Shree Cement Posts Strong Q3, Growth To Continue: Dolat Capital
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Dolat Capital Report
Shree Cement Ltd.’s results were above estimates on all fronts except realization and Ebitda/tonne were in line.
The company posted 16.2% YoY growth in revenue to Rs 33.1 billion led by 14.7% YoY volume increase to 7.2 million tonne coupled with rise in blended realization by 1.3% YoY (down 0.2% QoQ) to Rs 4,620/tonne.
Ebitda up 28.2% YoY to Rs 10.9 billion and adjusted profit after tax up 102.0% YoY to Rs 6.3 billion.
We believe the company is on the right track by adding capacity at regular intervals to improve its dominance on the market.
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