Capitaline

Results 31-Jan-25

Analysis

Star Cement

Revenue up 10.3% YoY to Rs 718.8 crore in Q3FY2025

On consolidated basis

Quarter ended December 2024 compared with Quarter ended December 2023.

Net sales (including other operating income) of Star Cement has increased 10.34% to Rs 718.76 crore.

Operating profit margin has declined from 22.84% to 14.50%, leading to 29.93% decline in operating profit to Rs 104.23 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 14.74% to 22.70%. Employee cost increased from 7.99% to 8.31%. Other expenses fell from 55.46% to 54.70%. Power and Oil fuel cost fell from 19.59% to 15.74%. Other direct service cost fell from 24.23% to 21.88%.

Other income fell 38.98% to Rs 2.52 crore. PBIDT fell 30.17% to Rs 106.75 crore. Provision for interest rose 231.08% to Rs 9.8 crore.

PBDT fell 35.33% to Rs 96.95 crore. Provision for depreciation rose 144.70% to Rs 89.34 crore.

Profit before tax down 93.29% to Rs 7.61 crore. Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 1.44 crore, compared to debit of Rs 39.89 crore. Effective tax rate was negative 18.92% compared to 35.17%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 87.68% to Rs 9.06 crore.

Promoters’ stake was 57.69% as of 31 December 2024 ,compared to 66.48% as of 31 December 2023 . Promoters pledged stake was 1.12% as of 31 December 2024

Year-to-date (YTD) results analysis.

Net sales (including other operating income) of Star Cement has increased 5.72% to Rs 2111.31 crore.

Operating profit margin has declined from 18.86% to 14.96%, leading to 16.11% decline in operating profit to Rs 315.92 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 14.95% to 20.88%. Employee cost increased from 7.88% to 8.74%. Other expenses fell from 58.62% to 55.64%. Power and Oil fuel cost fell from 21.57% to 16.14%. Other direct service cost fell from 24.67% to 24.32%.

Other income fell 70.26% to Rs 5.54 crore. PBIDT fell 18.67% to Rs 321.46 crore. Provision for interest rose 169.94% to Rs 22.81 crore.

PBDT fell 22.79% to Rs 298.65 crore. Provision for depreciation rose 134.24% to Rs 244.41 crore.

Profit before tax down 80.80% to Rs 54.24 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 8.53 crore, compared to Rs 75 crore. Effective tax rate was 15.73% compared to 26.55%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 77.90% to Rs 45.84 crore.

Promoters’ stake was 57.69% as of 31 December 2024 ,compared to 66.48% as of 31 December 2023 . Promoters pledged stake was 1.12% as of 31 December 2024

Full year results analysis.

Net sales (including other operating income) of Star Cement has increased 7.61% to Rs 2910.67 crore.

Operating profit margin has jumped from 17.32% to 19.11%, leading to 18.77% rise in operating profit to Rs 556.31 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 13.19% to 16.00%. Employee cost increased from 7.23% to 7.42%. Other expenses fell from 62.37% to 57.36%. Power and Oil fuel cost fell from 19.86% to 19.18%. Other direct service cost fell from 29.05% to 25.62%.

Other income fell 49.17% to Rs 26.47 crore. PBIDT rose 11.97% to Rs 582.78 crore. Provision for interest rose 29.90% to Rs 12.6 crore. Loan funds rose to Rs 146.94 crore as of 31 March 2024 from Rs 35.35 crore as of 31 March 2023. Inventories declined from Rs 374.11 crore as of 31 March 2023 to Rs 334.96 crore as of 31 March 2024. Sundry debtors were higher at Rs 150.78 crore as of 31 March 2024 compared to Rs 104.69 crore as of 31 March 2023. Cash and bank balance declined from Rs 311.74 crore as of 31 March 2023 to Rs 97.34 crore as of 31 March 2024. Investments declined from Rs 172.55 crore as of 31 March 2023 to Rs 1.99 crore as of 31 March 2024.

PBDT rose 11.63% to Rs 570.18 crore. Provision for depreciation rose 11.81% to Rs 146.6 crore. Fixed assets increased to Rs 2,432.50 crore as of 31 March 2024 from Rs 1,437.58 crore as of 31 March 2023. Intangible assets increased from Rs 3.98 crore to Rs 5.03 crore.

Profit before tax grew 11.57% to Rs 423.58 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 128.47 crore, compared to Rs 132.06 crore. Effective tax rate was 30.33% compared to 34.78%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 19.19% to Rs 295.11 crore.

Equity capital stood at Rs 40.42 crore as of 31 March 2024 to Rs 40.42 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00.

Promoters’ stake was 66.59% as of 31 March 2024 ,compared to 67.12% as of 31 March 2023 . Promoters pledged stake was 0.08% as of 31 March 2024

Cash flow from operating activities increased to Rs 489.75 crore for year ended March 2024 from Rs 358.44 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 1,036.46 crore, compared to Rs 571.86 crore during the year ended March 2023.

Star Cement : Consolidated Results

	Quarter ended			Year to Date			Year ended
Particulars	202412	202312	Var.(%)	202412	202312	Var.(%)	202403	202303	Var.(%)
Net Sales (including other operating income)	718.76	651.40	10.34	2,111.31	1,997.14	5.72	2,910.67	2,704.85	7.61
OPM (%)	14.50	22.84	-833 bps	14.96	18.86	-389 bps	19.11	17.32	180 bps
OP	104.23	148.75	-29.93	315.92	376.60	-16.11	556.31	468.39	18.77
Other Inc.	2.52	4.13	-38.98	5.54	18.63	-70.26	26.47	52.08	-49.17
PBIDT	106.75	152.88	-30.17	321.46	395.23	-18.67	582.78	520.47	11.97
Interest	9.80	2.96	231.08	22.81	8.45	169.94	12.60	9.70	29.90
PBDT	96.95	149.92	-35.33	298.65	386.78	-22.79	570.18	510.77	11.63
Depreciation	89.34	36.51	144.70	244.41	104.34	134.24	146.6	131.11	11.81
PBT	7.61	113.41	-93.29	54.24	282.44	-80.80	423.58	379.66	11.57
Share of Profit/(Loss) from Associates	0	0	-	0	0	-	0	0	-
PBT before EO	7.61	113.41	-93.29	54.24	282.44	-80.80	423.58	379.66	11.57
EO Income	0	0	-	0	0	-	0	0	-
PBT after EO	7.61	113.41	-93.29	54.24	282.44	-80.80	423.58	379.66	11.57
Taxation	-1.44	39.89	LP	8.53	75	-88.63	128.47	132.06	-2.72
PAT	9.05	73.52	-87.69	45.71	207.44	-77.96	295.11	247.6	19.19
Minority Interest (MI)	-0.01	0	-	-0.13	0	-	0	0	-
Net profit	9.06	73.52	-87.68	45.84	207.44	-77.90	295.11	247.6	19.19
P/(L) from discontinued operations net of tax	0	0	-	0	0	-	0	0	-
Net profit after discontinued operations	9.06	73.52	-87.68	45.84	207.44	-77.90	295.11	247.6	19.19
EPS (Rs)*	0.19	1.82	-89.64	1.13	5.13	-77.90	7.30	6.13	19.19

* EPS is on current equity of Rs 40.42 crore, Face value of Rs 1, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Previous News

Star Cement Ltd leads losers in 'A' group
( Hot Pursuit - 25-Aug-21 15:01 )

Star Cement to declare Quarterly Result
( Corporate News - 05-Aug-21 13:01 )

Star Cement tumbles over 4% in eight sessions
( Hot Pursuit - 18-Jan-21 10:43 )

Volumes soar at Laurus Labs Ltd counter
( Hot Pursuit - 14-Mar-19 11:00 )

Star Cement standalone net profit rises 25.70% in the June 2018 quarter
( Results - Announcements 27-Jul-18 16:57 )

Star Cement announces board meeting date
( Corporate News - 30-Jan-21 15:59 )

Star Cement spurts after receiving freight subsidy claims
( Hot Pursuit - 14-Mar-19 09:21 )

Star Cement consolidated net profit declines 16.59% in the June 2018 quarter
( Results - Announcements 27-Jul-18 17:01 )

Star Cement appoints director
( Corporate News - 20-Mar-23 15:18 )

Volumes soar at Mahindra Logistics Ltd counter
( Hot Pursuit - 08-Jun-20 14:30 )

Star Cement AGM scheduled
( Corporate News - 13-Aug-24 16:16 )