Shree Cements Q4 Results 2022: Net Profit drops by 17.59% for Q4FY22

On 21st May 2022,  Shree Cements announced its quarterly results for the last quarter of FY2022.

Key Highlights:

Q4FY22:

- Shree Cements reported a Profit Before Tax at Rs.707.27 Crores for Q4FY22 from Rs.979.78 Crores in Q4FY21, a decline of 27.81%

- The company's revenue from operations rose 3.05% to Rs.4364.24 Crores in the quarter under review from Rs.4234.99 Crores in the same quarter last fiscal.

- Shree Cements reported a net profit of Rs.659.08 Crores from Rs.799.79 Crores in Q4FY21, a drop by 17.59% 

FY2022: 

- The company reported PBT at Rs.2891.82 Crores for FY2022 from Rs.3004.08 Crores in FY2021, with a decline of 3.73%

- The company's revenue from operations rose by 10.62% to Rs.15009.56 Crores for the year from Rs.13559.77 Crores in FY2022.

- Shree Cements reported a Net profit of Rs.2336.61 Crores with a growth of 2.05% YoY.

Other Highlights:

- The cost of raw materials as a percentage of revenues declined 70 bps on year to 6.6 percent. On a sequential basis, the saving was 140 bps.

- Employee costs as a percentage of revenue witnessed a steady decline both on a year and quarter-on-quarter basis to 4.8 percent, compared to 6.2 percent during the same period last year and 5.5 percent during the previous quarter, said Shree Cement.

- The rise in energy prices has inflated the power bill for the company by 10.1% YoY and 3.4% QoQ. The power cost as a percentage of revenue came in at 26.2% during the quarter.

- The impact of rising crude oil prices was visible in the rising freight and forwarding charges compared to the previous quarter to 23 percent, a sequential increase of 1.5 percent. On a yearly basis, however, the freight cost declined by 1.1 percent.

- On February 1, the company started commercial operations of its clinker grinding unit at Patas in Pune District having a capacity of 3.0 MTPA (million tonnes per annum). On March 28, it started the commercial operations of its 12,000 tpd (tons per day) or 4MTPA clinker unit (kiln 3) at Beloda Bazar in Raipur district

The company has recommended a final dividend of Rs.45 per equity share of Rs.10 each for the financial year ended March 2022.