Cement’ Q4 revenue stood at ₹5,101 Crore up from ₹4,785 Crore, up 7% YoY and its FY24 revenue was ₹19,586 Crore up from ₹16,837 Crore up 16% YoY

 

What are some of the main business updates for Shree Cement?

Answer Field

Other than the tremendous growth that Shree Cement saw in Q4 and FY24, the company also had many other business updates to share. Here is a list of some of them:

  • In Q4FY24, the Company commissioned a green power capacity of ~ 80 MW capacity at different locations for catering to its captive requirement  

  • Q4FY24 also saw the Company become a member of the RE100 initiative led by Climate Group to advocate for businesses to convert to 100 percent renewable electricity for all their operations. 

  • Shree Cement also avoided 9.4 lakh tonnes CO2 emissions during FY24. 

  • The Company has also initiated its efforts and taken action to add another 188 MW of green power capacity at various locations to help boost its green energy share.

  • Shree Cement also increased use of agro waste from 1.19 lakh tons in FY 2022-23 to 1.24 lakh tons in FY 2023-24

  • In Q4FY24, the Company entered into the Ready Mix Concrete (RMC) Business and signed an Asset Purchase Agreement with StarCrete LLP to purchase 5 RMC Plants in the Mumbai Metropolitan Region of Maharashtra at an aggregate consideration of ₹33.50 Crore.

  • Shree Cement also commissioned its first greenfield RMC facility of 90 cubic meters per hour capacity in Hyderabad, Telangana under the brand Bangur Concrete.

What was the Q4 and the FY24 PAT for Shree Cement?

Answer Field

Shree Cement saw a Q4FY24 PAT ₹662 Crore up from ₹546 Crore by 21% while its FY24 PAT stood at  ₹2,468 Crore up from ₹1,328 Crore by 86%.

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