Shree Cement reported a 44% YoY drop in its standalone PAT to INR 277 crore for 2022 Q3. The company had reported a net profit of INR 492 crore in the same quarter of the previous fiscal year.
Revenue from operations was up 15% YoY at INR 4,069 crore during the Q3 2022 period compared to INR 3,552 crore in the year-ago period.
Its total volume in Q3 2022 rose by 23% YoY to 8.03 MPTA, and up 8% QoQ.
Shree Cement is a leading North Indian cement manufacturer, founded in the year 1979 in Beawar, Rajasthan. The company started as a small operation but with the passage of time, it has grown into one of the largest cement producers in the country.
Shree Cement's initial years were marked by its focus on setting up cement production units in Rajasthan, which was a state rich in limestone deposits. The company's first production unit in Beawar had a capacity of 2.0 MPTA. Over the years, Shree Cement has expanded its production capabilities, setting up new plants across the country. Today, the company has multiple manufacturing facilities in the states of Rajasthan, Uttarakhand, Haryana, and Bihar, with a combined production capacity of 47.4 MPTA.
In the early 2000s, Shree Cement entered into the power generation business, setting up a coal-based power plant in Rajasthan. The company later expanded its power generation capabilities, setting up more power plants in different states. Today, Shree Cement is one of the largest power producers in India, with a total installed capacity of over 752 MW.
Shree Cement's success can be attributed to its focus on innovation and efficiency. The company has always been at the forefront of technological advancements in the cement industry and has invested heavily in research and development. This has allowed Shree Cement to increase its production efficiency and reduce costs, enabling it to remain competitive in the market.
In recent years, Shree Cement has also focused on expanding its operations globally. The company has set up production units in countries like the United Arab Emirates, Bahrain, and Bangladesh.
Work on setting up of a clinker grinding unit of 3.0 MPTA capacity at Purulia (West Bengal), setting-up of integrated cement unit of upto 3.50 MPTA capacity at Nawalgarh (Rajasthan), and setting- up of a integrated cement unit of 3.0 MPTA capacity in Guntur (Andhra Pradesh), are nearing completion. On completion of the announced projects, company’s capacity would increase to 56 MPTA by 2025.The company has set a goal of having 80 MPTA capacity by year 2030.
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