On consolidated basis
Quarter ended September 2022 compared with Quarter ended September 2021.
Net sales (including other operating income) of Shree Cement has increased 19.70% to Rs 4038.03 crore. Operating profit margin has declined from 27.30% to 13.44%, leading to 41.07% decline in operating profit to Rs 542.76 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 7.32% to 8.01%. Purchase of finished goods cost rose from 0.70% to 0.86%. Employee cost decreased from 6.62% to 5.93%. Other expenses rose from 58.80% to 71.67%. Power and Oil fuel cost rose from 20.96% to 34.33%. Freight charges rose from 20.60% to 21.64%. Other income rose 3.76% to Rs 159.34 crore. PBIDT fell 34.66% to Rs 702.1 crore. Provision for interest rose 18.83% to Rs 66.01 crore. Loan funds rose to Rs 2,932.72 crore as of 30 September 2022 from Rs 2,142.93 crore as of 30 September 2021. Inventories rose to Rs 2,771.09 crore as of 30 September 2022 from Rs 2,062.12 crore as of 30 September 2021. Sundry debtors were higher at Rs 1,245.41 crore as of 30 September 2022 compared to Rs 825.85 crore as of 30 September 2021. Cash and bank balance declined from Rs 362.84 crore as of 30 September 2021 to Rs 190.68 crore as of 30 September 2022. Investments declined from Rs 8,814.38 crore as of 30 September 2021 to Rs 8,801.04 crore as of 30 September 2022. PBDT fell 37.58% to Rs 636.09 crore. Provision for depreciation rose 36.27% to Rs 395.62 crore. Fixed assets increased to Rs 9,040.56 crore as of 30 September 2022 from Rs 7,323.29 crore as of 30 September 2021. Intangible assets declined from Rs 59.42 crore to Rs 56.63 crore. Profit before tax down 67% to Rs 240.47 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 57.23 crore, compared to Rs 164.71 crore. Effective tax rate was 23.80% compared to 22.60%. Net profit attributable to owners of the company decreased 67.42% to Rs 183.36 crore. Equity capital stood at Rs 36.08 crore as of 30 September 2022 to Rs 36.08 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 62.55% as of 30 September 2022 ,compared to 62.55% as of 30 September 2021 .
Quarter ended September 2022 compared with Quarter ended June 2022.
Net sales (including other operating income) of Shree Cement has declined 8.54% to Rs 4038.03 crore. Operating profit margin has declined from 18.14% to 13.44%, leading to 32.22% decline in operating profit to Rs 542.76 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 7.10% to 8.01%. Purchase of finished goods cost rose from 0.53% to 0.86%. Employee cost increased from 5.40% to 5.93%. Other expenses rose from 69.21% to 71.67%. Power and Oil fuel cost rose from 33.57% to 34.33%. Freight charges rose from 20.28% to 21.64%. PBIDT fell 10.07% to Rs 702.1 crore. Provision for interest rose 19.09% to Rs 66.01 crore. Loan funds remained nil. PBDT fell 12.30% to Rs 636.09 crore. Provision for depreciation rose 13.15% to Rs 395.62 crore. Profit before tax down 35.98% to Rs 240.47 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 57.23 crore, compared to Rs 96.78 crore. Effective tax rate was 23.80% compared to 25.76%.Minority interest increased 81.25% to Rs -0.12 crore. Net profit attributable to owners of the company decreased 34.40% to Rs 183.36 crore. Promoters’ stake was 62.55% as of 30 September 2022 ,compared to 62.55% as of 30 June 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Shree Cement has increased 20.61% to Rs 8452.88 crore. Operating profit margin has declined from 27.74% to 15.89%, leading to 30.88% decline in operating profit to Rs 1,343.58 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 7.12% to 7.53%. Purchase of finished goods cost fell from 0.99% to 0.69%. Employee cost decreased from 6.53% to 5.65%. Other expenses rose from 58.27% to 70.37%. Power and Oil fuel cost rose from 20.05% to 33.93%. Freight charges fell from 21.62% to 20.92%. Other income fell 52.75% to Rs 139.24 crore. PBIDT fell 33.76% to Rs 1482.82 crore. Provision for interest rose 10.36% to Rs 121.44 crore. Loan funds rose to Rs 2,932.72 crore as of 30 September 2022 from Rs 2,142.93 crore as of 30 September 2021. Inventories rose to Rs 2,771.09 crore as of 30 September 2022 from Rs 2,062.12 crore as of 30 September 2021. Sundry debtors were higher at Rs 1,245.41 crore as of 30 September 2022 compared to Rs 825.85 crore as of 30 September 2021. Cash and bank balance declined from Rs 362.84 crore as of 30 September 2021 to Rs 190.68 crore as of 30 September 2022. Investments declined from Rs 8,814.38 crore as of 30 September 2021 to Rs 8,801.04 crore as of 30 September 2022. PBDT fell 36.04% to Rs 1361.38 crore. Provision for depreciation rose 32.18% to Rs 745.27 crore. Fixed assets increased to Rs 9,040.56 crore as of 30 September 2022 from Rs 7,323.29 crore as of 30 September 2021. Intangible assets declined from Rs 59.42 crore to Rs 56.63 crore. Profit before tax down 60.62% to Rs 616.11 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 154.01 crore, compared to Rs 369.88 crore. Effective tax rate was 25.00% compared to 23.64%.Net profit attributable to owners of the company decreased 61.19% to Rs 462.86 crore. Equity capital stood at Rs 36.08 crore as of 30 September 2022 to Rs 36.08 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 62.55% as of 30 September 2022 ,compared to 62.55% as of 30 September 2021 . Cash flow from operating activities decreased to Rs 648.43 crore for YTD ended September 2022 from Rs 1,025.70 crore for YTD ended September 2021. Cash flow used in acquiring fixed assets during the YTD ended September 2022 stood at Rs 1,476.73 crore, compared to Rs 871.10 crore during the YTD ended September 2021.
Full year results analysis.
Net sales (including other operating income) of Shree Cement has increased 10.69% to Rs 15009.56 crore. Operating profit margin has declined from 30.08% to 24.70%, leading to 9.11% decline in operating profit to Rs 3,707.93 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 7.23% to 7.44%. Purchase of finished goods cost rose from 0.32% to 0.58%. Employee cost decreased from 6.43% to 6.01%. Other expenses rose from 55.82% to 61.56%. Power and Oil fuel cost rose from 17.75% to 23.83%. Freight charges fell from 23.02% to 21.72%. Other income rose 24.56% to Rs 545.89 crore. PBIDT fell 5.84% to Rs 4253.82 crore. Provision for interest fell 14% to Rs 216.12 crore. Loan funds declined from Rs 2,229.88 crore as of 31 March 2021 to Rs 2,129.22 crore as of 31 March 2022. Inventories rose to Rs 2,497.02 crore as of 31 March 2022 from Rs 1,715.72 crore as of 31 March 2021. Sundry debtors were higher at Rs 788.29 crore as of 31 March 2022 compared to Rs 679.43 crore as of 31 March 2021. Cash and bank balance declined from Rs 708.35 crore as of 31 March 2021 to Rs 289.65 crore as of 31 March 2022. Investments rose to Rs 9,032.64 crore as of 31 March 2022 from Rs 8,500.50 crore as of 31 March 2021 . PBDT fell 5.36% to Rs 4037.7 crore. Provision for depreciation fell 9.23% to Rs 1145.88 crore. Fixed assets increased to Rs 8,278.51 crore as of 31 March 2022 from Rs 7,152.54 crore as of 31 March 2021. Intangible assets declined from Rs 60.25 crore to Rs 57.25 crore. Profit before tax down 3.74% to Rs 2,891.82 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 555.21 crore, compared to Rs 714.49 crore. Effective tax rate was 19.20% compared to 23.78%. Minority interest increased 25.54% to Rs 4.67 crore. Net profit attributable to owners of the company increased 2.02% to Rs 2,331.94 crore. Equity capital stood at Rs 36.08 crore as of 31 March 2022 to Rs 36.08 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 62.55% as of 31 March 2022 ,compared to 62.55% as of 31 March 2021 . Cash flow from operating activities decreased to Rs 2,667.88 crore for year ended March 2022 from Rs 4,253.79 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 2,218.22 crore, compared to Rs 1,134.61 crore during the year ended March 2021.
| Shree Cement : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 4,038.03 | 3,373.38 | 19.70 | 8,452.88 | 7,008.21 | 20.61 | 15,009.56 | 13,559.77 | 10.69 | | OPM (%) | 13.44 | 27.30 | -1,386 bps | 15.89 | 27.74 | -1,184 bps | 24.70 | 30.08 | -538 bps | | OP | 542.76 | 920.96 | -41.07 | 1,343.58 | 1,943.92 | -30.88 | 3,707.93 | 4,079.45 | -9.11 | | Other Inc. | 159.34 | 153.57 | 3.76 | 139.24 | 294.68 | -52.75 | 545.89 | 438.26 | 24.56 | | PBIDT | 702.10 | 1,074.53 | -34.66 | 1,482.82 | 2,238.60 | -33.76 | 4,253.82 | 4,517.71 | -5.84 | | Interest | 66.01 | 55.55 | 18.83 | 121.44 | 110.04 | 10.36 | 216.12 | 251.29 | -14.00 | | PBDT | 636.09 | 1,018.98 | -37.58 | 1,361.38 | 2,128.56 | -36.04 | 4,037.70 | 4,266.42 | -5.36 | | Depreciation | 395.62 | 290.33 | 36.27 | 745.27 | 563.85 | 32.18 | 1145.88 | 1262.34 | -9.23 | | PBT | 240.47 | 728.65 | -67.00 | 616.11 | 1564.71 | -60.62 | 2891.82 | 3004.08 | -3.74 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 240.47 | 728.65 | -67.00 | 616.11 | 1564.71 | -60.62 | 2891.82 | 3004.08 | -3.74 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 240.47 | 728.65 | -67.00 | 616.11 | 1564.71 | -60.62 | 2891.82 | 3004.08 | -3.74 | | Taxation | 57.23 | 164.71 | -65.25 | 154.01 | 369.88 | -58.36 | 555.21 | 714.49 | -22.29 | | PAT | 183.24 | 563.94 | -67.51 | 462.1 | 1194.83 | -61.33 | 2336.61 | 2289.59 | 2.05 | | Minority Interest (MI) | -0.12 | 1.11 | LP | -0.76 | 2.1 | LP | 4.67 | 3.72 | 25.54 | | Net profit | 183.36 | 562.83 | -67.42 | 462.86 | 1192.73 | -61.19 | 2331.94 | 2285.87 | 2.02 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 183.36 | 562.83 | -67.42 | 462.86 | 1192.73 | -61.19 | 2331.94 | 2285.87 | 2.02 | | EPS (Rs)* | 50.82 | 155.99 | -67.42 | 128.28 | 330.57 | -61.19 | 646.31 | 633.54 | 2.02 | | | * EPS is on current equity of Rs 36.08 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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