Kolkata, January 30, 2025 – Shree Cement Ltd. announced its unaudited financial results for the quarter and nine months ended December 31, 2024. The company also declared an interim dividend of ₹50 per equity share for the financial year 2024-25.
Financial Highlights (Standalone)
Quarterly Performance (Q3 FY 2024-25)
| Particulars | Q3 FY25 (₹ Cr) | Q2 FY25 (₹ Cr) | Q3 FY24 (₹ Cr) |
|---|
| Revenue from Operations | ₹4,235.49 | ₹3,727.00 | ₹4,873.06 |
| Total Income | ₹4,350.36 | ₹3,904.58 | ₹5,008.49 |
| Profit Before Tax (PBT) | ₹259.00 | ₹44.76 | ₹966.38 |
| Profit After Tax (PAT) | ₹229.41 | ₹93.13 | ₹734.23 |
| EPS (₹ per share) | ₹63.58 | ₹25.81 | ₹203.49 |
The company reported a 13.63% QoQ increase in revenue but a 13.07% YoY decline compared to Q3 FY24. Profit After Tax (PAT) stood at ₹229.41 crore, down 68.74% YoY from ₹734.23 crore in Q3 FY24.
Nine-Month Performance (April-December 2024)
| Particulars | 9M FY25 (₹ Cr) | 9M FY24 (₹ Cr) |
|---|
| Revenue from Operations | ₹12,797.18 | ₹14,404.00 |
| Total Income | ₹13,224.22 | ₹14,827.22 |
| Profit Before Tax (PBT) | ₹654.60 | ₹2,273.39 |
| Profit After Tax (PAT) | ₹640.25 | ₹1,806.68 |
| EPS (₹ per share) | ₹177.45 | ₹500.73 |
Revenue for 9M FY25 declined 11.15% YoY, and PAT dropped 64.57% YoY, reflecting margin pressures.
Financial Highlights (Consolidated)
Quarterly Performance (Q3 FY 2024-25)
| Particulars | Q3 FY25 (₹ Cr) | Q2 FY25 (₹ Cr) | Q3 FY24 (₹ Cr) |
|---|
| Revenue from Operations | ₹4,572.68 | ₹4,054.17 | ₹5,193.47 |
| Total Income | ₹4,683.46 | ₹4,235.55 | ₹5,340.94 |
| Profit Before Tax (PBT) | ₹224.71 | ₹23.28 | ₹912.64 |
| Profit After Tax (PAT) | ₹193.72 | ₹76.64 | ₹701.85 |
| EPS (₹ per share) | ₹53.61 | ₹21.18 | ₹194.54 |
Nine-Month Performance (April-December 2024)
| Particulars | 9M FY25 (₹ Cr) | 9M FY24 (₹ Cr) |
|---|
| Revenue from Operations | ₹13,750.81 | ₹15,002.79 |
| Total Income | ₹14,182.10 | ₹15,451.28 |
| Profit Before Tax (PBT) | ₹553.84 | ₹2,152.11 |
| Profit After Tax (PAT) | ₹548.81 | ₹1,720.41 |
| EPS (₹ per share) | ₹152.01 | ₹476.94 |
Revenue and profit saw a downward trend, with PAT declining 68.08% YoY, primarily due to rising operational costs and lower realizations.
Segmental and Operational Performance
- Cost of Materials Consumed (Q3 FY25): ₹437.36 crore (up 7.84% QoQ, down 11.46% YoY).
- Power & Fuel Costs (Q3 FY25): ₹1,037.87 crore (down 12.05% YoY, reflecting lower coal costs).
- Freight & Forwarding Expenses: ₹1,049.17 crore (up 11.61% YoY, indicating higher logistics costs).
- Depreciation & Amortization: ₹799.11 crore (up 80.12% YoY).
Balance Sheet & Financial Ratios
| Ratio | Q3 FY25 | Q2 FY25 | Q3 FY24 |
|---|
| Debt-to-Equity Ratio | 0.04 | 0.04 | 0.07 |
| Interest Coverage Ratio | 20.08x | 13.58x | 17.33x |
| Net Worth (₹ Cr) | ₹21,139.95 | ₹20,879.28 | ₹20,201.14 |
| Current Ratio | 2.01x | 2.01x | 1.84x |
| Net Profit Margin | 4% | 2% | 14% |
The company maintained a strong financial position, with low leverage and adequate liquidity.
Dividend Announcement
The Board declared an interim dividend of ₹50 per share for FY 2024-25. The record date is February 5, 2025, and the payout will commence on February 17, 2025.
Key Developments
- Income Tax Investigation: The company received notices from tax authorities for reopening past assessments after an Income Tax survey in June 2023. Management stated that no financial adjustments were required.
- Debt Profile: The 7.80% Secured Redeemable Non-Convertible Debentures issued by Shree Cement remain fully secured against company assets.
Outlook & Conclusion
Despite a challenging macroeconomic environment, Shree Cement remains focused on cost optimization, operational efficiency, and strategic expansions. While margins have been impacted, the company maintains a strong balance sheet and continues rewarding shareholders.
With a resilient demand outlook in infrastructure and housing, Shree Cement is expected to navigate short-term pressures and capitalize on future growth opportunities.