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Cement Co Declares 15% Drop In Net Profit, Rs 55 Per Share Dividend

Cement Co Declares 15% Drop In Net Profit, Rs 55 Per Share Dividend


Business

oi-Renu Baliyan

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Large cap company operating in cement sector, Shree Cement declared 15% YoY decline in net profit at Rs 546 crore for the March quarter against Rs 645 crore reported in the same quarter last fiscal. Board of directors of Shree Cement announced a second interim dividend of Rs 55 per share or 550% for the year 2022-23. Despite decline in net profit, shares of Shree Cement surged 0.45% on BSE to close at Rs 24474.85 apiece. Check details below:

Shree Cement Ltd Q4: The company’s sales for quarter surged 17% to Rs 4785 crore against Rs 4099 crore in the same quarter a year ago. The total sale volume soared 10% sequentially to 8.83 million tonnes in March quarter against Rs 8.03 million tonnes reported in the same quarter.

Cement Co Declares 15% Drop In Net Profit, Rs 55 Per Share Dividend

Managing Director Neeraj Akhoury at Shree Cement said: “Shree Cement has delivered a robust set of revenue & Ebitda growth while strongly pursuing our journey to remain the greenest cement company with world class performance indicators. We are driving prioritised initiatives to increase green power, usage of alternative fuels, process automations combined with advanced digitalisation of the operations to deliver superior performance.”

Shree Cement Ltd Declares Dividend: According to the BSE filing of the company, “The Board of Directors of the Company has declared a second interim dividend of Rs 55 per share (550%) for the year 2022-23. Earlier in the year, the Board had declared an interim dividend of Rs 45 per share (450%). Total dividend for the year 2022-23 works out to Rs 100 per share (1000%) compared to total dividend of ₹ 90/- per share (900%) in year 2021-22. The Board of Directors has not recommended any final dividend for the year 2022-23.”

Shree Cement Ltd Stock Performance & Return: The last trading price of Shree Cement is Rs 24474.85 apiece on BSE. The stock’s 52-week high price is Rs 27,013.00 apiece and 52-week low price is Rs 17,900.00 apiece, respectively. The company’s market capitalisation is Rs 88,307.09 crore. Shree Cement shares gave return of 11% in last 1-year, declined 11% in last 2-years, gave return of 22% in last 3-years, and 49% return in last 5-years.

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Story first published: Monday, May 22, 2023, 19:15 [IST]


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