Shree Cement is totally slaying it, guys. They just dropped their financial results for the quarter and year ended on March 31, 2024, and damn, they’re killing the game.
Check this out, peeps: their net revenue from operations for Q4 increased by 7% to ₹5,101 crore, while the annual turnover shot up by a massive 16% to ₹19,586 crore. That’s some serious moolah. And listen to this, their operating profit (EBIDTA) for Q4 spiked by a jaw-dropping 49% to ₹1,327 crore, making it the highest EBIDTA they’ve ever delivered. And for the whole year, their EBIDTA hit a record high of ₹4,364 crore.
Neeraj Akhoury, the big boss at Shree Cement, is stoked about their killer financial performance. He says it’s all about focusing on operational efficiencies and expanding capacity through green and brownfield projects. Plus, their digital transformation game is on point, making their operations smoother and empowering their peeps with data-driven decision-making skills.
Oh, and check this move out, guys. They’re consolidating all their products under the master brand ‘Bangur’. Plus, they’re diving into the Ready Mix Concrete (RMC) business. They just snagged 5 RMC Plants in Mumbai Metropolitan Region and commissioned their first greenfield RMC facility in Hyderabad, Telangana, under the Bangur Concrete brand. They’ve got plans to set up around 100 Bangur Concrete plants in the next 3 years.
And here’s the kicker, they’re all about sustainability too. During FY 2023-24, they increased their green power consumption, avoided a whopping 9.4 lakh tonnes of CO2 emissions, and used more agro waste to replace fossil fuels. Plus, they’re all about that biofuel life, cutting carbon emissions and all that jazz.
They’re also making big moves to reduce the impact of hazardous waste on the environment, increasing their consumption of hazardous fuel and improving their water positivity status.
Oh, and here’s some cool news! Shree Cement just joined the RE100 initiative, committing to using 100% renewable electricity by 2050.
And hold onto your hats, folks, because there’s more. The Board of Directors just recommended a final dividend of ₹55 per share for the year 2023-24. Cha-ching.
Looking ahead, with the government going big on infrastructure development and real estate buzzing, the cement demand in India is set to keep booming, just like Shree Cement’s success story.
