Shree Cement Q2FY18 standalone net profit declines 27.4% yoy : Estimates Mixed

Shree Cement Ltd Q2FY18

Standalone Results Q2FY18: (Rs. in crore)

Q2FY18YoY (%)
Revenue2,136.8[7.1]
EBITDA560.5[20.1]
EBITDA Margin (%)26.2[427]
Net Profit (adjusted)211.5[27.4]

Shree Cement's Q2FY18 standalone results for the quarter came in mixed versus street estimates. Revenue for the quarter came in 2.7 % lower than the estimated figure of Rs. 2195 crore. EBITDA for the quarter came in 9.9 % higher than the estimated figure of Rs. 510 crore. And lastly, net profit for the quarter came in 27.1 % lower than the estimated figure of Rs. 290 crore.

Shree Cement standalone revenue for the quarter came in at Rs. 2136.8 crore, registering 7.1% yoy decline. This was primarily driven by decline in revenue from power and cement by 15.9% yoy and 3.3% yoy.

EBITDA for the quarter fell by 20.1% yoy to Rs. 560.5 crore with a corresponding margin contraction of 427 bps. EBITDA margin for the quarter stood at 26.2%. This margin contraction was led by 9% yoy rise in cost of materials and adverse movements in inventories.

The PAT for the quarter came in at Rs. 211.5 crore, yoy decline of 27.4%. This was due to 29% yoy rise in interest expenses.


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