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Shree Cem: Healthy volumes, lower fuel costs boost profits - Views on News from Equitymaster
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  • May 30, 2016 - Shree Cem: Healthy volumes, lower fuel costs boost profits

Shree Cem: Healthy volumes, lower fuel costs boost profits
May 30, 2016

Shree Cement has announced its financial results for the quarter ended March 2016. The company's sales and net profit increased by 28.2% YoY and 86.5% YoY respectively during the quarter. Here is our analysis of the results:

Performance Summary
  • Standalone net sales increased by 28.2% YoY during the quarter ended March 2016 driven by healthy growth in both cement and power segment.
  • Operating profit increased by 49.6% YoY; operating margins expanded from 21.5% in 3QFY15 to 25.0% in 3QFY16.
  • At the bottomline level, net profits increased by 86.5% YoY during the quarter.

    Standalone Financial Performance Snapshot
    (Rs m) 3QFY15 3QFY16 Change
    Net sales 15,733 20,174 28.2%
    Expenditure 12,358 15,124 22.4%
    Operating profit (EBITDA) 3,375 5,050 49.6%
    EBITDA margin 21.5% 25.0%
    Other income 535 755 41.0%
    Depreciation 2,629 3,338 26.9%
    Finance costs 270 286 5.7%
    Profit before tax & exceptional items 1,010 2,182 115.9%
    Exceptional gains/(losses) -40 -1
    Profit before tax 971 2,181 124.6%
    Tax -226 -53 NA
    Effective tax rate NA NA
    Profit after tax 1,197 2,233 86.5%
    Net profit margin 7.6% 11.1%
    No of shares (m) 34.8
    Diluted EPS (Rs)* 160
    P/E (times)* 83.2

    *trailing twelve month earnings

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