Shree Cement Q4 Results: Profit Falls 16% But Tops Estimates, Big Miss On Ebitda
Shree Cement's net profit fell 15.9% year-on-year to Rs 645.2 crore on the back of revenue that rose 3.55% to Rs 4,098.8 crore.
Shree Cement Ltd.’s fourth-quarter profit fell but topped estimates even as operational performance lagged.
Net profit fell 15.9% year-on-year to Rs 645.2 crore in the three months ended March 31, on the back of revenue that rose 3.55% to Rs 4,098.8 crore, according to an exchange filing on Saturday.
Analysts tracked by Bloomberg had pegged the bottom line at Rs 595.5 crore and the top line at Rs 4,198.1 crore.
The company's operational performance, however, missed estimates by a wide margin, primarily due to higher share of power and fuel expenses -- 20.8% of net sales in the fourth quarter. That figure stood at 12.8% a year ago.
Shree Cements Q4 Results: Key Highlights (YoY)
Revenues up 3.6% at Rs 4,098.8 crore (Estimate: Rs 4,198.1 crore)
Net profit down 15.9% at Rs 645.2 crore (Estimate: Rs 595.5 crore)
EBITDA down 22.9% at Rs 910.6 crore (Estimate: Rs 1,010.7 crore)
EBITDA margin at 22.2% vs 29.9%
The company said it received Rs 100.2 crore in tax reversals from previous financial years. That aided profit in the January-March quarter.
The board of directors has recommended a final dividend of Rs 45 per equity share of face value Rs 10 each for FY22, subject to approval of members in the next annual general meeting.