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Shree Cem: Power biz aids margins - Views on News from Equitymaster
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Shree Cem: Power biz aids margins
Dec 2, 2015

Shree Cement has announced its financial results for the quarter ended September 2015. The company's sales and net profit increased by 7.4% YoY and 18.3% YoY respectively during the quarter. Here is our analysis of the results:

Performance summary

  • Standalone net sales increased by 7.4% YoY during the quarter ended September 2015 (1QFY16).
  • Operating profit increased by 15.1% YoY; operating margins expanded from 21% in 1QFY15 to 22.5% in 1QFY16.
  • At the bottomline level, net profits increased by 18.3% YoY during the quarter.

Standalone Financial Performance Snapshot

(Rs m) 1QFY15 1QFY16 Change
Net sales 16,053 17,235 7.4%
Expenditure 12,677 13,350 5.3%
Operating profit (EBITDA) 3,376 3,885 15.1%
EBITDA margin 21.0% 22.5%  
Other income 309 238 -22.9%
Depreciation 2,227 2,704 21.5%
Finance costs 350 232 -33.6%
Profit before tax & exceptional items 1,109 1,187 7.1%
Exceptional gains/(losses) (67) (21)  
Profit before tax 1,041 1,166 11.9%
Tax (47) (122) 159.8%
Effective tax rate NA NA  
Profit after tax 1,088 1,287 18.3%
Net profit margin 6.8% 7.5%  
No of shares (m) 34.8 34.8  
Diluted EPS (Rs)*   321.6  
P/E (times)*   35.3  

*trailing twelve month earnings

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