Shree Cements announced Q2FY24 results: Financial Performance: Net revenue up YoY by 21% from Rs 3,781 crore to Rs 4,585 crore Total sale volume increased YoY by 10% from 7.46 million tonnes to 8.20 million tonnes Capacity utilization improved from 65% to 71% on a YoY basis EBIDTA up YoY by 66% from Rs 523 crore to Rs 870 crore Operational Highlights: Total sale volume increased by 10% from 7.46 million tonnes to 8.20 million tonnes. Capacity utilization improved from 65% to 71% on a year-on-year basis. Sale of premium products accounted for 9.5% of total trade sales, up from 7.5% in the previous year. The Board of Directors approved the setting up of a brownfield cement grinding capacity of 3.40 million tonnes per annum at the existing facilities in Baloda Bazar district, Chhattisgarh, with an estimated capital expenditure of Rs 550 crore. The Board of Directors approved the merger of Shree Cement East Pvt. Ltd. and Shree Cement North Pvt. Ltd., wholly owned subsidiaries of the Company, into Shree Cement Ltd. subject to applicable regulatory requirements and sanction by National Company Law Tribunal(s) of relevant jurisdiction of the entities involved. Neeraj Akhoury, Managing Director, Shree Cement while commenting on the performance said, “We are excited to announce our Q2 performance with strong EBIDTA generation of Rs 870 crore on the back of volume growth of 10% and improved operational matrices. In our transformation journey, we have made significant progress in establishing world-class operational benchmarks, enhanced brand equity, and reduced environmental footprints. We continue to add world-class technology enablers to improve this performance further. We continually improve our volumes quarter over quarter. As the country enters into a multi-year strong demand cycle, we are aggressively marching ahead on our expansion plans to achieve our target of going beyond 80 million tons capacity by 2028. Result PDF