MK Singhi, Executive Director Shree Cements says of the Rs 172 crore net profit this quarter, Rs 74 crore is other income. Though he is hopeful that the coming months will be healthy, so there maybe chances of demand growth and then prices may also rise.
The company expects about 90 percent capacity untilisation by June 2014 as it added one more unit last month. It is currently using 80 percent of its capacity
HM Bangur, MD, Shree Cements, says that the company posted its third quarter number where they reported a rise in net profit from Rs 114.3 crore to Rs 274 crore on (Y-o-Y) basis. The revenue of the company also increased to Rs 1471.6 crore on (Y-o-Y) basis.
Shree Cements reported a better than expected second quarter performance in the financial year 2012-13 with a 3.67 times rise in net profit to Rs 217 crore. The company‘s net sales grew by 19.4 percent to Rs 1428 crore from Rs 1,195.8 crore during the same period.
HM Bangur, MD, Shree Cement explains to CNBC-TV18 that improvement in EBITDA margins at 32 percent of revenue was because of an increase in capacity from 70 percent last year to 90 percent currently.
HM Bangur, managing director, Shree Cement pointed out that cement prices in Northern India fell by Rs 10-15 on an average in the first quarter due to adverse weather conditions.
HM Bangur, managing director, Shree Cements told CNBC-TV18 that he expects the growth rate to slow down and forecasts a surge in the sale of power