Mumbai, January 30, 2025 – Shree Cement, India’s third largest cement group by capacity, today announced its financial results for the quarter and nine months ended on 31st December, 2024. The Company reported ₹ 4,235 crore of revenue and ₹ 947 crore of EBITDA.
Financial Highlight (Standalone)
| Particulars | Quarter ended | % Change | |||
| 31st December, 31st December, 30th September,
2024 2023 2024 |
YoY QoQ | ||||
| Net Revenue from Operations | 4,235 | 4,873 | 3,727 | -13% | 14% |
| Operating Profit (EBITDA) | 947 | 1,234 | 593 | -23% | 60% |
| Profit after Tax | 229 | 734 | 93 | -69% | 146% |
| Cash Profit | 966 | 1,074 | 709 | -10% | 36% |
Operational highlights (Standalone)
- Total sale volumes up by 15% from 7.60 million tonnes to 8.77 million tonnes on QoQ basis
- Power & fuel cost optimized by 9% to ₹913 crore v/s ₹ 1,001 crore in Q2’FY25 due to softer fuel prices and operational efficiency
- EBITDA jumped to ₹947 crore from ₹ 593 crore on QoQ basis
- Led by cost optimization and efficiency measures, total expenditure (excluding depreciation and interest) came down from ₹4,122/ tonne to ₹3,748/ tonne on QoQ basis
- Sales of premium products stood at 15.0% of trade sale volume vs 14.9% in Q2’FY25
Commenting on the company’s performance for the quarter, Mr. Neeraj Akhoury, Managing Director of Shree Cement Ltd., stated, “Our strategy of prioritizing premium, high value products coupled with sharp focus on brand enhancement, strengthening the dealer network and optimizing the geo-mix has enabled us to improve our sale volumes. The results of our continued emphasis on operational excellence, efficiency improvements, and cost optimization are evident in our streamlined production costs this quarter. Looking ahead, we remain committed to increasing the volume of our premium product offerings and maintaining our relentless focus on further cost optimization.”
Capex Plans
The Company’s ongoing expansion projects in Jaitaran, Rajasthan (6.0 MTPA), Kodla, Karnataka (3.00 MTPA), Baloda Bazar, Chhattisgarh (3.40 MTPA), and Etah, Uttar Pradesh (3.00 MTPA) are
nearing completion. The Company expects to commission all these projects in the first quarter of FY25-26. The Company is continuously working to identify suitable opportunities to achieve its goal of achieving > 80 MTPA capacity by 2028.
Sustainability initiatives
In Q3 FY’25, the Company continued its efforts to improve its performance regarding its commitment to operational excellence and sustainable growth. Key highlights are:
- The Company’s share of green electricity in total electricity consumption stood at 55.1% in Q3’FY25 which is one of the highest in the Indian cement industry. The Company is consistently ramping up its green power generation capacity which stood at 522 MW at the end of Q3’FY25, up by 9% vis-à-vis 480 MW at the beginning of the FY24-25.
- The Company used 0.24 lakh tonnes of agro waste in its cement operations to conserve fossil fuel equivalent to producing 71 billion kCal and saving 0.28 lakh tonnes of CO2. As part of this agro waste consumption, the Company procured 7,130 tonnes of stubble during the quarter for its operations within the NCR region. The Company also consumed 1.04 lakh tonnes of hazardous waste during Q3’FY25, replacing the fossil fuel-based heat by 50.4 billion kCal.
- All the Company’s manufacturing locations are Zero Liquid Discharge, treating, recycling, and reusing 100% of wastewater generated from our operations. With a good monsoon this year, the Company aims to improve its water positively level of >7 times achieved in FY23-24.
- During the quarter, the Company commenced operations of its state-of-the-art, end-to-end solid waste feeding system for municipal solid waste consumption at one of its locations and this is being replicated at other plants also. This initiative shall help us enhance proportion of alternative fuel consumption and improve TSR level.