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Cement giant Shree Cements Ltd, in its Q4 results, reported a 17.6% YoY decline in profits as profits for the quarter ending in March 2022 came in at Rs 659 crores against Rs 800 crores last year.
However, the company's profits grew 36% QoQ as the company had reported a profit of Rs 483 crores in the quarter ended in December 2021.
The total income of the company stood at Rs 4,502 crores, higher both annually and sequentially. The revenues registered a growth of 20% QoQ as better realizations and higher other income drove higher revenues. The lower profits reported by the company were majorly on account of higher fuel and power costs, up 76% YoY, from Rs 720 crores last year to Rs 1267 crores this year.
IBHF Q4 results posted, read more.
For the full year ended on 31st March 2022, the company has reported a total income of 15,555 crores, up 11% YoY. Profits saw a marginal growth of 2% as the profit for the full year stood at Rs 2,337 crores. Power and fuel costs were a major contributor to lower profits as expenses for the same surged 51% during the year. However, EPS for the entire year improved to Rs 646.31 per share.
The company has recommended a dividend of Rs 45 per share or 450%. The stock of the Rajasthan-based cement maker has been declining for some time as it faced a steep decline from the beginning of May 2022.
It recently touched a 52-week low of Rs 21,650 per share. It closed at Rs 22,001.20 per share on Friday, marking a 19.25% loss to investors since the beginning of 2022.
Article by Aman Agarwal.
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