Shree Cements announced Q1FY24 results: Net revenue up YoY by 19% from Rs 4,203 crore to Rs 4,999 crore Total sale volume increased YoY by 19% from 7.50 million tonnes to 8.92 million tonnes EBIDTA up YoY by 14% from Rs 819 crore to Rs 933 crore Sale of premium products rise to 8.8%, a 6.3% on a YoY basis Delivers volume growth of 19% with EBITDA increasing by 14% YoY. PAT improves by 84%. Starts 12 million tonnes cement capacity expansion projects in Rajasthan, Uttar Pradesh, and Karnataka at a total investment of ~ Rs 7,000 crore. Makes strategic diversification to ready mix concrete, starting with a plan to set up 5 ready mix units by this year. Commenting on the performance, Neeraj Akhoury, Managing Director, Shree Cement said, “Shree Cement’s quarter performance confirms that our strategic intents are starting to deliver results. Our bold actions to grow ahead of the industry with a focus on organic growth, sharpening operational efficiencies & improve special product sales will continue to be executed in the coming years. Shree has embarked on an ambitious journey to push the limits of its performance. We are also determined to bring world-class technology enablers, especially digital tools, to create robust routes to markets and plant operations. Shree leads on green power share and we will continue to examine every step to make Shree the greenest cement company. We have started the trial commissioning of our new unit at Purulia, West Bengal, and are confident to commence operations of new plants at Nawalgarh in Rajasthan and Guntur in Andhra Pradesh within scheduled timelines. We are also happy to announce our next phase of capacity expansion projects of 12 million tonnes that will take the group’s cement capacity to 72.4 million tonnes.” Akhoury added, “The current macro-economic environment in the country combined with government focus is supporting growth for the cement sector. Accordingly, we are accelerating our growth plans to ensure that we seize the opportunity to the maximum. We have set an ambitious goal of taking our capacity beyond 80 million tons in the coming years and are aggressively charting out action plans to implement the same.” Result PDF