Shree Cements announced Q3FY24 results: Net revenue went up YoY by 20% from Rs 4,069 crore to Rs 4,901 crore. Total sale volume increased YoY by 11% from 8.03 million tonnes to 8.89 million tonnes. Capacity utilization improved from 72% to 77% on a YoY basis. EBIDTA up YoY 74% from Rs 708 crore to Rs 1,234 crore. Sale of premium products rose to 9.5% vis-à-vis 7.2% of total trade sales on a YoY basis. The Board of Directors in today’s meeting declared an interim dividend of Rs 50/- per share for the year 2023-24. Commenting on the performance, Neeraj Akhoury, Managing Director, Shree Cement said, “Shree Cement is executing a comprehensive performance improvement plan, and we are experiencing a positive impact. Strong volume growth along with building premium products through accelerated channel expansion and softening of fuel prices has helped us to deliver a robust improvement. We have embarked upon a comprehensive re-branding program which will help us build a differentiated positioning and win consumers delight. We have commissioned Purulia and Nawalgarh plant this year and our capacity growth plans are on track. We are confident of our potential to continue demonstrating superior performance. Our country is rapidly progressing on both housing and infrastructure, and this will provide a solid platform for India’s cement demand growth. We are fully prepared to complete our various projects to reach beyond 80 million tonnes cement production capacity by year 2028”. Result PDF