India's Shree Cement Q4 profit beats view on strong sales volume
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2024
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Source: reuters
- Shree Cement's Financial Performance: Shree Cement, India's third-largest cement maker, reported a higher-than-expected profit in the fourth quarter due to increased volumes driven by lower cement prices.
- Quarterly Results: The company's profit for the quarter ended March 31 rose to 6.62 billion rupees, surpassing street expectations of 6.20 billion rupees.
- Sales and Revenue Growth: Shree Cement saw an 8% increase in total sales volumes to 9.53 million tonnes, leading to a 6.6% rise in revenue to 51.01 billion rupees.
- Industry Peers' Performance: Other cement companies like UltraTech Cement, ACC, and Dalmia Bharat also reported better-than-expected profits supported by volume growth.
- Market Impact and Outlook: Shree Cement recommended a final dividend of 55 rupees per share, but its shares have fallen about 9.17% this year amid expectations of reduced demand due to the ongoing general elections in India.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
